Technology is a broad term that refers to the means by which we can adapt to our environment,

control our environment, and even change it. Advances in technological processes provide many
advantages. Technological innovations in processes can improve productivity and efficiencies
that will reduce costs and improve profit margins. It can make a business more competitive.
Innovation in technological processes can also make products possible that were otherwise
impossible with older technology. One only needs to look at the computer industry and compare
processing abilities from a few years ago to what's available today to see evidence of this. Thus
technology provides development of new markets and products that can lead to economic
growth.