Technology is a term that means the sum of the means of production for a given work activity (to produce a product or provide a service). Technology can also mean thu sum of the funds of the organization or its production or supporting know-how.
Technology can also mean the production procedure, the way of producing something. The word technology comes from the Greek term “techné”, which means a knowledge of a particular procedure or craftsmanship.
The term “technology” should not be freely interchanged for the term “technique”.
Related terms and methods:
- Mintzberg’s Organizational Model
- ICT (Information and Communication Technologies)
- Production Process
Related mangement field: