technological innovation and commercial changes

Masters
Essay
Technology
Pages 10 (2510 words)
Download 0
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…

Introduction


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. ...
Download paper
Not exactly what you need?

Related papers

Technological progress
The special feature of 20th century innovations has been a rapid progress in technology such as the communications revolution beginning with the telegraph, telephone, wireless communications technology and finally the internet and World Wide Web (Williams, 1982). New innovations and drastic changes in the way people communicate with each and the transition of the communication revolution from the…
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.…
Technological Innovation
This will involve due cognisance of strategic alternatives available, their attractiveness and opportunities and threats, which lie From an economic perspective there is a differentiation between product and process innovation. Product innovation is seen to focus on cost reduction by obtaining a greater volume of output for a given input. Process innovation, on the other hand, describes new…
Role of Basic Research in Technological Change
In the modern times technology has become an essential part of society, especially in economic terms. As noted in the Science magazine issue of 23 October 1998, "technology companies founded in just the last 30 years have created an aggregate capital value of close to a trillion dollars, making technology a major engine driving the U.S. economy".[1].…
Managing Innovation
This occurs when technology has developed new instruments which can profoundly affect scientific theories; or, technology has discovered new methods which require explanation through the development of new theories by scientists to explain occurrences.…
Technological Change and Innovation
Since the industrial revolution, technology has caused accelerated changes in society, first reshaping the face of agriculture and trade-based economies and transforming the world into manufacturing-oriented societies. The 20th century saw the dominance of three so-called engines of change that led to global economic growth and change: management, capital markets, and technology (Micklethwait and…
New Technology and Innovation
Collection of data and numerical crunching of data lies at the core of land surveying practices. While several technological innovations have been successfully adopted in this profession ;the most remarkable have been in the area of developing integrated software to address a host of issues involved in land surveying through development of integrated software packages built on multiple utilities.…