Since the beginning of the industrial revolution and market driven economy, business management has became more and more scientific in nature. Technology is defined as the application of scientific knowledge for practical purposes, especially in industry. Even though the present understanding of "Business Technology" limited to the information systems, database management, software engineering and usage of information technology in organizations, application of technology in business are not necessarily limited to those high tech functions. More and more scientific and hence technology in nature.
Application of science in business function has made the drastic changes in modern business world. Business are running based on scientific management, management by objectives, knowledge management, total quality management, six sigma, balance score card, supply change management, operational research, E-Commerce, E-Business and even E-Accounting.
On the other hand, continuous product and process invention and innovation have become not only a source of competitive advantage for the business; it is rapidly becoming basic survival tools in global business world. Hence innovation management, innovation development, intellectual property protection have become integral functions in modern businesses.
Application of science in business function has made the drastic changes in modern business world. Business are running based on scientific management, management by objectives, knowledge management, total quality management, six sigma, balance score card, supply change management, operational research, E-Commerce, E-Business and even E-Accounting.
On the other hand, continuous product and process invention and innovation have become not only a source of competitive advantage for the business; it is rapidly becoming basic survival tools in global business world. Hence innovation management, innovation development, intellectual property protection have become integral functions in modern businesses.
Therefore application of scientific and technological products and processes in all aspects of business operations and functions has made the functional cells of business organization technology driven functions. Therefore, future entrepreneurs, managers, consultants, researchers, and educators should understand the technology of modern business functions.
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