Technological innovation and commercial changes - Essay Example

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Technological innovation and commercial changes

Changes in technology may be broadly grouped into those that are industry specific and those that have an impact across all business. The development of Information and Communication Technology is a part of the latter.
The electric motor rewinding industry is a traditional industry and usually operates at small scales, being limited by the availability of motors to rewind. Yet it is a specialised industry that requires its own skills especially in the case of motors of large capacity and sophistication. The generally small dimensions of these companies, makes them less inclined to incorporate new technologies into their business. Added to this, the limited importance of the sector as a whole, in comparison to other manufacturing industries means the availability of new technological advances is not the same as in other sectors. The development of new engineering techniques are few and far in between.
Despite this, the motor rewinding sector has not remained immune to the general trend of the last few decades where technological innovation and renovation have become the norm. We have become used to living with such terms as "society of communication", "computer revolution", etc.
In the widest sense of the term new technologies can be better understood from the point of view of the impact they have on our organisations. ...Show more

Summary

Man lives with the tools he has developed; he depends on them for his livelihood" (). Technology may be defined as the organisation of knowledge for the achievement of some purpose or purposes ().Every industry has felt the impact of technological advance…
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Technological innovation and commercial changes essay example
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