How businesses fail in managing technology: A review of the literature

Improper technology management will cause business failure. Based on literature review, this paper examines some of the main reasons why companies fail in managing technology. The paper identifies and explains seven principal reasons which may cause a tech company to fail: Leadership, Strategy, Marketing, Timing, Finance, Operations, and Communications. Measures are suggested to prevent and predict these failures based on lessons learned as well as ideas and options for success. We analyze not only what happens in those failures but also the interdependencies of these failures. Business failure can always be traced to poor management of technology and improper innovation. Our work can help technology companies to avoid future failures or at least create some sort of awareness on common mistakes that are currently happening in businesses so that these can be dealt with on time.