I need a 2 page paper in apa format please also cite sources Scenario: You are a CEO of well-established and profitable software technology firm that has a choice to invest in one of two new software
odule 2: Module Notes: The Process of Technological Change
When we evaluate the source of technological changes, we may ask several questions, such as what factors determined the development of technologies? Why might certain technologies appear when they do? In this module, we delve into such topics as understanding the timing of the introduction of digital computers when the basic principles were understood years before, and the rapid changes in technology involving photography. Once we understand more about technology in general, then we can explore how science and technology have influenced each other. For example, does science dictate technology or the other way around? Lastly, we learn how technologies are adopted and diffused into the marketplace.
Technological change generally occurs in two magnitudes, incremental and discontinuous change. Incremental change is centered on small improvements to existing or developed systems. Most systems or products will require some improvements when placed in use; these are typically minor in nature but either improve performance or add minor features. In some business models, this is actually a planned process where, after the release of a product, small improvements identified during the testing and deployment phase of the product are added to incrementally improve the value of the product to consumers. Systems like this allow companies to maximize the value of the product or process over a longer period of time.
Discontinuous change occurs on a much larger scale and results in a significant paradigm shift in product offerings or operations. The name implies that old products cease to exist, while new products take over the market. This is not always true, however, and in many markets the new product becomes mainstream at a premium, while older systems are discounted to reduce inventory, often with an assigned moratorium on support services.
The concepts of incremental and discontinuous change highlight an important part of technological development - the fundamental difference between science and technology. Understanding this difference is key to understanding the distinct influence each has on each other. One of the most common beliefs about technology is that it is simply applied science. While it is true today that much of the knowledge required for technological advance is derived from scientific inquiry, there have been many instances when technological advances have taken place without scientific knowledge. Consider the ancient Greeks, for instance. The Greeks made significant and well-known contributions to the sciences (astronomy, acoustics, mathematics, etc.) seeking to understand the natural world around them, while their technological achievements were far less substantial. Compare this to the Romans, whose contributions to science are dwarfed by their widely renowned engineering innovations, which are studied extensively to this day. These historical examples emphasize the utility, and major difference, of each. Science is aimed at the discovery of knowledge for it’s own sake, a purely intellectual venture, while technology develops and employs knowledge to get something done. It goes without saying that as we utilize the two in a combined effort technological advance has far more potential at a far greater rate of change.
A wide range of factors drives technological change. Often we will see technological success become the driver for continuing product focus; successful offerings gain the support of other developers, who then seek to improve the product. Technical success in other production systems may serve as an inspiration to engineers considering changes or improvements to their own system. For instance, a gearing system developed for a commercial sewing machine might be found to be a good solution for other non-clothing-industry machines. The history of the United States is actually widely marked by technology adaptation from abroad, with the U.S. generating fewer original innovations than other countries; however, in a recent rating by Bloomberg, the U.S. was ranked as number one in the innovative country category. Bloomberg uses a ranking system to evaluate R&D intensity, productivity, high-tech density, researcher concentration, manufacturing capability, and more. To review the top fifty innovative countries in more detail, please follow the link at Bloomberg. As you consider technological changes in this course and in your future careers, you should not discount the idea that someone else may have already solved your technical problem. Personal protection is one reason to become skilled at research.
In our upcoming activities, we learn about contemporary inventions, the fundamental differences between science and technology and the social factors that affect product success and diffusion. You will write a short paper discussing how a CEO may make decisions based on technology and risk. During this module, you also present your first team assignment, developing a synopsis on an innovative technology.
