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Technology Flow - Assignment Example

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In the paper “Technology Flow” the author looks at technology, which has provided improved ways of production and now, one can produce anything in reduced time and effort as compared to before. Technology flow has been facilitated by increased globalization…
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Technology Flow
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Download file to see previous pages Technology flow has been facilitated by increased globalization and thus we can now import new machinery from anywhere in the world.
When productivity increases, companies are able to decrease the prices of their products which helps them gain a competitive advantage. This way other companies are threatened as their sales can decrease and thus their profits.
Therefore using new technology has become a hardcore requirement for every organization in order to compete. Quality of course matters and not just the prices, but with improved methods of production, companies can offer better quality with reduced prices. China is a great example to prove this thing. China with its improved methods and technology along with its cheap labor has captured a larger share of the world's market in many industries. If Pakistani workers can produce 3 jackets in one hour, a Chinese worker can do the same in half the time and the major reason being the usage of improved technology. Therefore one needs to adapt to the changes in the environment constantly especially technological changes.
Information and communication technology has helped a lot in easing the business transactions in no time and with reduced cost. Due to this development, people can now do business throughout the world very easily. One of the major things is the development of conference calls. Conference calling enables multiple people to talk to others at the same time in any part of the world in real-time. Due to this, people can coordinate their activities with their colleagues every time and thus no delays or confusion occurs. This, therefore, helps in increasing the productivity of the firm as the chances of errors are reduced.  ...Download file to see next pagesRead More
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