Effective Decision Making Entity for Production Technology Development

In: Other Topics

Submitted By dukesan
Words 450
Pages 2
According to reading the firm situation that it is facing is chosen one type of production technology over the others and under what circumstances is the one type of technology is more effective than the others. However, the company management faces many trials and decisions on a day-to-day basis in the global marketplace in their determinations to keep their company competitive. Companies understand the risk and reward associated with engaging in these types of projects and must understand the impact on their company’s current and future states (Kim, 2005).
Companies use metrics to monitor, measure, and manage the different processes within their operating system. They must also determine the project leadership structure with this information in mind and understand the “layering” that exists in the decision-making process for these types of projects (Kim, 2005).
There are many influences that can impact technological projects. One of these is the level of management complicated in the development. The decision-makers range from top management, middle management, supervisors, and down to the operators on the shop floor. The participation by all these parties is critical to the success of the project from planning, execution, and integration of the new technologies into the functioning processes for the company.
According to this case study, by looking at data analysis from 22 manufacturing plants using 83 technological missions, substantial statistical propositions formed that correlated to the project consequences. These propositions support the three components of effectiveness of technology development. These components are technology choice, technology mechanism, and decision entity.
As underlined by the World Business Council on Sustainable Development, business “understands technology transfer to be technology diffusion, a means for the deployment of…...

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