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Importance of technology
 

Importance of technology

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Steps & characteristics of scientific discovery, Difference between science & technology, Technology & wealth of nations, Technology & competitive advantage of organizations

Steps & characteristics of scientific discovery, Difference between science & technology, Technology & wealth of nations, Technology & competitive advantage of organizations

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    Importance of technology Importance of technology Presentation Transcript

    • Technology & Its Importance By Dr. 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.
    • What is nature of Scientific Discovery?…. 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.
    • What is nature of Scientific Discovery?Example … International Space Station
    • What is nature of Scientific Discovery?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
    • What is nature of Scientific Discovery?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 Question2. 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 forms 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)
    • Constituents / Atlas of Technology ?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).
    • Constituents / Atlas of Technology ?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 differences between Science and Technology• Many times, two terms are used interchangeably• Thin line of demarcation between the two terms
    • What are the differences between Science and Technology1. 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
    • What are the differences between Science and Technology4 . Scientific research and discovery leads to increase of overall scientific knowledge• Technology development leads to innovation of new products, services or processes5. 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)
    • What are the differences between Science and Technology6. Scientific research and discovery is pursued even if costs may sometimes exceed benefits• Technology development is manytimes guided by cost vs benefit analysis7. Science is generally useful for all human-beings• Technology provides specific advantages to owner and users (and some disadvantages to society)
    • What are the differences between Science and Technology8. 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 future applications9 . Scientific research and discovery precedes technology development• Technology development succeeds / follows scientific research and discovery
    • Technology & Wealth of Nations
    • 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.
    • Technology & Wealth of Nationsa. 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
    • Technology & Wealth of Nationsa. .. 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
    • Technology & Wealth of Nationsa. ... 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 Nationsa. … 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 infrastructure management• Development of technologies for conserving and strengthening natural resource base; for protecting flora & fauna ; and environment
    • Technology & Wealth of Nationsb. 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
    • Technology & Wealth of Nationsb. … 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.
    • Technology & Wealth of Nationsb. … 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 Nationsb. … 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 decision- making• 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.• This 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.
    • Technology & Firm specific Knowledge• … 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).
    • Technology & Firm specific KnowledgeImportance / 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.
    • Technology & Firm specific Knowledge… 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
    • Technology & Firm specific Knowledge… 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
    • Technology & Firm specific Knowledge… 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
    • Technology & Firm specific Knowledge… 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 By Dr. Vijay Kr Khurana