Technological Environment Affecting Indian Business Essay Sample

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PREFACE

Assignment imbibe an integral part of Business Environment .One cannot merely depend upon the theoretical classroom knowledge but it has to be propelled with fruitful classroom lectures which clear the fundamental concepts to develop managerial administrative skills. Future managers have to enhance their analytical skills. It is necessary that they combine their classroom knowledge with their knowledge of business environment by searching some advancements from the outside world. It helped the group to get deep insight knowledge and provide an opportunity to make management concepts clear. It is difficult to elaborate everything that the group learnt during the preparation of this assignment, however we have elaborated a comprehensive picture of details of “Technological Environment Affecting Indian Business”. in the following assignment. We have accumulated the information through study of various books from library, with the use of internet and our own knowledge.

Technological environment affecting Indian business

Introduction:

Technology can be defined as the method or technique for converting inputs to outputs in accomplishing a specific task. Thus, the terms ‘method’ and ‘technique’ refer not only to the knowledge but also to the skills and the means for accomplishing a task. Technological Environment can be defined as the container that stores all kinds of technology and provides its benefits. Technological Environment affects its surroundings through aspects like technological development, achievement and progress. This becomes possible through Innovation and Invention. Changes in the technological environment have had some of the most dramatic effects on Indian business. Technological Environment basically affects two sections in the Indian economy namely

SOCIETY and INDUSTRY.

TECHNOLOGY CHANGE

SOCIAL IMPLICATIONS:

1. High expectations of customers.
2. Modernization and Urbanization.
3. Social changes.
4. Social systems.

INDUSTRIAL IMPLICATIONS:
1. Productivity and Competition.
2. Need to spend on R n D
3. Increasing Intellectuality of jobs.
4. Unemployment.

Major industries in India include telecommunications, information technology, textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software and pharmaceuticals. The labour force totals 500 million workers.

Indicators of Technical Advancement:

* Trends in the growth of science and technology (S&T) expenditure. * Trends in the growth of research and development (R&D) expenditure. * Total number of technical (including technical-cum-financial) foreign collaborations. * Assistance sanctioned by various financial institutions for technological development and up gradation. * Total value of foreign (outward) remittances on account of payments for foreign technology (like royalties, know-how and technical fees etc). and * Investment in research and technology infrastructure (both in public and private sectors).

TECHNOLOGY AND INDIAN SOCIETY

Technology and society or technology and culture refer to cyclical co-dependence, co-influence, co-production of technology and society upon the other (technology upon culture, and vice-versa). This synergistic relationship occurred from the dawn of humankind, with the invention of simple tools and continues into modern technologies such as the printing press and computers. The social system provides a medium through which and boundaries within which, innovation is adopted.

The structure of the social system affects technological change in several ways. Social norms, opinion leaders, change agents, government and the consequences of innovations are all involved. Also involved are cultural setting, nature of political institutions, laws, policies and administrative structures. For example, all these little changes in mobile phones, like internet access, are further examples of the cycle of innovation and co-production. Society’s need for being able to call on people and be available everywhere resulted in the research and development of mobile phones. They in turn influenced the way we live our lives. As the population relies more and more on mobile phones, additional features were requested.

A. High expectation of customers:

Technology can change the buying patterns of customers. Customers are the crux whenever a business venture is created. Organisations produce to sell, but if the spending power of the consumers decreases or they become averse to a particular type of product or service, the organisation will be affected immensely. It is important therefore, that business leaders are able to gauge the change in tastes and preferences of customers so that they are better prepared for any eventuality.

People want better products with superior quality, safer and free from pollution. For all this to be achieved, more investment has to be done on Research and Development. High expectations can pose a challenge as well as opportunities to the business sectors. The most successful and powerful organisations are looked at with hope for the newest and best products and so it completely depends on their work methods to satisfy the customers with good products or lose their faith with bad products.

B. Modernization and Urbanization:

Technology has resulted in both Modernization and Complexity. Modernization is indicated by a change in people’s food habits, dress habits, speaking styles, tastes, choices, preferences, ideas, values, recreational activities and so on. People in the process of getting them modernized give more importance to science and technology. The scientific and technological inventions have modernized societies in various countries. They have brought about remarkable changes in the whole system of social relationship and installed new ideologies in the place of traditional ones. Urbanization denotes a diffusion of the influence of urban centres to a rural hinterland. It describes the growth of a society in which a major role is played by manufacturing industry.

The industry is characterized by heavy, fixed capital investment in plant and building by the application of science to industrial techniques and by mainly large-scale standardized production. Due to technological changes people are trying to upgrade themselves from just agriculture to other options and opportunities. Hence only when a large proportion of inhabitants in an area come to cities urbanization is said to occur. Urbanization has become a world phenomenon today. An unprecedented growth has taken place not only in the number of great cities but also in their size. As a result of industrialization people have started moving towards the metro cities like Bangaluru, Chennai and Mumbai etc in search of employment. More and more rural areas are thus getting converted in to urban areas to accommodate the moving populations.

C. Social Changes:

The implementation of technology influences the values of a society by changing expectations and realities. The implementation of technology is also influenced by values. There are (at least) three major, interrelated values that inform, and are informed by, technological innovations: * Mechanistic world view: Viewing the universe as a collection of parts, (like a machine), that can be individually analyzed and understood. This is a form of reductionism that is rare nowadays. However, the “neo-mechanistic world view” holds that nothing in the universe cannot be understood by the human intellect. Also, while all things are greater than the sum of their parts (e.g., even if we consider nothing more than the information involved in their combination), in principle, even this excess must eventually be understood by human intelligence. That is, no divine orbital principle or essence is involved.

* Efficiency: A value, originally applied only to machines, but now applied to all aspects of society, so that each element is expected to attain a higher and higher percentage of its maximal possible performance, output, or ability. * Social progress: The belief that there is such a thing as social progress, and that, in the main, it is beneficent. Before the Industrial Revolution, and the subsequent explosion of technology, almost all societies believed in a cyclical theory of social movement and, indeed, of all history and the universe. This was, obviously, based on the cyclicity of the seasons, and an agricultural economy’s and society’s strong ties to that cyclicity. Since much of the world is closer to their agricultural roots, they are still much more amenable to cyclicity than progress in history. This brings on with it, some disadvantages too.

Though social differences tend to be ironed out, status differences are created by technological advancements in Indian and other developing countries. In India, employees in foreign collaborations are paid more than employees working in local collaborations, though they do the same job in the same field. Moreover, modernization pressurizes for more and more Genetically Modified Products over natural products and this several adverse affects like misbalancing the natural pathways. It also leads to consolidation of market towards the companies providing GM products.

D. Social Systems:

Of particular interest is the knowledge of technology. At this level, technology creates a distinct type of social system, namely, the knowledge society. In the knowledge society, use and transfer of knowledge and information, rather than manual skill, dominates work and employs the largest portion of labour force. The knowledge worker will have to show why he should be retained, what benefit he can offer to the organisation and how he can add value to whatever the organisation does. He will have to create new jobs in consultation with his employer. When this happens, the worker can forget pension plans.

TECHNOLOGY AND INDIAN INDUSTRY

Technology has contributed to the growth of industries or to the process of industrialization. The industry is characterized by heavy, fixed capital investment in plant and building by the application of science to industrial techniques and by mainly large-scale standardized production. The Industrial Revolution of 18th century led to the unprecedented growth of industries. Industrialization is associated with the factory system of production. The factories have brought down the prices of commodities, improved their quality and maximized their output. The whole process of production is mechanized. The process of industrialization has affected the nature, character and the growth of economy. It has contributed to the growth of cities or to the process of urbanization.

Development of transport and communication has led to the national and international trade on a large scale. The road transport, the train service, the ships and air transport have eased the movement of men and material goods. Post and telegraph, radio and television, newspaper and magazines, wireless has developed a great deal. They have helped the people belonging to different corners of the nation or the world to have regular contacts. The introduction of the factory system of production has turned the agricultural economy into industrial economy. The industrial or the capitalist economy has divided the social organization into two predominant classes- the capitalist class and the working class. These two classes are always at conflict due to mutually opposite interests.

A. Productivity and Competition:

Most of the organisations today fiercely contest with each other to woo customers. Although, the customer is in a win-win situation and gets many options to choose from, organisations for their part have to be on their toes with all preparedness to counter any marketing or publicity campaigns by the rivals to score over the consumers. If a rival is able to come up with an innovative product or service, other organisations then need to play the catch-up game and this factor affects business immensely.

It is the driving factor behind the technological advancements. In technology the competition is remorseless. In most businesses the competition might be able to do something as well as you – and it will remove your excess profit. People will build hotels for instance until everyone’s returns are inadequate but not until everyone’s returns are sharply negative. Even in a glutted market a hotel tends to have a reason to exist – it still provides useful service. For example, data suggests that during the years since 1991-92, when the Indian software services industry and, to an extent, the hardware industry was still in its infancy, there has been one striking structural feature characterizing the sector.

Over this 17-year period when industry revenues have grown by more than 150 times or at a compound rate of 34 per cent per annum, a few firms have routinely dominated the industry. Thus the share of the top 20 firms in the industry throughout the period has fluctuated between 47 and 57 per cent, standing at 55 per cent in 1999-2000 and at 56 per cent in 2006-07. That is concentration as conventionally measured has been high and relatively stable. What is more there is evidence that at the core of the industry concentration is in fact increasing. According to the results of Dataquest’s most recent survey, the share of the Top 20 firms in the revenues of the Top 200, which has been increasing consistently over the last few years, rose sharply from 54 per cent in 2005-06 to 64 per cent in 2006-07, as compared to a rise from 50 to 54 per cent between 2004-05 and 2006-07 (Dataquest, July 15, 2007).

Acquisitions such as that of i-Flex by Oracle and a sudden, sharp 136 per cent increase in the revenues of Tech Mahindra partly explain this trend. But the fact of a high degree of concentration cannot be denied. With the increasing technology requirements of Indian businesses and government along with increased consumerization, the Indian technology industry is expected to grow to Rs.1.8 trillion by 2016, a growth of 12% over 2012. Opportunities’, the contribution of the Internet economy to the country’s gross domestic product (GDP) is expected to increase from 4.1% in 2010 to 5.6% in 2016, to touch Rs.11 trillion, driven largely by the country’s demographic dividend. Also, the number of billion-dollar Indian companies will increase from 141 in fiscal year 2010 to more than 700 by 2020, and these firms will require extensive use of technology to remain competitive. This thus, is leading to increased productivity in terms of quality and quantity by the major Indian industries.

A number of transient factors can affect both true and “measured” productivity. For example, workers may work harder during periods of high demand and firms may use their capital assets more intensively by running factories for extra shifts; both factors can lead measured productivity to be too high relative to actual technological progress. Similarly, during periods of high demand, productivity can rise because firms take advantage of increasing returns to scale. Technology has brought about increased productivity in almost all sectors of Indian Economy like Infrastructure, Agriculture, Communication and Information Technology through new techniques and methods. Some of the productivity improving technologies are:

1. Replacing human and animal power with water and wind power, steam, electricity and internal combustion and greatly increasing the use of energy 2. Energy efficiency in the conversion of energy to useful work 3. Infrastructures: canals, railroads, highways and pipelines 4. Mechanization, both production machinery and agricultural machines 5. Work practices and processes: The American system of manufacturing, Taylorism or scientific management, mass production, assembly line, modern business enterprise 6. Materials handling: bulk materials, palletization and containerization 7. Scientific agriculture: fertilizers and the green revolution, livestock and poultry management 8. New materials, new process for their production and dematerialization. 9. Communications: Telegraph, telephone, radio, satellites, fibre optic network and the Internet 10. Home economics: Public water supply, household gas, appliances 11. Automation and process control

12. Computers and software, data processing.

B. Need to spend on Research and Development:

Research and Development assumes considerable relevance in organisations as technology advances. Firms are required to consider, decide and take action on various issues. In the modern world, superior technologies, resources, geography, and history give rise to robust economies; and in a well-functioning, robust economy, economic excess naturally flows into greater use of technology. Moreover, because technology is such an inseparable part of human society, especially in its economic aspects, funding sources for (new) technological endeavours are virtually illimitable. However, while in the beginning, technological investment involved little more than the time, efforts, and skills of one or a few men, today, such investment may involve the collective labour and skills of many millions.

Technology transfer is a complex, time-consuming and costly process, and the successful implementation of such a process demands continuous communication and co-operation between the parties involved. Furthermore, technology transfer cannot be effective if it experiences conflict with the economic and social needs of the people. In spite of the many differences in social, political, cultural, geographic and economic conditions, there are some common characteristics in the technological environments of developing countries. The most common technology transfer from industrialised to developing countries has been in agriculture and health care.

As a result of improved health care systems, infant mortality rates have been cut while the incidence of once common diseases such as malaria and typhoid has been reduced in Latin America, south-east Asia and Africa (although the incidents of the AIDS virus has increased alarmingly). Similarly, agricultural technology has increased agricultural productivity in Brazil, India and elsewhere.

However, in most developing countries, technology has made little impact on the productive systems, income distribution and living conditions of the majority of the population. Moreover, as new technology comes in, the old one needs to be abandoned. The process of old replaced by new is called Technological Discontinuity. Such discontinuity occurs when a new technology cannot be used simply to enhance the current technology but actually substitutes for it to yield better performance. The R n D management must determine when to abandon present technology and when to develop or adopt new one.

C. Increasing Intellectuality of jobs:

With the advent of technology, jobs tend to become more intellectual or upgraded. A job hitherto handled by an illiterate and unskilled worker now requires the services of an educated and component worker. Introduction of new technology dislocates some workers. This makes it obligatory on the part of business houses to retrain its employees and to rehabilitate those displaced and non-trainable.

Equal is the responsibly of the government to provide training and educational facilities to its citizens-those who pick up and acquaint themselves with the new technology, the job will be rewarding as they stand to gain through increased productivity, reduced prices and increased real wages. Along with upgrading jobs, technology has its impact on human relations. Since interaction and activity affect sentiments and they begin to feel and think about one another and about their situation. Not only jobs become more intellectual and knowledge-oriented, even the incumbents tended to become highly professional and knowledgeable.

D. Unemployment:

The problem of unemployment is a concomitant feature of the rapid technological advancement. Machines not only provide employment opportunities for men but they also take away the jobs of men through labour- saving devices. This results in technological unemployment. Labour displacing technologies can generally be classified under mechanization, automation, and process improvement. The first two fundamentally involve transferring tasks from humans to machines.

The third fundamentally involves the elimination of tasks altogether. Unemployment due to an increment in productivity generates an expectancy that no new jobs, or not enough new jobs, will arise to fill the void. Variants of this argument persist through the present day, as do counter-arguments to it. Average working hours have decreased significantly since the advent of modern efficiency producing technologies and continue to fall as less and less labour is needed to meet demand.

Article 1:
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3/30/13 The Great Indian Technolution
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Publication: The Times Of India Delhi;Date: Jan 23, 2010;Section: Soaring At 60;Page: 18 ————————————————-

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The Great Indian Technolution
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From launching its first satellite to becoming self sufficient in food grain production to entering the nuclear power club, the last 60 years have seen India transform from a poor, struggling country into a modern scientific power that defied global pressure to carve out a place for itself in the field of science and technology ————————————————-

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Subodh Varma
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When India became independent, the political leadership — like the people at large — had magnificent dreams. They wanted to build a prosperous, modern India casting aside centuries of stagnation, poverty and backwardness. And one of the important facets of this vision was the harnessing of science and technology to deal with the huge economic and social challenges facing the country. In the early years the foundation for a gigantic, state-funded scientific establishment was laid. Scientific research in the non-strategic sphere was entrusted to the Council of Scientific and Industrial Research (CSIR) with its 37 laboratories and over 12,000 scientists. Similarly, the Indian Council for Agricultural Research took on the task of addressing problems of increasing agricultural output through its 97 institutes and 45 agricultural universities. ————————————————-

India was a poor country, ravaged and plundered by colonialism. Yet, precious resources were set aside for all this because there was a vision that science should be put to direct use of society. These investments made 60 years ago have since borne fruit. Unlike any other post-colonial country (barring China) India can boast of one of the world’s largest scientific establishments with personnel to match it. How have these capabilities been put to use? How has the science and technology establishment tackled the challenges? The answers to these questions are not easy because it’s a mixed bag — there are some well-known crowning achievements, but there is also a growing sense of unease about some issues where problems are mounting. ————————————————-

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Five areas can immediately be identified where Indian scientists have made significant strides. Their significance is not that they are fantastic discoveries that changed the world. They are remarkable because they were achieved against all odds, often in international isolation, and working with limited resources. Progress in all these areas has had a cascading effect on other sciences, and on the life of the nation. ————————————————-

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AGRICULTURE: 60 years ago, India was referred to as a country leading a ship to mouth existence — foreign food grain came by ships to feed millions. By 1966, food imports had reached 10 million tonnes. But by 1968, food grain production shot up by 8 million tonnes and by 1974 India became self-sufficient. Indian agricultural scientists first hybridized Japanese rice varieties with Indian varieties. Then, wheat, maize and various millet varieties were developed. “This is the power of synergy between technology and public policy,” explains M S Swaminathan, considered the father of this Green Revolution. Striking progress has also been achieved in the ————————————————-

improvement of productivity of farm animals and fish. Today, we occupy the first position in the world in milk production. Horticulture, which was a pleasantry before independence, has emerged as a core sector in agriculture, says H.P Singh deputy director general for horticulture in the Indian Council for Agricultural Research. Research has resulted in conservation of 72,000 accessions and development of 1,500 high yielding cultivars, resulting in India emerging as the second largest producer of fruits and vegetables in the world. ————————————————-

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“More than 50% increase in production was recorded between 1991-92 and 1998-99,” Singh told TOI. ————————————————-
Progress has continued steadily, but during the last 15 years there has been relative stagnation in the improvement of both crop production and productivity due to ecological and economic reasons, says Swaminathan. Conversion of scientific know-how into field level ‘do-how’ and a mismatch between public policy and the needs of technological diffusion are two major problems, he says. “Agricultural policy-making is largely in the hands of general administrators, many of whom have little knowledge of farming and farmers. This is a self-inflicted injury which is hampering progress,” he rues. ————————————————-


By the time he died in a plane crash on Mont Blanc in Europe in 1966, India already had research reactors and uranium was being mined and prepared for use as fuel. Other peaceful uses like use of isotopes for radiation had also been developed. India tested its first nuclear device in 1974, inviting a complete halt in cooperation from the world’s nuclear powers. The long process of developing a three-stage process for using thorium fuel, of which India has the world’s largest reserves, was initiated under these conditions and continues today. In fact, today, India has 17 atomic power stations while six more are under construction, and is acknowledged as a nuclear power in the world. ————————————————-

The one factor that contributed to this success story is the emphasis Dr Bhabha placed on human resource, says top nuclear scientist V S Ramamurthy, director, National Institute of Advanced Studies and former secretary of the department of science and technology. “In the coming decades, human resource is going to be the biggest challenge in this sector, not only for India but for the entire world, he told TOI. ————————————————-


It has the capability of launching upto 10 satellites simultaneously and is well on its way to developing vehicles that can be reused after launch. Only recently, Chandrayaan 1 made history by reaching and observing the Moon. According to K Kasturirangan, former head of Isro and a member of the Planning Commission, India’s space programme is unique “for its direct relevance to national development and, at the same time, being cost-effective”. Most of the technology is indigenous, developed in the face of denial regimes, inadequate industrial infrastructure and complex engineering issues. “Our own engineers took this as a challenge and developed many unique solutions through interesting innovations and creativity”, Kasturirangan told TOI. ————————————————-

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GENOMICS: India has made spectacular progress in the field of sequencing genetic codes and ————————————————-
its applications for disease control. Technological advances in the West made it possible to start full sequencing around the mid- 1980’s. After initial hesitation, India joined the race to develop capabilities to do complete gene sequencing, largely due to the efforts of S K Brahmachari, who currently heads CSIR. He had worked with Charles Cantor the pioneering geneticist in the early days as a student, and persuaded the Indian government to start work here. ————————————————-

“India has distinct advantages for this work — a large population with considerable variation in genetic composition, a fast developing IT capability and a large scientific infrastructure,” he told TOI. After setting up the Institute of Genomics and Integrative Biology in 1998, Brahmachari led the scientists to pioneering studies on variations in Indian genetic composition. Recently the full genome of an Indian has been mapped, putting India in an exclusive club of eight nations in the world. ————————————————-

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INFORMATION TECHNOLOGY:
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This is the most recent and perhaps the most well-known of success stories, with super-computing abilities, a huge pool of trained IT manpower and top scientists in the world’s most advanced IT companies. India has emerged as a hub for software services with the industry exporting over $5.7 billion in 2008 and expected to double by 2013. This achievement is different from others in the sense that it has largely been under private sector and largely export-oriented. ————————————————-

One of the biggest changes in global science that India missed out on is materials science and technology, according to C N R Rao, chairman of the scientific advisory committee to the prime minister. “India did not contribute anything to the semi-conductor revolution and in fact, we hardly have laboratories working on microelectronics.

We have very few foundries to make chips. India still depends on chips made elsewhere,” he candidly explained to TOI. Although now some attention is being paid to nanotechnology, India needs to invest much more in material sciences, he says. There are various other fields of science in which progress has been steady if not dramatic. A K Sahni, professor emeritus in geology at Panjab University borrows a metaphor from the science itself, to explain this: “The achievements are more like a rising mountain chain with only a few discernible peaks”. There have been sharp insights into earth processes, changes in water systems, the dynamics of earthquakes and tsunamis with a early warning system in place, polar studies and alternative energy resources such as coal bed methane and gas hydrates, he says. ————————————————-

The science of weather prediction holds great importance for India as more than half the country’s farming is dependent on the monsoon. While there has been rapid progress worldwide due to explosive growth in computing power, development of new observational platforms (satellites, radars, wind profilers, automatic weather stations, ocean buoys and many more), and enhanced understanding of underlying physical processes, progress in India has been slow according to A K Bohra, Head, National Centre for Medium Range Weather Forecasting (NCMRWF). “Till recently, the traditional method of forecasting weather, known as synoptic method was used while the world has moved on to Numerical Weather Prediction (NWP) which uses very complex numerical models,” he told TOI. Bohra rues the “lack of adequate computing power and skilled manpower in the country” but is enthusiastic of a recently launched modernization drive.

In the health sector, control of diseases and doubling of life expectancy are major achievements, according to V M Katoch, director general, Indian Council of Medical Research. “Several leads for designing the present regimens for tuberculosis, leprosy and other diseases came from India,” he told TOI. However, little of this output from medical research has been translated into products/process. This has been due to lack of synergy among different science departments and regulatory agencies, he said. “The real challenge will be development of health system so that the technology reaches people,” he said. A common problem across virtually all science disciplines is of dwindling human resources. From geology and climatology to nanotechnology and biotechnology, the enrollment of students at graduate and post-graduate levels is stagnating, or even falling.

In research output, India produces less than 2% of the world’s scientific papers and has a low citation ranking. Investment in R&D has been languishing at about 1% of GDP for several years after rising from 0.16% in 1958. Prof Ramamurthy points to two chief weaknesses — the translation of scientific knowledge base into technologies and marketable products and services, and the weak ecosystem for entrepreneurship and venture financing. But he is optimistic. ‘The Indian system is indeed waking up to these realities. The increasing investments in higher education, the increasing participation of industries in R&D point to this welcome development. If India can do it in sectors like space, atomic energy in spite of international embargos, it can do it in every other sector,” he says.

Article 2:

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3/30/13 When Business Thinking is married to Technical Ideas
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Publication: The Times Of India Delhi; Date: Jan 24, 2007;Section: Times Ascent; Page: 52 ————————————————-

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When Business Thinking is married to Technical Ideas
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The Indian IT industry is currently witnessing a silent, but very compelling transformation, wherein technology is being viewed as a means to attain business ends, and not an end in itself. Jhinuk Chowdhury takes notes… ————————————————-

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If as developer a product to is he needs being is to developed be clear it in , whom the his mind for why developing , and how it would help the end customer. More than anything else, the focus needs to be on the usability of technology. This calls for a change in terms of the quality of IT manpower. The industry now requires quality brains that can make possible quality deliverance of high-end technical assignments on time and in line with customer requirements. So the pie is gigantic, but grabbing it would remain a dream until the manpower arms itself with adequate skills. ————————————————-

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OPERATIONAL DEPTH BECOMES CRITICAL
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Indian IT is now being associated with the entire business process, right from developing to the final delivery of a product. For instance, SAP Labs considers Bangalore one of its most important development hubs, since around 10 percent of its patents come from India. Believes Shailesh Shah, Director & Senior VP, Corporate Strategy Group, Satyam Computer Services, “There is greater focus on IT consulting, project management, engineering design and product development leading to substantial revenue streams.” ————————————————-

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NOSE FOR BUSINESS IN TECHNOLOGY
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So more than just cost effectiveness or technological knowledge, the traits that will set the Indian talent pool apart from other contenders is the ability to understand how the technology they are working on enables business and to think from an entrepreneurial point of view. This means that one needs to be a business technologist to rise in this industry. As Arvind Mishra, Executive VP & Global Head, Talent & Change, Polaris Software Lab Ltd., says, “As the IT industry matures and tries to provide high margin, complex solutions, there is a shift from being purely technical to becoming techno-functional. The software professional today is required to gather domain knowledge. Unlike in the past, when one was called a Java or ‘C’ specialist, the focus today is on whether a person is into banking or healthcare or manufacturing.” ————————————————-

Innovation would be required both in IT services and product development and R&D. Indian IT is already a known name in the ITES space. And in the product development and the R&D space, India has become a hub where the top 10 product companies in the world have set up development centres. Srinivas Raghavan, VP-MD, Bally Technologies feels quality is becoming the core of Indian services, especially in the area of solution implementation. He says, “The Indian engineer is very good and getting better at implementing solutions on-site wherever the location might be in the world. In future, the number of Indians working at customer locations around the world and implementing solutions for them will only increase.” He feels, nevertheless, that the country should continue to retain its cost advantages. ————————————————-

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EXISTING BOTTLENECKS
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According to industry estimates, out of a requirement of 2.3 million people, India will fall short by 50,000 relevant IT professionals by 2010. What is to be noted here, is that the fall is not in terms of numbers but in terms of relevance. Only 25 percent of the total technical graduates and 10-15 percent of general graduates are industry relevant. Added to this, there is no proper grooming of talents at the school/university level. ————————————————-

Added to this, there is no proper grooming of talents at the school/university level. ————————————————-
So what is the way out? Many feel grooming should start at the primary level since logical thinking starts at the primary school level. The need is to address primary education and not build a poor-quality manpower base at the primary level. The industry feels that Indian engineering students, even after four years of studies, are not readily deployable. What’s needed is a close collaboration between the industry, Government and academia to build up a proficient pool that can sustain the growth.

Conclusion:

Thus, what we analyse from the above discussion is that Technological environment has both its concerned advantages and disadvantages on the Indian economy and the global economy as a whole. Technology has altered our modes of life. Modern technology has made the states to perform such functions as education, protection of minorities and other under privileged class and healthcare etc. Transportation and communication inventions are leading to a shift of functions from local government to the central government of the whole state. The modern inventions have also strengthened nationalism. The dangerous effect of technology is evident through the modern mode of warfare. The weaponry has brought fears and anxieties to the mankind. They can easily destroy the entire human race reveal how technology

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