Throughout the study of technology development two main themes recur, technology innovation and its diffusion. Though these concepts may seem particular, there are several facets to each. This discourse will detail the main concepts and the advantages and disadvantages of their related facets.
Technology innovation is the discovery or evolution of products or processes that are advancements over the prior methodologies. Innovation allows for the continuous improvement of technology allowing for conservation of resources, improvements in efficiency, and improvements in the quality of life. Technology development is not complete, however with innovation alone. Once innovation has occurred, the new art must be generally adopted and disseminated. This process of technology development is referred to as technology diffusion.
Affecting both technology innovation and diffusion are factors of critical importance. In fact, it has been evidenced that these factors are also of increasing gravity with the continued technology progression. The influences of globalization, time compression, and technology integration both advantage, and hinder the development of technology. Globalization
Firstly, consider the effect of globalization, or the influence of various environments throughout the world in the innovation and diffusion of technology. Technology development in communications and transportation has lead to the ability of markets to open throughout the world with innovation spreading rapidly. To maintain competitive advantages in the global economy, enterprises have become multi-national. Multiple benefits arise out of globalization. Enterprises may reduce product costs by producing and developing goods in regions where labor is inexpensive or materials and resources are in abundance. Such arrangements are also beneficial to developing nations as it allows for economic development of previously depressed...