A-1- TECHNOLOGY DEFINITION AND ROLE
Technology is a set of effective skills, methods, and procedures that evolve and reach sophistication with time. Technology evolution promises more productivity, higher speeds, greater capacity and lower costs. New technologies play a critical role in the competitiveness of an organization, either through new marketable products or through systems and procedures the organization can use to enhance its performance.
Understanding how technologies evolve gives the manager insights into how new technologies will emerge and how they can be used to improve products or organizational performance.
This report gives the general feel of the technology evolutionary process and how it was driven by social, economic, technological, and political powers over the centuries with an emphasis on the twentieth century, which witnessed the highest rate of technological evolution ever.