Importance of Technology and Innovation

Have an assignment you are stuck with? Leaf through this page to know about the importance of technology and innovation in national and international context.

With knowledge bases being created within the US, many businesses are opting for globalization of their research and development through technology knowledge transfer across the American waters to other countries.  Many companies in the US have been converting their own knowledge reserve and the knowledge base gained through acquisitions and business liaison with other developing nations, thereby maintaining a strong place in the global market.

Technology and Innovation

Technology and Innovation

There are many companies who are becoming more focused towards developing their technical knowledge base to achieve superior position in the market and also to use the technology for making innovations. More stress is being laid on innovations thereby bringing in the necessity for increased funding for research and development wings. The strategies which a company chooses for innovation could be for introduction of new product or to bring up changes in existing product line. Continue reading