Technology all about

Technology plays an important role in the business world. As years passed by, businesses have become dependent on technology. Almost all business and industries around the world are using computers ranging from the simplest to the most complex operation. It has play key role in the growth of trade and commerce in the world. Nowadays, all businesses are using internet to advertise their business. If a business has their own website, it enables to reach the clients around the world with just one click of button. Technology has allowed companies to grow and expand in ways never thought possible. Almost every aspect of business is heavily influenced by technology. It has become very important that has become a huge industry itself.

        We all knew that technology grows fast and the demand human resources increased. Life in every aspects such as business transactions when it comes to doing heavy papers, arranging, sorting now has come to find its solution to make task easier and less time consuming. We can say that all companies adopted what the technology offers. This is through the process of computerization. With its help, all transactions inside and outside the business world can be done in an easy way.

       Technology is the practical application of knowledge. It is the systematic treatment of art and science. The new science is circular in its motivation. The tendency only grows more definite as it kindles consecutively greater aspirations. Perhaps it is a desire, whether technical or ethical, to leave something here that is greater than before. Now the world is successful, dominated by computers and electronic intelligence that will leave a path for our recipient into the unknown in search of broader horizons than even we dreamed of. The desires to exist generation with success and in turn, assist them discovering consequential uses of their own art and science.  

       Advances in technology range from cell phones and laptops to great macro computers used in the most detrimental and delicate of military operations. While these technological advances are speeding along the evolution of man’s industrial greatness, some people believe that they are greatly impeding the fostering of emotional and psychological integrity among the human race. We lose touch from behind screens and bolt irresponsibly through moral challenges at the speed of light with faceless services such as e-mail and the internet. Through the vital exterior of metal and computer chips, the United States stands more for innovation and simplification than ever before, breaking new ground in the accomplishments of mankind. Economic growth caused by new and profound technology has sparked mass productivity and international competitiveness.  

       For instance, invention of computers brought a technology in the world which had the power to multitask like none other machine created by man. It could store information, simplify tasks and organize work with just one instruction. Ever since, computers have been developed into smarter machines by leaders of top information.

       Technology defined by Everett M. Rogers as “a design for instrumental action that reduces the uncertainty in the cause-effect relationships involved in achieving a desired outcome.”  That is, technology encompasses tangible products, the computer and knowledge about processes and methods, such as the technology of mass production introduced by Henry Ford and others. 

       According to J. Paap, as queted by Michael Bigwood in Research-technology management, technology as “the use of science-based knowledge to meet a need.” Bigwood

Suggest that “Perfectly describes the concept of technology as a bridge between science and new products. And also draws heavily on scientific advances and the understanding gained through research and development. It then leverages this information to improve both the performance and overall usefulness of products, system and services.

       In the context of business, technology has a wide range of potential effects on management. It is reduced costs of operations, new product and new market creation, adaptation to changes in scale and format, improved customer service and reorganized administrative operations.

       Professor Michael Porter of Harvard Business School is one of many business analysts who believe that technology is one of the most significant forces affecting business competition. Porter noted that technology has the potential to change the structure of existing industries and to create new industries. It is also a great equalizer, undermining the competitive advantages of market leaders and enabling new companies to take leadership away from existing firms.

       Since technology is such a vital force, the field of management has emerged to address the particular ways in which companies should approach the use of technology in business strategies and operations. It is inherently difficult to manage because it is constantly changing, often in ways that cannot be predicted.

       In the field of management, the national research council in Washington D.C defined     management of technology (MOT) as linking “engineering, science, and management disciplines to plan, develop and implement technological capabilities to shape and accomplish the strategic and operational objectives of an organization. While technology management techniques are themselves important to firm competitiveness, they are most effective when the complement the overall strategic posture adopted by the firm. And tries to create competitive by incorporating technological opportunities into the corporate strategy. Technology management focuses on the intersection of technology and business, encompassing not only technology creation but also its application, dissemination and impact.