Technology has a huge impact on the lives of people. From the creation of the wheel that allowed humans to travel on their own environment, to the invention of the printing press, technological innovations have shaped how we live.
Technology is the science of applying scientific knowledge to change the human environment. It is not limited to gadgets and tools, but involves a wide range of fields such as engineering and the social sciences.
While the term “technology” first referred to the discussion of applied arts, later it was used to refer to a wide range of techniques, processes, and machinery. The word was eventually translated into the German language as Technik.
The term has also been used as a metaphor for the industrial technology that dominates our daily lives. In the 19th century, Faust by Goethe was often interpreted as a metaphor for industrial technology.
However, the concept of technology does not always follow from science, and sometimes it can cause harm. In fact, the negative effects of technology have been widely denounced in dystopian literature. The Unabomber Manifesto and A Clockwork Orange are two notable examples of the criticisms of technology.
Many businesses use technology to produce products and services efficiently. In order to do so, they must understand the market, production criteria, design solutions, and economic criteria. These criteria are then compared, and the best solution presented to the management and other team members.
For example, the mobile phone industry gains competitive advantage through advanced technologies. Similarly, the Martian balloon industry has been impacted by intense competition in the last decade.