nowledge' or 'a manner of accomplishing a task especially using technical processes, methods, or knowledge'. Merriam-Webster defines management 'as a judicious means to accomplish an end.' The combination of these terms is called Technology Management and that's the focus of this chapter. For the last few years, the principles of Technology Management (TM) or Management of Technology (MoT) have been used by companies to address these challenges. TM or MoT is one of the essential components of today's high tech world. It was incepted in the early 1980s and since then a lot of literature has been produced on it. Fortunately, or unfortunately, there is no formal definition of TM, but it has been widely recognized that it should have three major components, namely leadership, human capital and appropriate management of resources (tangible and non tangible). 1 The goal of TM create synergy among all the factors (i.e., research, development, planning, engineering, machines, software, etc.) and to make them work together in the most efficient way to produce profit for the company both in the short-term and long-term. We have considered the following definition [1] of TM in this book: Management of Technology for companies is about sustaining and improving a company's competi- tiveness in the long term. Though TM has been recognized as an essential component but it has not received equivalent importance as compared to the other components of the value chain. This chapter will analyze the importance of TM and its applicability for the standards, technologies, networks, and devices that have been discussed in the previous chapters. The discussion is how the tools of TM can be applied to the mobile communications industry. More specifically, the principles of TM as shown in Figure 12.1 that will be discussed in this chapter are Technology Strategy, Technology Development, New Product Development, Innovation Management, 1 Sustaining and improving competitiveness linked to leadership (vision) - employees (motivation) - resour