Importance of technology

Technology & Its Importance

ByDr. Vijay Kr Khurana

What is Science?• . Science mainly deals with the natural world It is

, the study of the natural laws which govern the. universe Examples ??

• Science is public and universal knowledge. • - . Science is genrally a boon for all human beings• Utility of science does not undergo change with

. the passage of time Scientific development . usually follows stages like discovery and growth

What is Scientific Discovery?

• Scientific Discovery results in something novel to the society / the world. It does not mean mere discovery of new use, new arrangement or new reorganization of existing scientific principles / existing scientific laws, existing technology or its related products or services.

• Rather it focuses on finding some new scientific principle or scientific law etc.

• What is new ?

What is Scientific Discovery?

• Scientific Discovery means a new scientific, , principle new technology new product or new

service means that these did not exist before or / have been invented introduced recently or / have been invented introduced for the first.time

• What is nature of scientific discovery?• What are the steps in scientific discovery?

What is nature of Scientific Discovery?

• It is a highly creative process. • The scientific discovery results into some novel

scientific principle / new scientific law etc.• The ideas for scientific research and discovery

can come from following sources:– Inspiration - Deduction - Induction

• It can be both systematic and unsystematic.


…. Contd…• Scientific research and discovery leads to

increase of overall scientific knowledge• Scientific research and discovery usually

focusses on discovering previosly unknown , scientific principles or scientific laws which

. already hiddenly exist i e it is usually past and .present oriented

• Many a times, scientific research is pursued even if immediate costs are more than immediate benefits.


Example … International Space Station


Example … International Space Station • The International Space Station (ISS) is a

habitable artificial satellite in low Earth orbit. • The ISS programme is a joint project between

five participating space agencies, the American NASA, the Russian RKA, the Japanese JAXA, the European ESA, and the Canadian CSA..

• The ISS serves as a microgravity and space environment research laboratory in which crew members conduct experiments in biology, human biology, physics, astronomy, meteorology and other fields


Example … International Space Station • The ownership and use of the space station is

established by intergovernmental treaties and agreements. The station is divided into two sections, the Russian orbital segment (ROS) and the United States orbital segment (USOS), which is shared by many nations.

What are the steps in Scientific Discovery?

1. Statement of Problem, Purpose or Research Question

2. Hypothesis Formulation3. Listing of Materials Required4. Laying Down Procedure for Conducting

Research / Experiment5. Experimentation, Observations and Data

Collection6. Conclusion

What is Technology ? • Technology has been derived from Greek word

“techno-logia” – Techno means an art or skill and Logia means science or study. Thus technology means systematic treatment of, art or study.

• According to Oxford English Dictionary - “ Technology is application of scientific knowledge for practical purposes”.

What is Technology ? • “ - Technology means the totality of the means

employed to provide objects necessary for . human sustenance and comfort Objects include

, . . not only goods but services i e technology is not -restricted to hardware but may include know

. ” how and software

What is Technology ? , , The meaning of Technology in different contexts is :-as under

• Totality of various technologies vs a specific / particular technology

• ‘ ’ Technology as technical means - people use to .improve their surroundings

• Technology as ‘tool’ – as a device or implement used for a particular task

• Technology as ‘technique - - a way of doing something or some practical skill

• ‘ ’Technology as a cultural force – which f orms or changes culture

What is nature of Technology ? • It involves purposive applications of various

fields of sciences and scientific knowledge. • It is used to ( , provide objects like products

, , .) machinery tools services etc necessary for .human sustenance and comfort

• It is not restricted to hardware, but also includes know-how and software.

• . It has both public & private components

• Examples ????

What is nature of Technology ? • It is complex in nature- most modern tools are

difficult to understand as to how to manufacture or how to use or both.

• It is dependent on other technologies. • It has high degree of valence –large multitude of

types or variations of the same product. • It is big in scale – dominates modern life • Technology carries different meaning to different

. people in different situations

• Examples ???

Constituents / Atlas of Technology ?

a. / / Following are the Parts Attributes : Constituents of Technology

– Body of certain scientific principles and scientific laws

– ( , Related group of applications like products services or processes or improvements

)thereof– ( A specific set of artifacts set of equipments

, )like machinery tool etc


a. contd ….– Specific knowledge expressed in a cluster of

, techniques for investigation measurement and application

– - ( Operational experience and know how like .)prodcution skills etc

– - Organization expressed in terms of structure ( & systems for developing and delivering its

).applications


b. Atlas of Technology• Technoware – object or hardware embodied

technology• Humanware – person embodied technology• Infoware – documents, Specifications,

procedures, methods • Orgaware – institution embodied or support net

technology

What are the d ifferences between Science and Technology

• Many times, two terms are used interchangeably

• Thin line of demarcation between the two terms


1. Science .largely deals with the natural world• Technology - largely deals with the human made

world2 Science mainly focusses on understanding

/ scientific principles scientific laws• Technology . . mainly focusses on doing i e it is

application oriented3. Science is public and universal knowledge• Technology comprises both public and private

knowledge


4 . Scientific research and discovery leads to increase of overall scientific knowledge

• Technology development leads to innovation of , new products services or processes

5. Utility of science does not undergo change with the passage of time.

• , Technology and the product service or process , associated with it undergo changes like the

( . . , biological concept of a life cycle i e birth, ) growth maturity & death


6. Scientific research and discovery is pursued even if costs may sometimes exceed benefits

• Technology development is manytimes guided by cost vs benefit analysis

7. -Science is generally useful for all human beings• Technology provides specific advantages to

( owner and users and some disadvantages to)society


8. Scientific research and discovery usually focusses on discovering previosly unknown scientific

, principles or scientific laws which already hiddenly . exist i e it is usually past and present oriented

• Technology development is mostly present and . . future oriented i e deals with finding solutions to

present problems and developing futureapplications

9 . Scientific research and discovery precedes technology development

• Technology development / succeeds follows scientific research and discovery

Technology & Wealth of Nations


• History of last 500 years of the world suggests that technological progress is crucial for military strength of a nation and its survival as an entity.

• Not only militarily, it is crucial for economic progress of nations as well.

• Due to technological progress, USA, Western Europe & Japan etc are able to ensure continued economic progress despite temporary ups & downs.


a. ,In domestic market , a nation and its firms having better and advanced technology can

:enjoy following advantages• Improved and efficient functioning of various

organizations in the nation


a. .. contd ….• Technological progress and infusion brings major

changes and improvements in the overall functioning of organizations leading to

. transformations viz transformation in Banking, .Sector Telecom Sector etc

• Enhanced capability to fight foreign competition and thus retaining control over strategic national

economic assets• ; Stability in sales and profits of business firms

stable growth of sales and profits


a. ... contd ….• Regular employment generation and high

standards of living• Lesser probability of occurance of economic

recession and lesser adverse impact of economic recession if it occurs

• Relative stability in national income• Growth of national economy

Technology & Wealth of Nations a. … contd ….• Proper management of natural disasters and other

, , , , crisis like earthquake tsunami floods droughts oil ; spills etc and faster recovery from such disasters

and crisis• , , Proper management of law and order terrorism

, internal security and crossborder movements• Better infrastructure and facilities like medical

; facilities etc and better infrastructuremanagement

• Development of technologies for conserving and ; strengthening natural resource base for

protecting flora & fauna ; and environment


b. ,In external markets a nation and its firms having better and advanced technology can

:enjoy following advantages• Technological competitive advantage• Boost to exports• Forex earnings through exports• Disposal of surplus to external markets thus

maintaining stability in domestic prices• - Monopoly & high prices for hi tech products in

the international markets


b. … contd … • Earnings from external markets provide

additional funds for supporting research & development at home

• Globalisation of operations leading to benefits of , economies of scale of mass production and cost

/ reduction by procuring low cost resources .inputs from anywhere in the world


b. … contd … • ( ) Facilitates outbound Foreign Direct Investment FDI

by domestic firms leading to earnings through , , captive exports repatriation of profits sale of

, - machinery sale of components and sub assemblies.etc

• Earnings through technolgy transfer agreements• Employment generation & high standards of living• As the total size of the national economy becomes

, bigger due to participation in international busniess / chances of domestic stagnation recession decline

• .

Technology & Wealth of Nations b. … contd … • Growth of national economy• Developing international reputation and attracting

overseas investors• A prominent role for the nation in the international

- economic matters and international decisionmaking

• Increase of national influence over other countries• Enables the nation to monitor movement of its

, ships cargos and other resources in the world by using various technologies like Global Positioning

( ) .System GPS etc

Technology & Firm specific Knowledge

• / Technology development provides unique specific ownership advantages to a business

, firm which are known as - firm specific - knowledge or firm specific advantages.

• T his firm specific knowledge may be held ; temporarily or permanenetly and are held

. exclusively• It includes intangible assets such as technical

, , expertise technical knowhow processknowhow .or patents etc


• … contd…• The firm specific knowledge provides some sort of

operational and competitive advantages to the owner business firm and put its competitors in

. relatively disadvantageous position• - These firm specific advantages promise superior

. returns to the owner firm over its competitors• - These firm specific advantages enable a business

/ enterprise MNC to move into foreign markets and become successful in foreign markets despite high

, ( operating costs and problems particularly in )initial years .


/ Importance Significance of Firm Specific Knowledge / Strategic Management of Technology( )SMOT

• Improvement in quality thus leading to high quality products

• Minimum life cycle costs of product development• Substantially reduced production costs• Shorter lead times from R&D design to commercial

production• High levels of flexibility in responding to changing

.market conditions


… contd …• ( / Taking advantage of economics of scale volume

) ( )mass production & economics of scope variety• Reduction in number of machine tools required to

manufacture parts• Reduction in floor space requirements due to better

machinery designing and spatial arrangement• Reduction in labour requirements by better

utilization of technlogical strengths• Increase in machine utilization rate by removing

bottlenecks


… contd …• Reduction in work in process & finished goods

inventories• Reduction in overall cycle time• , Simplification of production scheduling better

work flow• Increase in manufacturing capacity• Higher efficiency & higher productivity• Shared use of design & manufacturing data across

different divisons of the organization and its business partners


… contd …• Flexibility in design & manufacturing operations• , Increased ability to enter new markets quickly

faster introduction of new products• Improved management control• Shortened delivery time for customers• Reduced material handling• Increased safety of workforce and consumers• Enhanced capability to fight foreign competition• ; Stability in sales and profits of business firms

stable growth of sales and profits


… contd …• Increased earnings through exports• - Monopoly & high prices for hi tech products in the

international markets• ( ) Facilitates outbound Foreign Direct Investment FDI by

, domestic firms leading to earnings through captive exports , , repatriation of profits sale of machinery sale of - .components and sub assemblies etc

• Earnings through technolgy transfer agreements• Technological progress and infusion brings major changes

and improvements in the overall functioning of . organizations leading to transformations viz

, transformation in Banking Sector Telecom .Sector etc

Technology & Its Importance

ByDr. Vijay Kr Khurana

Importance of technology

Business

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