•J.K.Galbraith defines technology as a “systematic
application of scientific or other organised knowledge to
• Technology means systematic knowledge for the
manufacture of a product, for the application of a
process or for rendering a service in more useful and
FEATURES OF TECHNOLOGY
•Technological environment changes very fast.
•Technological environment affects the manner in which
the resources of the economy are converted into
•Technological environment is self reinforcing.
•Hard technology and soft technology.
•Practical application of knowledge.
IMPACT OF TECHNOLOGY IN
•Increases the productivity.
•Good quality product.
•Improved Communication Processes.
•Increased Employee Productivity.
•Marketing process makes easy through digital media.
•Easy to control the different branches from one place
with the help of technology.
•Import of technology is also know as technology
•It can be in form of business agreement between
•or MNC’s.• It can be as trade agreement between
PROBLEMS IN TECHNOLOGY
• Loss to Domestic Technology
• Excess Cost
• Excess Risk
• Inappropriate Nature of Technology
• Restrictive Conditions
• Complex Technology Transfer
• Adverse Effect on Balance of Payment
• Problem of Experts
• Resistance by Employees
• Regional Disparity
• Government Resist
• Appropriate technology is small-scale technology. It is simple
enough that people can manage it directly and on a local level.
Appropriate technology makes use of skills and technology
that are available in a local community to supply basic human
needs, such as gas and electricity, water, food, and waste
• Businesses are affected by changes in the
technological environment. Technological change offers
risks, opportunities and threats to businesses. Some
businesses can leverage changing technology to
improve products and processes or even create new
products and processes that will expand markets and
• There are some defects of technological environment,
everything done should have both positive and