Information Technological Change and Innovation - Essay Example

Extract of sample
Information Technological Change and Innovation

There are two modes of technology acquisition. The first is to acquire the technology from abroad, as firms in Japan, South Korea, and Singapore did after the Second World War through the importation of capital goods, licensing, and foreign direct investments. Japan and South Korea used the technological know-how acquired to learn more about automobiles and computer technologies, for example, and then proceeded to improve on them to come out with world-class products like automobiles (Toyota, Nissan, and Honda), electronics goods, office equipment, and even cosmetics.The second way for firms to acquire technology is to develop it from within, a process called indigenous development of technology, the route now being taken by America, the U.K., and several European nations. Countries like Japan and South Korea have begun to take this route in recent decades, which accounts for several companies like Sony and Canon owning thousands of technology patents, although they are still far from the number of patents owned by firms and universities in the U.S. and the U.K.Beginning in the 1970s, the connection between firms and centres of learning like universities and colleges became closer, with firms providing financial support in exchange for first-user advantage or a first option to gain access to the best technological minds (Negroponte, 1995). This allowed research and development (R&D) to go forward at an even faster pace, cutting down the time that products are introduced to the markets. ...Show more

Summary

The last twenty years have seen the rapid advancements in information and communication technologies, which now play a pivotal role in almost all human activities. The writer of this essay intends to discuss contemporary technology and what let to such situation…
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Information Technological Change and Innovation essay example
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