Technology Management Essay Example | Topics and Well Written Essays - 2500 words

Technology Management - Essay Example The company analyzed in this case study is an existing company Asia Odyssey. It is a UK travel agency offering a tailor-made holidays and honeymoons to the Far East and India (Asiaodyssey.com,2014). This company is operating in the Internet-based industry as a tour operator. For the information-intensive firm, operating in the tourism sector, the main sources of technology are systems departments, in-house software departments, suppliers of IT hardware and software (applications) (Tidd, Bessant, Pavitt K, 2005). As this type of business involves significant amount of information, it is important to process the information flow in most effective and rational way. There should exist systems for processing information. As Tidd, Bessant, and Pavitt, (2005:193), information –intensive firms should focus on the â€Å"development of complex information-processing systems, and the development of related and often radically new services†.The development of a new serviceNew produ ct/service development is often recognized to be a new source for profit development. Companies can generate significant returns if the right new product/service is successfully introduced at the right location and time, for right price and for the right consumer (Fojt, 1996). However, in order to implement this strategy, companies have to take a close look at the industry in which it operates, examine market competition and market position, and a number of other external factors. Use of technology enables the companies.