Know-how encompasses a broad body of knowledge and instruments that facilitate the successful and revolutionary use of economic methods in making products and providers. Hence, technological improvement is significant to economic expansion and advancement. The extra superior the technologies readily available, the speedier the local and global economies can make improvements to. The function of technology in economic improvement is even more mentioned under.
On the battlefield of financial company, technological know-how can be a strong weapon. Increasing R&D investments, nevertheless, does not ensure that businesses will successfully use engineering as a competitive weapon.