What is definition of Technology?

Technology within the long is irrelevant“. that’s what a client of mine told ME after I created a presentation to him a couple of new product. I had been talking concerning the product’s options and edges and listed “state-of-the-art technology” or one thing thereto impact, jointly of them. that’s once he created his statement. I noticed later that he was correct, a minimum of among the context of however I used “Technology” in my presentation. however, I started pondering whether or not he may be right in different contexts furthermore.

a: the sensible application of data particularly in an exceedingly explicit area: engineering two
b: a capability is given by the sensible application of data
: a fashion of accomplishing a task particularly victimization technical processes, methods, or information
: the specialized aspects of a selected field of endeavor

Wikipedia defines it as:

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The technology is to create, modify, use, and information about the platforms, machines, techniques, crafts, systems, and organization modes, so as to unravel a retardant, improve a preceding resolution to a retardant, bring home the bacon a goal, handle Associate in Nursing applied to input/output relation or perform a particular perform. It also can seek advice from the gathering of such tools, together with machinery, modifications, arrangements, and procedures. Technologies considerably have an effect on human furthermore as different animal species’ ability to regulate and adapt to their natural environments. The term will either be applied topically or to specific areas: examples embody construction technology, medical technology, and knowledge technology.Both definitions revolve around the same factor – application and usage.

Technology is Associate in a Nursing enabler

Many people erroneously believe it’s technology that drives innovation. nevertheless from the definitions higher than, that’s clearly not the case. it’s a chance that defines innovation and technology that permits innovation. consider the classic “Build a far better mousetrap” example instructed in most business faculties. you may have the technology to create a far better mousetrap, however, if you have got no mice or the recent mousetrap works well, there’s no chance then the technology to create a far better one becomes unsuitable. On the opposite hand, if you’re overrun with mice then the chance exists to introduce product victimization your technology.

Another example, one with that I’m intimately acquainted, ar shopper physical science startup firms. I have been related to each those who succeeded and people that unsuccessful. every possessed distinctive vanguard technologies. The distinction was a chance. those who unsuccessful couldn’t notice the chance to develop purposeful innovation victimization their technology. In fact, to survive, these firms had to morph oft into one thing all totally different and if they were lucky they might make the most of derivatives of their original technology. a lot of usually than not, the initial technology aroused within the scrap heap. Technology, thus, is Associate in Nursing enabler whose final price proposition is to create enhancements to our lives. so as to be relevant, it has to be wont to produce innovations that are driven by chance.

Technology as a competitive advantage?

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Many firms list technology jointly of their competitive benefits. is that this valid? In some cases affirmative, however In most cases no.
Technology develops in 2 ways – Associate in Nursing organic process path and a revolutionary path.
Revolutionary technology is one that permits new industries or permits solutions to issues that were antecedently unimaginable. Semiconductor technology could be exemplary. Not solely did it spawn new industries and merchandise, however it spawned different revolutionary technologies – electronic transistor technology, microcircuit technology, chip technology. All which offer several of the merchandise and services we tend to consume nowadays.

however is semiconductor technology a competitive advantage? watching the number of semiconductor firms that exist nowadays (with new ones forming each day), I would say not. however, concerning chip technology? once more, no. countless chip firms out there. however concerning quad-core chip technology?

Not as several firms, however, you have got Intel, AMD, ARM, and a number of firms building custom quad-core processors (Apple, Samsung, Qualcomm, etc). So again, not a lot of-of competitive advantage. Competition from competitive technologies and simple access to scientific discipline mitigates the perceived competitive advantage of any explicit technology. mechanical man vs iOS could be an exemplar of however this works. each operational systems are derivatives of the UNIX system.

Apple used its technology to introduce iOS Associate in Nursing gained an early market advantage. However, Google, utilizing their variant of UNIX system (a competitive technology), wedged comparatively quickly. the explanations for this lie not within the underlying technology, however in however the merchandise created potential by those technologies were delivered to market (free vs. walled garden, etc.) and therefore the variations within the strategic visions of every company.

Evolutionary technology is one that incrementally builds upon the bottom of revolutionary technology. however, by its terrible nature, the progressive modification is simpler for a rival to match or leapfrog. see example wireless cellular telephone technology.

Company V introduced 4G merchandise before Company A and whereas it should have had a brief term advantage, as presently as Company A introduced their 4G merchandise, the advantage because of technology disappeared. the buyer went back to selecting Company A or Company V supported worth, service, coverage, whatever, however not supported technology. This technology might need to be been relevant within the short term, however, within the long run, became unsuitable.
In today’s world, technologies tend to quickly become commoditized, and among any explicit technology lies the seeds of its own death.

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