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(Articles Covered - Enhancing Competitiveness through Technology Upgradation & Engineering a Difference)
Technology refers to the efficient tools and implements and the knowledge associated with their use. Or in other words technology refers to the knowledge whereby economic efficiency can be improved. Hence, it includes not only the "hard," possibly patentable, aspects of production, like the specifications of goods and the mechanistic details of their manufacture, but also the "soft" aspects of business processes, such as organization, marketing, and other types of managerial knowledge and skills.
Advantages of Technology Upgradation
Means of Technology Upgradation for MSMEs
Limited resources, expertise and time are the factors that push many firms to acquire technology from a source external to the firm rather than developing it in-house. The process of acquiring technology from external sources can be achieved through what is commonly known as "Technology Transfer". In its most general meaning, "Technology Transfer" is seen as every process that aims at transferring technological know-how from a donor such as a university, a research Centre or R&D department of firms to a recipient - firms which may either directly use or co-develop the technology. Technology Transfer is fundamentally the application of knowledge associated with a new physical hardware used by an MSME as machinery equipment in the production process for generating product/service which is quantitatively as well as qualitatively superior to what it was producing earlier.
Sources of Technology Transfer
By: Deepak Hooda ProfileResourcesReport error
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