What Does It Mean to Be Technology-Driven?
Technology-driven is a term that can describe businesses, mindsets, innovation, or entire economies.
Many different factors can serve as the basis for a technology-driven business or a socio-economic process, such as:
- Design and meaning
- Supply and demand
Processes that are technology-driven refer to processes that are driven by the potentials of available technology.
For instance, a new scientific development can result in new technological advancements. Those new technologies can then produce new products and services.
Businesses that choose to take advantage of cutting-edge technology provide another example. They allow technology to drive at least part of the value added by their organizations.
For businesses, there are a number of advantages to being technology-driven:
- Companies are more adaptable in the face of evolving technology, offering them more flexibility and agility
- A culture that embraces change and innovation is often more creative, developing new solutions that perform well in the marketplace
- Technology-driven companies often reap more substantial benefits from the technology they implement, which also gives them advantages in the marketplace
In recent years, we have seen technology rise to become one of the most prominent drivers of change and innovation.
Because of this, many businesses should consider what benefits they could gain by placing a stronger emphasis on technology within their organization.