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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. A broad classification, based on the differential levels of impact on the organisation might be:

Management enabling technologies
Automation and industry specific technological advances
Environment friendly technologies
Improvement of health and safety in the workplace

Globalisation through the opening of trade and tariff barriers, uniform legislation, improved communication and shipment infrastructure have made it possible for companies, all over the world, to compete for every business opportunity. The impact of cheap labour combined with availability of skills in the developing economies like China and India is being felt in the West and many businesses are finding it very difficult to compete. It is, today, cheaper to buy a new motor of a rating of up to 2.5KW manufactured in these countries than to get it rewound! And the new motor is also of excellent quality, and likely to be more dependable and give better service!


2.0 Technological Advances

2.1 Management Enabling Technologies

These ...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…
Author : coleman57
Technological innovation and commercial changes essay example
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