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855 Technology Management Development.doc With the recent advancements in technology, organizations are experiencing some major transformation. Mass production has facilitated the emergence of large, vertically integrated and hierarchically organized firms having flexible and highly organized industrial structures. Information technology provides the opportunity to overcome the knowledge base constraints and provides the user access to unlimited knowledge. Today, because of the rapid developments made in computers and communications technology, we are living in a time that many people call as an information age. Most key jobs such as managers, teachers, accountants, lawyers and journalists are dominated by extensive information handling. Because of the realization of the importance of information in business, the task of information processing has gained immense importance for most of the companies. Businesses nowadays are using information technology as a tool to gain customers and to outsmart their competitors.
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