Technology means systematic application of scientific or other organized knowledge to practical tasks.

used in many areas like medicine. it becomes technology.knowledge is of theoretical nature is not of much use. industry. space. education etc. Wide spread effects.Features of Technology    Application of Knowledge. but when it is put into practical use. . skills. agriculture. Includes Hard and Soft TechnologyHard technology includes plant. method of working. machinery etc. whereas soft technology includes formula.

old technology is replaced by the new one. . with the invention of new technology. Self.creates the problem of technological discontinuity .technology feeds itself.  Fast Changes:.Reinforcing:. Existing technology helps to invent new technology.

.  Availability of Technology.  Research and Development Efforts.Technological Environment It includes: Technology.  Technological Policy.

Product design.Areas in which firms use Technology     Communication and information management. Operations as in any production or manufacturing activity. Research and development. .

faster Finger Frank talk. Net banking. HRIS. Corporate Blogging.ADVANTAGES       Improved product quality Increased productivity Shorter turnaround period Informed decision making Innovations MIS. UMS. Global Cadre .

discussion of special problems at international seminars. materials etc. fact finding tours and exhibitions.Forms of Technology Transfer    Exchange of Information: distribution of papers and surveys. . Free use of technology based information: specifications and technical documentation for products. designs. Gratuitous transfer of technology with assistance: sending consultants to help the local specialists to master the new technology and start production.

strategic alliance. . Industrial co-operation: this implies contractual relations between independent enterprises or firms. The rendering of technical services: includes different types of short term technical assistance from foreign companies under contract. management agreement. Import of Industrial goods: purchase of industrial goods from abroad thus acquiring new technology.    Technology obtained through agreement: merger.

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