Technical environment

Technology envisages all aspects of applied sciences for achieving a practical purpose- a totality of the means employed to provide objects for human sustenance and comfort. It may be denoted that the word “science” refers to a systematic body of knowledge. When this knowledge is put into practice, it becomes technology. Advantage in science helps develop new technologies. The changing social and commercial need provide the drive for new scientific discoveries and innovations. The technological environment consists of the inventions, techniques and the vast store of organized knowledge of ways of doing things. The modern business is characterized by newer and ever- changing technological developments. This not only calls for the technological changes. Technological changes, which are undoubtedly the most familiar ones, include the significant modification in products and services; in the way they are product and marketed. Technological changes such as advances in radio, television, and printing processes have influenced the style of advertising goods and services.  Through the use of computers and other electronic data processing equipment, the whole system of decision making has undergone a great change. Information in material handling, storage, and transportation have enabled the managers to make product available to consumers at the right time, in the right place, and in relatively good condition. The managers must therefore, grasp a proper understanding of these aspects of technological environment.