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Unformatted text preview: AEM1200, Introduction to Business Management Wednesday 10/22 Technology and Innovation Technology and Economic Growth Types of Innovation The Innovation Process Y = f (K, L, innovation) Technology The application of scientific and engineering knowledge to achieve a practical result. Research An orderly approach to the revelation of new knowledge about the Universe. Development The application, expansion and interconnection of scientific and engineering knowledge to generate technology. Areas of Rapid Technological Development Information and Communication Technology Internet Software Cellular telephony Biological sciences Biotechnology Genomics Agriculture Genetically modified organisms Nanotechnology Energy / Sustainability / Recycling and reuse / total product life cycle Technology Cycle A cycle that begins with the birth of a new technology and ends when that technology reaches...
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- Fall '06