Technology Competence - Meaning and its Features
Introduction
Technology is a term that is frequently used in the business world. It is a term habitually related to science. But there is a significant difference between the two. Science comprises of outcomes of basic academic studies whereas technology infers to the relevant application of science. This difference is critical when it is to be understood about the manner in which businesses attain new technologies.
The significance of technology to an organization is positioned in the reality that having of technology can provide a competitive advantage. Consequently technology can be considered as an asset of strategic importance. In addition it can be said that an organizations capacity to handle and take advantage of technology can symbolize a core competence.
Technology Competence Features
Technology competence can improve an organizations product portfolio. This is possible in different ways as below:
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