Technology, the application of scientific knowledge to the practical aims of human life or, as it is sometimes

phrased, to the change and manipulation of the human environment.

Technology is the use of scientific knowledge for practical purposes or applications, whether in industry or in our
everyday lives. So, basically, whenever we use our scientific knowledge to achieve some specific purpose, we're
using technology. Well, there is slightly more to it than that. Technology usually involves a specific piece of
equipment, but that equipment can be incredibly simple or dazzlingly complex. It can be anything from the
discovery of the wheel, all the way up to computers and MP3 players.

innovation

Read more: http://www.businessdictionary.com/definition/innovation.html

The process of translating an idea or invention into a good or service that creates value or for which customers will
pay.
To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need.
Innovation involves deliberate application of information, imagination and initiative in deriving greater or different
values from resources, and includes all processes by which new ideas are generated and converted into useful
products. In business, innovation often results when ideas are applied by the company in order to further satisfy the
needs and expectations of the customers.

Read more: http://www.businessdictionary.com/definition/innovation.html

Mti

The management of technological innovation is both an art, as well as a science; the process involves the know-how
and technological core skills to deliver the functionality on the one hand, and (with an ear on the ground) the ability
to identify changes in technologies to come up with new innovations on the other. This requires, as a result,
frameworks, system tools, and methodologies to improve the yield in innovations.

Managing Technological Innovation provides a set of tools and case studies for R&D managers to effectively
manage technological innovations — from the identifying of technological needs to the launch of the product. The
book is divided into five parts. Part 1 addresses the policies and strategies necessary to provide direction to R&D
organizations in the management of technological innovation. Part 2 focuses on technological assessment;
presenting the methods available to better matfching of technologies to strategic directions, supported with case
studies to illustrate the evaluation methods. Part 3 covers the development and building of technological portfolios
with new products, as well as mitigation strategies. Part 4 focus on the execution phase of built portfolios — the
development of new products. And finally, Part 5 rounds up with a study on the factors which impact the diffusion
of technological innovations into the market place.

This book is a practical guide for R&D professions and designers, as well as a case study reference for graduate
students in pursuit of their project work.

Innovation Management is important, in short, because it enables a company to maintain competitiveness in the
future. Good innovation management will allow the company to have a higher profit margin and stay ahead of its
competitors, while poor innovation management can cause a company to be stuck with obsolete offerings and go out
of business.
IT Era

We are living in an information era, and the most prosperous time in human history.

Little over 150 years ago, most people spent an average of 60 percent of their time just to survive. Those days, people
had to spend their time wisely or they or their family will starve. Now, 0.1% of the people can feed the entire
population. This allowed people to be more efficient with their time, but started spending time less wisely.

What do you do during free time? Sadly most people spend time consuming content made purely for entertainment.
What about watching news happening around the world? I would argue that most of this are also time wasted since
chances are you are not making any difference by watching it.

When people have nothing to do, it is a extremely disturbing. Study shows that people prefer pain over boredom. One
of the reasons is probably because we want to feel efficient. However, is watching news, Netflix, and playing games
really efficient or is it just a false sense of feeling efficient?

There is a term for reducing the amount of non-essential content that we consume. It is called going on a low
information diet. I am not suggesting totally shut yourself from the news around the world. What I am suggesting is
reduce the amount of unnecessary information you consume and spend more time building skills and relationships
that matter more in the long run.

For myself, I found that most effective way to do this was to get to the source of these bad information. Start
unsubscribing to emails and youtube channels that was purely for entertainment and gave little to no value to my
growth. Remove facebook bookmark so that I don’t click on it because I am bored, but I type in the address because I
need to socialize or organize events. You may also need to change your working environment to clear away
distractions.

As soon as you free up your time from these things, worst thing you can do is spending your time on other
unnecessary informations. This is why it is extremely important to plan out how you want to spend all these extra
time that is now available to you. I would strongly recommend you to learn something you always wanted to learn.
For myself I always wanted to learn Cantonese, so I did. You can also start to socialize more. Having strong
relationships are extremely rewarding and beneficial.

Please comment below on what your new goals are, that would definitely motivate you to start doing something more
meaningful.

Thank you for reading.

1 Technological advancement
Everything that can be invented has been invented.
(The Commissioner of the United States Office of Patents, 1899, recommending that his office be abolished, quoted
in The Economist, 2000, p. 5)
There is nothing now to be foreseen which can prevent the United States from enjoying an era of business prosperity
which is entirely without equal in the pages of trade history.
(Sutliff, 1901)
The rise of information and communication technologies (ICT) – that is, computers, software, telecommunications
and the internet – and the large impact that these new technologies are having on the way that society functions,
have prompted many to claim that we have entered a new era, often referred to as the ‘Third Industrial Revolution’,
the ‘information age’ or the ‘new economy’. Previous industrial revolutions were also linked to the rise of new
technologies: the First Industrial Revolution, concentrated in Britain from around 1760 to 1850, introduced Cort's
puddling and rolling process for making iron, Crompton's mule for spinning cotton and the Watt steam engine; the
Second Industrial Revolution, from around 1890 to 1930, witnessed the development of electricity, the internal-
combustion engine, the railway and the chemical industry. In each of these cases, the new technologies allowed new
industries to develop and economic growth to increase.
The concept of the ‘new economy’ is thus a claim that the emergence of new information technology (IT) was
responsible for the economic prosperity (e.g. rising incomes, rising employment) experienced by most Western
countries in the 1990s. This was the decade in which personal computers (PCs) were diffused throughout the
economy, and the decade which saw the commercial rise of the World Wide Web. The PC reached a 50 per cent
household penetration rate in the USA only in 1999, while before 1990 the internet was used mainly by the US
Defense Department, not for commercial purposes.
However, as the two introductory quotations indicate, proclamations that we have entered a ‘new’ era are not new.
In fact, the advent of electricity, the internal-combustion engine and the radio telegraph witnessed similar
proclamations about the future. They too emerged during periods of prosperity; for example, electricity and the
automobile diffused through the economy during the prosperous and ‘Roaring’ 1920s. So how can we tell whether
we are really entering a qualitatively new era or whether recent changes have simply been a quantitative extension
of the past?
This course uses tools and frameworks from economics to study this question. It focuses on the historical and
theoretical relationship between changes in technology, productivity and economic growth. The key driving force
discussed will be technological change: that is, organisational and technical changes in the way that societies
organise production and distribution. The question is: what exactly is so new about the ‘new economy’? Some
economists focus was on the effect of new technologies and work practices on the way that people live and work,
here the focus is on the organisation and evolution of firms and industries.
In each industrial revolution (including the current one), important non-technological factors have influenced
industry dynamics and growth. Socio-political factors have been particularly prominent. For example, the rise of
industrial trade unions in the Second Industrial Revolution greatly affected firm-level, industry-level and country-
level growth. In this course, however, the analysis is limited to the role of technology.
We shall conduct our investigation by focusing on two related questions, neither of which has a clear-cut answer.
The goal of the course is to help you to think about these questions using concepts and tools from economics.
First, after a brief overview of the concept of the industrial revolution, I shall ask whether the rise of IT has
significantly affected economic growth, as new technologies did in previous eras. Focusing on the effect of
technology on economy-wide growth implies that the perspective is a macroeconomic one. Macroeconomics looks
at the functioning of the economy as a whole.
Second, I shall take a more microeconomic perspective. Microeconomics looks at the functioning of individual
elements of the economy, whether they be consumers, firms, industries or markets. I shall ask whether the rise of
new information technologies has fundamentally changed the way that individual firms and industries operate. To
do this, I shall compare the patterns that characterised the early phase of a traditional industry with those that
characterised the early phase of a relatively new industry. The traditional industry (one that is today considered to be
relatively ‘mature’, not high growth) is the US automobile industry from 1900 to 1930, while the relatively new
industry is the personal computer industry from 1975 to 2000. The similarities will lead us to ask whether we are
 really in a ‘new economy’ or simply in an economy driven, as in some past eras, by the development of new
industries.

Pros & Cons of Living in The Era of Technology

Last Updated on November 26, 2018

There is little doubt that we are currently living in the age of technology. With ever evolving technology at our

fingertips is should come as no surprise that every facet of ours lives is now becoming dependent on

increasingly complex devices. There is no question that such devices have enriched our lives making them

infinitely easier, but all to often we overlook the negative aspects of living in such a digital world. Let’s take

some time to weigh out the pros and cons of living in this era of technology.

Table of Contents
 The Pros of Living A Digital Life
 The Cons of Life in The Technology Era
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The Pros of Living A Digital Life

The benefits of technology are all around us and can be seen in everything from electricity to global

communications. Our cars and cell phones have navigation systems to ensure that we do not get lost. We can

pay our bills at the touch of a button on the internet. Our cellphones have e volved into tiny little computers in

our pockets.

We can now communicate with anyone, anywhere in the world at any time not only by telephone, but also by

video conference, instant messenger and email. With faster internet connections being introduced on a daily
basis it seems like the only limit to what technology can do is our own imagination. All of these innovations

have one goal in mind – to make our lives easier!

Let’s look at a couple of examples. First, consider that you are the parent of a teenager. It’s 10pm and your 14-

year-old daughter has missed her curfew by 30 minutes. What goes through your mind? Did she get kidnapped?

Hit by a car? Attacked? The possibilities are terrifying.

However, thanks to technology she has her mobile phone and you can give her a call (because your teenager will

not think to call you first!) and establish that she is perfectly fine, but missed the bus home from the movies and

had to wait for the next one. Some parents might then think, ‘wait, she could be lying! What if she is with that

no good boy from a close by town?’

Thankfully, technology has your back and you can use the GPS tracker on the mobile phone monitoring app you

installed on her phone and confirm that yes, she truly is at the bus stop by the movie theatre! You could even

check her text messages to confirm that she really did go to the movie with Jill and not Jack!

Another scenario could be that you just left the office and are half way home when a colleague calls you in a

panic because they need an urgent file from you. You would need to get off the subway and head back to the

office, right? WRONG! Thanks to technology you can use your mobile device to log onto your cloud storage

and email the file to the colleague and still make it home for dinner!

The Cons of Life in The Technology Era

It all sounds great, but there are still plenty of downsides. It seems like every other day the news is reporting

cyber crimes as criminals begin to take advantage of our technology dependence. People have their credi t card

numbers stolen and businesses have their information hacked or computer systems disabled.

We are so dependant on technology that if for example, the bank’s computer network failed, it is likely that

most day-to-day operations would grind to a halt! While global communications are a great innovation they are

also a dangerous one as the internet affords everyone some degree of anonymity.

Let’s go back to the example where you are parenting a teenage girl. What if that cinema date was actually her

meeting up with someone she got talking to online? Someone she thought was 14 years old like her, but in

reality was a 50-year-old predator? Even although most parents try to teach kids about internet safety, teens
believe that they are invincible and know best. ‘It will never happen to me’ is a phrase uttered by every teen at

some point!

Thankfully, although technology created this dangerous situation, technology can also resolve it. If you have

mobile phone spying software installed on her phone then you could have intercepted those plans to meet and

put an end to it before anything bad had a chance to develop.

So is technology good or bad? The answer, quite simply is both! Technology is a great thing that makes our

lives so much easier, but at the same time it must be treated with respect as it also has negative sides. It’s kind

of like a hammer. You can use the hammer to build things or to harm others.

In theory, technology is neutral. At the end of the day it’s up to us to use it for good or evil.

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Essay topics: What are the advantages and disadvantages of living in an era in which new things are constantly
being invented?

Submitted by Vaka143@2 on Sun, 04/08/2018 - 02:39

The importance of living in an generation where technologies are constantly changing was always a debatable topic.
Many people state that technological invention has helped us in all aspects of life and it is beneficial to mankind.
Others reject this notion and argue that invention has few advantages. In my opinion, former proposition appears to
be more rational. The following essay would further elaborate both advantages and disadvantages of these daily
inventions to human life with appropriate reasons and thus lead to a plausible conclusion.

To begin with, in present world innovation is success mantra for everyone. Firstly, technology invention has many
advantages in all the fields. For example, invention is farming has helped farmers to reduce their workload,
invention in medical sciences helped to cure many dreadful diseases such as cancer, HIV and many more. Several
startups helping to reduce the daily life problems. These examples clearly shows the advantages of inventions in
different sectors in our daily life.

On the other hand, invention has also few disadvantages. Technology invention leads to more employment of
machinery and less human labor which results in unemployment. Another main concern with is people are more and
more depending upon the machinery which leads to laziness. From the example it can concluded that the invention
is impacting the life of working class people.

In conclusion, after analyzing both disadvantages and advantages in the present world, invention is more boon to
society than bane. In a nutshell, it can summarized as inventions has helped us to create a new and better world.

60d. Living in the Information Age

Here is an illustration from the days of modem-connectivity to the web.

Some have begun to call it the Information Revolution. Technological changes brought dramatic new options to
Americans living in the 1990s. From the beginning of the decade until the end, new forms of entertainment,
commerce, research, work, and communication became commonplace in the United States. The driving force behind
much of this change was an innovation popularly known as the Internet.
Personal computers had become widespread by the end of the 1980s. Also available was the ability to connect these
computers over local or even national networks. Through a device called a modem, individual users could link their
computer to a wealth of information using conventional phone lines. What lay beyond the individual computer was a
vast domain of information known as cyberspace.

Upon its release in 1983 the Apple "Lisa" computer — named for one of its developers daughters — was supposed
to revolutionize personal computing. But interest in "Lisa" was minimal due to its nearly $10,000 price tag and the
introduction of the much more affordable "Macintosh" a year later.
The INTERNET was developed during the 1970s by the Department of Defense. In the case of an attack, military
advisers suggested the advantage of being able to operate one computer from another terminal. In the early days, the
Internet was used mainly by scientists to communicate with other scientists. The Internet remained under
government control until 1984.
One early problem faced by Internet users was speed. Phone lines could only transmit information at a limited rate.
The development of FIBER-OPTIC cables allowed for billions of bits of information to be received every minute.
Companies like INTEL developed faster microprocessors, so personal computers could process the incoming
signals at a more rapid rate.
In the early 1990s, the WORLD WIDE WEB was developed, in large part, for commercial purposes. Corporations
created home pages where they could place text and graphics to sell products. Soon airline tickets, hotel
reservations, books, and even cars and homes could be purchased online. Colleges and universities posted research
data on the Internet, so students could find valuable information without leaving their dormitories. Companies soon
discovered that work could be done at home and submitted online, so a whole new class of telecommuters began to
earn a living from home offices unshaven and wearing pajamas.
New forms of communication were introduced. ELECTRONIC MAIL, or EMAIL, was a convenient way to send
a message to associates or friends. Messages could be sent and received at the convenience of the individual. A letter
that took several days to arrive could be read in minutes. Internet service providers like America Online and
CompuServe set up electronic chat rooms. These were open areas of cyberspace where interested parties could join
in a conversation with perfect strangers.

This map shows just how "wired" the world had become as of mid-1995.
Advocates of the Internet cited its many advantages. The commercial possibilities were limitless. Convenience was
greatly improved. Chat rooms and email allowed individuals to converse who may never have had the opportunity in
the past. Educational opportunities were greatly enhanced because of the wealth of knowledge now placed at the
fingertips of any wired individual. "SURFING THE 'NET" became a pastime in and of itself.
Critics charged that the Internet created a technological divide that increased the gap between the haves and have-
nots. Those who could not afford a computer or a monthly access fee were denied these possibilities. Many decried
the impersonal nature of electronic communication compared to a telephone call or a handwritten letter. Hate groups
were using the Internet to expand their bases and recruit new members. The unregulated nature of the Internet
allowed pornography to be broadcast to millions of homes. Protecting children from these influences, or even from
meeting violent predators would prove to be difficult.
Regardless of its drawbacks, by the end of the 1990s, the world was fast becoming wired.