Mit Assignment

Introduction
A Chief Technological Officer (CTO) is an executive who is responsible for the management of an organization’s research and development (R&D) and technological needs. A chief technology officer (CTO) examines the short and long term needs of an organization, and utilizes capital to make investments designed to help the organization reach its objectives. While research and development has been a component of businesses for many years, the rise of information technology (IT) and computers has increased the importance of the CTO. Companies focusing on scientific and electronic products employ CTOs who are responsible for the oversight of intellectual property and have backgrounds in the industry. Main Ideas
 Origins (1950’s and 60’s)
In the 1950s and 1960s, many large corporations established beautiful research laboratories at locations remote from their headquarters and manufacturing facilities. The goal was to collect brilliant scientists and allow them to study relevant topics in an environment unhindered by day-to-day business concerns. The director of the laboratory was often a corporate vice president who did not participate in the decisions regarding corporate strategy and direction.

 1980’s
In the late 1980’s companies began appointing R&D directors as Chief Technology Officers. Technology was becoming such a prevalent part of company products and services that senior management needed an operational executive who could understand it and provide reliable advice on its application.

 1990’s
During the 1990’s, a change in the strategic nature of information systems signaled a shift in the level of importance that was accorded the position of CTO. As organizations looked to find new methods to leverage information systems to support both operational and strategic goals of the firm, the position of CIO/CTO became critical to achieving business objectives.

 Present

The drastic surge of importance that organizations now accord