Technology

What Is the Relevance of Technology?

July 13, 2020

“Technological know-how within the very long-operate is irrelevant”. That’s what a buyer of mine advised me when I created a presentation to him about a new product. I were referring to the solution’s functions and Rewards and outlined “point out-of-the-art technologies” or something to that result, as one of them. That is definitely when he manufactured his assertion. I noticed later that he was proper, at the very least in the context of how I made use of “Technological innovation” in my presentation. But I started contemplating whether he could possibly be suitable in other contexts as well.

Precisely what is Technological know-how?

Merriam-Webster defines it as:

1

a: the practical software of data particularly in a selected space: engineering 2

b: a capacity specified by the practical software of information

2

: a manner of accomplishing a job Particularly employing technical processes, solutions, or know-how

3

: the specialized areas of a specific field of endeavor

Wikipedia defines it as:

Technologies (from Greek τέχνη, techne, “art, skill, cunning of hand”; and -λογία, -logia[1]) is definitely the producing, modification, utilization, and expertise in tools, machines, approaches, crafts, systems, and methods of Corporation, as a way to address a problem, increase a preexisting Answer to an issue, realize a goal, tackle an applied enter/output relation or accomplish a selected purpose. It can also consult with the collection of this kind of resources, such as equipment, modifications, arrangements and procedures. Systems substantially impact human as well as other animal species’ capacity to Manage and adapt for their natural environments. The time period can either be utilized usually or to unique places: illustrations involve building technologies, professional medical engineering, and data know-how.

The two definitions revolve round the exact thing – application and use.

Technologies is surely an enabler

Many individuals mistakenly believe it’s engineering which drives innovation. Nevertheless within the definitions above, which is Obviously not the situation. It’s opportunity which defines innovation and technological innovation which allows innovation. Think about the traditional “Develop a greater mousetrap” illustration taught in many business colleges. You might have the technological know-how to construct a better mousetrap, but When you have no mice or perhaps the previous mousetrap functions properly, there isn’t a option after which you can the technologies to create a far better 1 gets irrelevant. Conversely, Should you be overrun with mice then the opportunity exists to innovate a product utilizing your know-how.

An additional example, one with which I’m intimately familiar, are buyer electronics startup organizations. I have been associated with both of those people who succeeded and those that failed. Every possessed unique major edge systems. The main difference was opportunity. Those who failed couldn’t obtain the opportunity to acquire a significant innovation employing their technologies. In truth to outlive, these companies had to morph frequently into something entirely various and whenever they ended up lucky they could make the most of derivatives of their authentic technological innovation. More often than not, the first technological know-how wound up in the scrap heap. Engineering, As a result, is undoubtedly an enabler whose best worth proposition is to produce improvements to our lives. As a way to be suitable, it has to be utilized to generate innovations that are driven by prospect.

Know-how to be a competitive benefit?

Lots of firms record a technological innovation as just one of their competitive positive aspects. Is this valid? Sometimes Indeed, but Usually no.

Technologies develops alongside two paths – an evolutionary path and also a innovative route.

A innovative technologies is just one which enables new industries or permits remedies to troubles which were Earlier not possible. Semiconductor engineering is an efficient instance. Not just did it spawn new industries and goods, however it spawned other innovative systems – transistor technological innovation, built-in circuit technological innovation, microprocessor engineering. All which provide a lot of the services and products we take in nowadays. But is semiconductor technological know-how a competitive edge? Considering the volume of semiconductor organizations that exist today (with new types forming every day), I would say not. What about microprocessor technologies? Again, no. Many microprocessor firms out there. How about quad core microprocessor technological know-how? Not as numerous organizations, but you may have Intel, AMD, ARM, and a number of providers building custom quad Main processors (Apple, Samsung, Qualcomm, and many others). So yet again, not much of the competitive advantage. Competitors from competing technologies and easy accessibility to IP mitigates the perceived competitive benefit of any distinct technologies. Android vs iOS is a good illustration of how this is effective. Both of those running programs are derivatives of UNIX. Apple used their technological know-how to introduce iOS and received an early marketplace gain. Even so, Google, using their variant of Unix (a competing technology), caught up somewhat rapidly. The reasons for this lie not in the underlying know-how, but in how the items built feasible by Individuals technologies have been brought to current market (no cost vs. walled garden, and so forth.) and also the distinctions while in the strategic visions of every corporation.

Evolutionary technological know-how is a person which incrementally builds on the base innovative technological know-how. But by it’s totally character, the incremental modify is easier for just a competitor to match or leapfrog. Choose such as wireless cellphone technologies. Company V launched 4G goods ahead of Firm A and although it can have had a temporary gain, as soon as Corporation A introduced their 4G solutions, the gain on account of technologies disappeared. The buyer went back again to picking Company A or Firm V based on value, assistance, protection, whatever, but not depending on know-how. So technologies may need been related while in the temporary, but in the long term, turned irrelevant.