Essay on Technological change

Submitted By nonojoseph
Words: 594
Pages: 3
Open Document
Technological Change

Technological change is perhaps the most important factor in changing competitive structure of markets and industries. It is fair to say that the pace of technological innovation is increasing. Technological change can be defined as the change in the combination of skills, knowledge, tools, equipment, machines and computers used to undertake tasks, which are essentially implemented to improve products or processes, gain competitiveness, maximise sales, market share and profits.

Jaguar Land Rover

In March 2008, after heavy losses under Ford ownership of approximately $600 million per year, Ford sold JLR to Tata Motors for just over £1 billion just a few months before a collapse in global demand in the int car market. Tata financed the takeover with $3 billion of long term loans. Tata had to refinance to keep JLR solvent after the 2008 financial crisis. In 2011, Tata announced a £5 billion five year investment programme in JLR - focused on new product development & new equipment at JLR three plants. In November 2011, JLR announced 1000 new jobs in Solihull by rising demand for 4x4s in Brazil, China, India, Russia. Soaring sales of Jaguar and Land Rover cars have helped Tata motors to a huge rise in profits (up 41% on 2010). JLR saw sales rise 37%, helped by selling 32 000 of its new Range Rover Evoque. China now overtakes the UK as JLRs biggest market, but are still based in the UK and use their British heritage as a unique selling point.

Technological Change at JLR

In early September 2014, there was an announcement by the company to further expand the solihull plant. This reflects the growth of the company in recent years. One of the things underpinning this success in JLRs ability to utilise new technology. The Range Rover Evoque design is a good example of this:

Computer Aided Design (CAD)
Much of the design work for the Evoque was done using the 3D technology on a computer through the systems ‘computer aided design’ and ‘computer aided manufacture’ rather than producing a prototype and testing this.
The use of CAD allows JLR to create more radical, experimental designs and test their performance which improves their likelihood of appealing to more potential customers.
Being able to obtain a 3D visualisation enables the designers to alter the virtual car again without having to build a prototype.

Nanomaterials and Biotechnology
Similar to carbon nanotubes
Show More

Related Documents: Essay on Technological change

Essay about Technological Change

Technological Change Technological change is how its company turns the inputs to the output of services and goods. It uses machines, natural resources and employees to produce those goods and services. The technology is dependent upon the skill of the trained workers, managers and the equipment's efficiency. Changes can occur with Technological change when a worker who is not fully trained is hired to do the job, which than can potentially cause failure in the output of a product. Productivity…

Words 449 - Pages 2

Technological Changes In Information Management

Introduction to throughout the years humans have been exposed to many technological changes that facilitate communication in the same way improving the quality of life for the ease that these new technological machines and also provide help to meet the needs that have over time appeared infinities of products make our lives easier and allow us to streamline our day to day. The PC has had a rapid rise dramatically growing, as it has the power of automated information management. The main reason…

Words 1468 - Pages 6

Describe The Social Environmental And Cultural Implications Of Technological Change In Engineering

practice P3.3 applies graphics as a communication tool P4.1 describes developments in technology and their impact on engineering products P4.2 describes the influence of technological change on engineering and its effect on people P4.3 identifies the social, environmental and cultural implications of technological change in engineering. Areas of engineering practice • nature and range of the work of engineers…

Words 548 - Pages 3

Test: Technology and Different Technological Systems Essay

Individual inventiveness is essential to technological innovation. Nonetheless, social and economic forces strongly influence what technologies will be undertaken, paid attention to, invested in, and used. Such decisions occur directly as a matter of government policy and indirectly as a consequence of the circumstances and values of a society at any particular time. In the United States, decisions about which technological options will prevail are influenced by many factors, such as consumer acceptance…

Words 974 - Pages 4

Essay on Is Technology Deterministic

or at least to represent the ability to change society, for worse or better.[1] It is highly believed that particularly during the opening stages of the implementation of a specific technology some social change would take place on the basis of the implicit values, vices or virtues held by that technology. According to Merritt and Marx (1994), technological determinism is simply the view that new techniques set the circumstances for social and cultural change. Further, taking the above discussion into…

Words 2476 - Pages 10

The Benefits Of Technological Technology And Technology

------------------------------------------------- Top of Form Technological knowledge refers to societies understanding of how the world works in terms of producing goods and services. Businesses only prevail with the use of technology, if they know how it functions in the economy. Although rapid population growth has been known to depress economic prosperity by reducing the amount of capital each worker has, it also has its advantages with its contribution to technology, in the business environment…

Words 1370 - Pages 6

Economics and Income Inequality Essay

globalization. The article talks about how many workers in Canada are in fear that globalization is a threat to their incomes and jobs. The latest to recognize this fear is the International Monetary Fund. The IMF believes that globalization and technological change have increased the size of the economic pie. This means that without globalization, our economy would not be as big as it is. To prove this, the article states that globalization has created cheap imports, which makes consumers better off.…

Words 369 - Pages 2

Role Of Capital In Economic Growth

capital per worker, technological progress, human capital, and governmental institutions as key factors. Here are the main points of the chapter: • Per capita, GDP varies greatly throughout the world. There is debate about whether poorer countries in the world are converging in per capita incomes to richer countries. • Economies grow through two basic mechanisms: capital deepening and technological progress. Capital deepening is an increase in capital per worker. Technological progress is an increase…

Words 6309 - Pages 26

Transformational Leadership Style Analysis

In its ideal form, it generates a valuable and positive change in the followers with the end goal of developing followers into leaders. According to Bass (1985), transformational leaders try to attain this goal in different ways like more appreciation, understanding emotional need or by motivating them with personal…

Words 521 - Pages 3

Technology and Rapid Technological Advances Essay

“The Robot Economy: As rapid technological advances create more powerful robots, which jobs will be left behind?” Analysis After carefully reading “The Robot Economy: As rapid technological advances create more powerful robots, which jobs will be left behind?” by David Von Drehile compose a typed summary and analysis addressing the following: Compose a thorough summary of David Von Drehile’s article, “The Robot Economy: As rapid technological advances create more powerful robots, which jobs will…

Words 1167 - Pages 5