Technology is the collective term for the totality of any systems, procedures, techniques, know-how, and skills used in the creation of products or services or merely in the achievement of specific objectives, like scientific research. In addition, technology is also used to refer to the tools, materials, and equipment utilized in any technological activity. A wide variety of technological systems are designed to meet definite needs. In a technological system, technology is involved in the process of producing, delivering, processing, marketing, selling, and supporting any type of product or service. Any procedure in this book that is concerned with human activities is a part of technology.
There are three broad categories of tech: corporate tech, individual tech, and service tech. Corporate tech refers to those companies specialized in sales and service. Individual tech refers to those who design, develop, test, and maintain technologies. Tech companies must be flexible to satisfy customer requirements; they must be able to rapidly adjust to changes in customer demand and to integrate new technologies with existing ones. All tech companies depend on continuous up-front effort for technology implementation.
The primary role of a tech company is to build a culture of knowledge-making, data-management, technical innovation, and communication at the organization as a whole. The organizations need to have high-quality technical education programs in order to create technological thinking and innovative products. They need to cultivate talent in order to deliver cutting-edge technology to their clients. At the same time, they should keep up with the fast-paced changes in today’s market by offering tech-enabled businesses options that will work to their customers’ budgets. To be considered tech-enabled, these companies need to embrace a holistic approach that takes into consideration not only the technological investments they make in employees, but also the investments they make in technology and other forms of research and development.