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How to improve management capability in a business?

Today, in any business, technology management should be considered an important part of overall business administration. Technology management involves building and implementing policies to address the development and use of technology, especially in planning and enhancing a company's technological capabilities. Characteristics of Technology In the most general sense, technology is a collection of methods, processes, skills, know-how, tools, and means used to transform resources into products. Thus, technology can be understood as systematic knowledge of processes and techniques used to process materials and handle information, including all the skills, knowledge, equipment, and methods used in creating goods and providing services. A technology has four closely related and complementary components. First is the technical aspect, which includes all physical means such as tools, machinery, equipment, vehicles, and other infrastructure, often forming a chain corresponding to a specific technological process. Second is the human element, which includes knowledge, experience, and skills learned and accumulated through activities, as well as qualities such as creativity, wisdom, coordination ability, and work ethics. Third is information, which is the data compiled and systematized for use in the technology. The final component is organization, manifested through regulations on responsibilities, authority, relationships, and coordination among individuals working with the technology, including worker training processes and arrangements to make the best use of equipment. Besides finance, human resources, marketing, and sales, one of the levers that many businesses worldwide are placing great expectations on is technology, especially digital technology. A recent statistic from MIT CISR shows that 42% of businesses expect technology strategies—including social media, mobile, analytics, cloud computing, and the Internet—to create breakthroughs and new competitive advantages for them. A Company's Technology Management Capability Today, in any business, technology management should be considered an important part of overall business administration. Technology management involves building and implementing policies to