Notes

Very best Relevance of Technology?

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&quot;Technology in the long-run is irrelevant&quot;. That may be what a new customer of mine told me while i made a demonstration to him in regards to a new product. I actually had been discussing the product's features and benefits and even listed &quot;state-of-the-art technology&quot; or something to this effect, as one particular of them. the lode stone group Of which is when he made his assertion. I realized later on that he has been correct, at very least within the context regarding how I employed &quot;Technology&quot; inside my business presentation. But I began thinking about regardless of whether he could become right in other situations as well.


Precisely what is Technology?


Merriam-Webster identifies it as:


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a: the sensible application of knowledge specifically in a certain area: engineering 2
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b: a capability offered by the practical application of knowledge 2 : a way of completing a job especially applying technical processes, methods, or knowledge 3 : the specialized elements of a certain industry of endeavor Wikipedia identifies it as: Technology (from Greek? &Icirc;&shy;???, techne, &quot;art, talent, cunning of hand&quot;; and -??? &Icirc;&macr;?, -logia[1]) is the producing, modification, usage, plus knowledge of tools, equipment, techniques, crafts, methods, and methods involving organization, so as to fix a problem, increase a preexisting means to fix a problem, obtain a goal, handle an applied input/output relation or conduct a specific function. It can furthermore refer to the gathering of such resources, including machinery, alterations, arrangements and procedures. Technologies significantly affect human as effectively as other pet species' ability to control and conform to their natural environments. The word can either be applied generally or to specific areas: cases include construction technology, medical technology, and information technology. Both definitions revolve around the same thing : application and usage. Technology is a great enabler Many people mistakenly believe that it is technology which drives innovation. Yet from your meanings above, that is certainly obviously not the situation. It really is opportunity which often defines innovation and technology which permits innovation. Think of the classic &quot;Build a better mousetrap&quot; example taught on most business colleges. You might have got the technology to be able to build an improved mousetrap, but if a person have zero mice or the old mousetrap works well, there is not any opportunity and next the technology to be able to build a much better a single becomes irrelevant. In the other palm, if you will be overrun with mice next the opportunity is out there to innovate a new product using your current technology. Another example, one with which in turn I am thoroughly familiar, are gadgets startup companies. As a former associated with each those that succeeded plus those that unsuccessful. Each possessed exclusive leading edge technology. The difference was initially opportunity. Those that will failed could hardly discover the opportunity to produce a meaningful advancement employing their technology. Inside fact to survive, these kinds of companies had to morph oftentimes into something totally various and if we were holding lucky they can take full advantage of derivatives of their original technological innovation. More often compared to not, the initial technology wound up inside the scrap heap. Technological innovation, thus, is an enabler whose ultimate value proposition is definitely to help with our lives. In buy to be appropriate, it needs to be able to be used to produce innovations that are driven by opportunity. Technology as a new competitive advantage? Numerous companies list some sort of technology as 1 of their competitive advantages. Is niagra valid? In some circumstances yes, but In most cases no . Technology develops along two paths - an evolutionary route and a ground-breaking path. A revolutionary technology is one which in turn enables new companies or enables options to problems of which were previously not necessarily possible. Semiconductor technologies is a great example. Not only did it offspring new industries and products, but it spawned other groundbreaking technologies - transistor technology, integrated routine technology, microprocessor technological innovation. All which give many of the products plus services we ingest today. But is usually semiconductor technology the competitive advantage? Considering the number involving semiconductor companies that will exist today (with new ones developing every day), I had created say not. How about microprocessor technology? Once again, no. Lots of microprocessor companies out there. How about quad core microprocessor technologies? Not as corporations, but you need Intel, AMD, ARM, along with a host involving companies building personalized quad core cpus (Apple, Samsung, Qualcomm, etc). So once more, not much of the competitive advantage. Competition from competing technologies and easy usage of IP mitigates typically the perceived competitive good thing about any particular technologies. Android vs iOS is a great example of how this works. Each operating systems are really derivatives of UNIX. Apple used their own technology to introduce iOS and received an early market edge. Yet , Google, employing their variant of Unix (a rivalling technology), caught up comparatively quickly. The issues for this lie not in the actual technology, but in how the goods made possible simply by those technologies have been brought to market (free or walled backyard, and so forth ) plus the differences in the particular strategic visions associated with each company. Evolutionary technology is one which incrementally builds upon the bottom revolutionary technology. But by it is extremely nature, the incremental transform is easier for any competitor to match up or leapfrog. Get for example wi-fi cellphone technology. Organization V introduced 4-G products prior to be able to Company A in addition to while it may have had a small term advantage, seeing that soon as Organization A introduced their own 4G products, a benefit due to technologies disappeared. The customer went back to selecting Company A or Company V according to price, service, protection, whatever, but not necessarily according to technology. Therefore technology might have got been relevant for the short term, but in the particular long term, grew to become irrelevan
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