Technology Advancements

Abstract (Wikimedia Foundation, 2008) Over two and a half million years ago primitive humanoids began using stones and rocks to butcher dead animals, to date, this was the first known use of technology on earth. Since that time, both we human beings and our technology have evolved. Over the course of history, technology has evolved from stone flakes to a world of space travel and super-computers. The increased availability to information could lead to the development to several necessary and desired advancements in technology over the next ten years that could affect El Arco and the world as well.

My business partners and I have decided to invest a large percentage of our working capital in technology. We have hired someone to research the possible technological advances for the future so that we can decide which companies we want to invest our money in. Technology Advancements in the Future and El Arco Introduction Good afternoon everyone. As you all know, the significant increase in availability to information will cause several great technological advances over the course of the next 10 years. Rand, 2006) Technological advancements impact water, food, land, population, governance, social structure, energy, health, economic development, education, defense and conflict, and environment and pollution. We will be examining several promising advancements and how they could effect your business. Information and communications technology is one of the major areas where many great advancements are expected to be made. (Rand, 2006) Advancements in Radio Frequency Identification Tagging and Biometrics could greatly impact commerce.

Though these technologies are already in use, it is believed that there will be more widespread use of these product in the future. Once the production becomes less expensive, the technology can be used in mass to track inventory and possibly even consumers, or even how currency is exchanged. Another major probable advancement worldwide wireless Internet. Being that El Arco is on the Internet this advancement would be very favorable for the company by expanding access to more potential customers.

Additionally, cameras are anticipated to become smaller and to have much better quality. Advancements in this area would prove beneficial to the company because it would help improve security. Technological advancements in the areas of energy and transportation will be some of most important to the world and to your business. (Rand, 2006) It is thought that within the next ten years or so, there will be significant advancements within this area. It is believed that cost effective solar technology could decrease energy costs worldwide. Rand, 2006) Advancements in the areas of transportation could include things like hydrogen powered vehicles, hybrid engines, and other “ultra fuel efficient vehicles”. These fuel efficient vehicles could lower transportation costs for your store. There are a few possible advancements in technology that may directly effect your bookstore. (Rand, 2008) One hopeful technology would be print to order books. This means that books would be printed only by request. Depending how it would be implemented, the effect on your business could be either positive or negative.

If customers order the books themselves online directly from the publisher and cut out the middleman that could effect your business negatively. However, it can feasibly be done with out upsetting the current order. (Rand, 2008) Advancements in medical technology could improve life for all people on earth. Some of the possible advancements in medical technology include improvements in medical diagnostics and improved surgical methods. Additionally, advancements in medical information technology would give doctors better access and improve patient care.

In addition, increased technology could assist with monitoring and managing diseases. Medical advancements could decrease costs to your business by way of decreased insurance premiums for you and your employees. (Rand, 2008) Society at large can benefit a great deal from many of the upcoming technological advances. Some of the feasible technological advancements may have significant public policy issues. Issues like genetic screening and genetically modified crops and animals continue to be some of the most controversial.

On the other hand, technology advancements in areas of environmentally friendly are considered favorably by the public. The development of secure data transfers and electronic transactions could change the way companies including your do business. Technological advances over the next ten years are projected to grow at an astronomic rate. As business owners you must consider carefully all of the affects the different forms of technological advances will affect your business. Conclusion Through out the course of history technology goes through spurts of development. Wikimedia Foundation, Inc. , 2008) The stone age, bronze age, and iron age were the major eras of early technology. Many ancient civilizations such as the Egyptians, Greeks, Romans, Mayas, Incas and Persians all had enlightened periods from which a lot of the technology and information that we have today derives. During the industrial revolution advancements in travel and energy technology paved the way for the great many technological advancements we have had during the last few centuries.

Today, our technology has become to readily available that the advancements are becoming more commonplace than ever before. These advancements will affect individuals, businesses, and even governments over the course of the next 10 years. References Rand Corporation (2008). The Global Technology Revolution 2020, In-Depth Analyses, Santa Monica, CA. : Author Wikimedia Foundation. (September 2008). History of technology Wikipedia, the free encyclopedia. Retrieved September 28, 2008, from http://en. wikipedia. org/wiki/History_of_technology#Early_technology