Impact of Technology on Production.Doc

What is Technology?
Technology is not just about computers and latest gadgets.

Technology is the practical application of science to improve human life.

Technology is important because we depend on so many assets; basic tools, irrigation, medical advancements, and that is to say nothing of the convenience of modern-day.

Technology is the development of new skills, approaches and techniques which make something easier to do in a more accurate and efficient way.

What is Productivity?

Productivity = Value / Time
(productivity equals value divided by time)
By this definition there are two primary ways of increasing productivity:
1) Increase the value created
2) Decrease the time required to create that value
You can complicate this definition by including other factors like energy and resources, but I prefer the simplicity of time because in most cases factors like energy and resources are reducible to time anyway. Time also makes it very easy to compare different levels of productivity, such as output per hour or per day.
    - There are four things which contribute to productivity:
        o Impact –
              ▪ What extent is the value provided?
              ▪ Who receives the value? Yourself, your boss, your co-workers, your customers, your team, certain investors, your community, your country, all conscious beings, etc?
              ▪ What degree of value is ultimately received by each person or group? Are you providing value to one person, 10 people, 100 people, 1000 people, millions of people, the whole planet?
              ▪ How much do you feel the value you provide ripples outward beyond those you provide it to directly?
              ▪ How quickly do those ripples dissipate?
              ▪ What’s your sense of the basic level of impact of your value?
              ▪   Is it limited or expansive?
              Greater leverage means greater potential impact
        o Endurance –
              ▪ How long does...