Technological change or technological evolution, is an overall process of technological evolution, innovation and development of new technologies or procedures. It is also known as a disruptive revolution in business and economics. Business analysts and strategists often term it as a new form of development that disrupts existing markets to force disruptive competitors out of the market. The essence of this change lies in the fact that it displaces current practices or procedures in a market in favor of new ones.
Areas Of Technological Change
Technological change can be categorized into seven areas. These include integrated development, disruptive innovation, knowledge economy, knowledge creation/exchange, collaborative innovation, and software development. These are some of the most important aspects in the life sciences. The combined impact of these seven areas can significantly alter the global economy. This is why both business and academic institutions need to take note of the seven areas of Technological Development.
Climate change is one of the most serious issues of Technological development. The effect of climate change varies across different industries, with the manufacturing sectors of developed nations facing direct and indirect impacts of climate change. For developing countries, incorporating a technology framework for climate change adaptation is crucial to ensure that their institutions and industries are properly prepared to deal with climate vulnerabilities.
There are different perspectives on Technological development. Some believe that it should focus on research and development. Others believe that it should address problems at the grass-roots level and should provide activities focused on attaining organizational objectives. Still others believe that Technological development should integrate the full gamut of strategies to achieve desired results. The key therefore is to determine how a technology development project will address the desired goals and how it will attain its goals in terms of cost-effectiveness and efficiency.
Climate change is an example of a technology development challenge. Adaptation is a key component of the goal of climate change adaptation. While adaptation can be dealt with on a local scale, improving the efficiency by which people and institutions to deal with climate change on a global scale is a daunting prospect. It therefore makes sense to incorporate a technology framework for climate change adaptation. One approach is to consider existing adaptation technologies as part of the technology development process. Another approach would be to consider technologies already in place as key inputs into the process of technology development.
As regards developing countries, it is notable that many of these countries face serious issues in terms of climate change and other natural disasters. It therefore goes without saying that adapting to climate technologies to those countries most affected by such disasters is necessary if they want to ensure a level of economic development and stability. Adapting these technologies can involve incorporating climate technologies in infrastructure design and construction, climate change adaptation in social and cultural policies, and changing attitudes about waste and energy conservation. Achieving a sustainable development will require us to integrate climate change technologies within the development process itself.