Flexible Management of New Technology

Technology and its management are today matters of global primacy. Technology is being developed, improved, combined, refined, bought, sold and traded around the world at unprecedented levels. As technology is crucial to the development of a country, the management of such an important resource, both at national and enterprise levels, is vital. The technology and its management cannot be left to the forces of chance. As an important resource it has to be properly planned, cultivated and developed. Flexibility means being agile and the ability to be versatile. It also refers to qualities such as ‘robustness’ or ‘resilience’ that enables an enterprise to endure when negatively affected by changes. To have competitive advantage, flexibility needs to be introduced at various steps of technology management. An empirical study conducted has proved that there exists a strong relationship between flexibility and technology management, which calls for flexible management of new technology for strategic success.