Friday, September 1, 2017

Technology Innovation

Industrial Revolution

During certain periods in history innovation in technology have grown at such a rapid pace that they have produced what have become known as industrial revolutions. The term Industrial Revolution originally referred to the development that transformed Great Britain, between 1750 and 1830, from a largely rural population making a living almost entirely from agriculture to a town-centered society engaged increasingly in factory manufacture. Other European nations underwent the same process soon thereafter, followed by others during the 19th century, and still others (such as Russia and Japan) in the first half of the 20th century. In some countries this transformation is only now taking place or still lies in the future.

Research and Development

In the 20th century technological innovation has been to a large degree institutionalized by organized research and development (R&D). This phenomenon paralleled, and to some extent antedated, the second Industrial Revolution. Some large firm in science-intensive industries maintains R&D laboratories employing thousand of people. R&D organizations operated or largely sponsored by national government are another source of technological innovation, as are the engineering and science departments and research institute of universities.

Under these circumstances private inventors are likely to play a progressively smaller role in bringing about innovation, although they are not likely to disappear altogether. That smaller role is especially evident in the stages of innovation that follow invention, development, testing, design, production, marketing, and distribution, that now often require financial and managerial resources that are beyond the capabilities of the inventor entrepreneur.

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