Technology as wealth creator

Technology generates wealth when it is commercialized or used to achieve a desired strategic or operational objective for an organization. When we say technology can be used as a wealth creator, it means more than just money. It encompasses factors such as enhancement of knowledge, intellectual property, effective exploitation of resources, preservation of the natural environment, and other factors that may contribute to raising the standard of living and quality of living. The technologies that exist in a business are the technological assets of that business. These assets may therefore include hardware, software, brainware and know-how. They constitute the collective knowledge and technical capabilities of the organization including its people, equipment and systems.