Learn in the textbookManagement of Technology (MOT), Intellectual Property Strategy, and the Two Basic Types of Innovation
DefinitionMOT (Management of Technology) is a management approach that treats technology as a business resource and links technological innovation to business growth and competitiveness.
ExplanationRather than stopping at the results of research and development, it manages from a management viewpoint which technologies to invest in and how to commercialize them into profit. Ideas such as evaluating technologies, forecasting the future and using patents serve as tools for this.
AnalogyIt is like a restaurant owner with a skilled chef who decides which dishes to feature and where to open shops, turning that skill into profit for the business.
Memory hookMOT stands for Management of Technology. Management comes first: the focus is less on technology itself than on running a business with it.