TEACHER: Hello, Scholar. Our discussion begins with the information of two essential concepts: know-how plus can-do.

Technology signifies knowing how to perform something: the know-how. Every commercial organization needs to possess the know-how of a few process, no issue how simple it might be.

Yet to actively participate in the marketplace, know-how must be complemented have real profit implement the technology, typically the can-do.

Can-do is usually a must. A firm may have typically the technical familiarity with a new given productive method, but it can certainly not put it on profitably without the way to perform it efficiently. Sonia Randhawa -do includes accessibility to trained personnel, money goods (machinery plus installations), and in addition the ways to industry the goods.

STUDENT: How can a new firm acquire ingenuity?
TEACHER: The fundamental techniques to acquire technology are:

� Employ personnel with competence in the industry.
� Purchase ingenuity from other businesses through license and/or technical assistance deals.
� Receive this from the manufacturer of specialized products installed.
� Execute in-house research and even development (R&D).

You should mention the require of a Technologies Strategy.

In most businesses, from a footwear manufacturer to a new chipmaker, some variety of Technology Strategy must be in place to stay aggressive and spot possibilities

STUDENT: Do we discuss and sort of such strategy?
TEACHER: Confident.

Elements of some sort of Technology Strategy

We. Awareness

� A good must be constantly aware about the current and upcoming technology in its industry, be it by external sources involving from within the company. The ways to do this a wide range of, from scanning industry magazines to attending trade shows to efficiently managing involving the in-house pool area of know-how.