Innovation, Technology and Business Environment
Dr. Suhasini Parashar
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Abstract
The main concern in the economy is progress through innovation and technological advancement to
increase the growth rate quantitatively and development qualitatively which improve the business
environment with technological environment. Different types of innovation encourage producing cost
effective product. The impact of innovation on business environment proceeds towards diversification of
goods, and technological advancement increases the productivity through capital intensive techniques.
The use of innovative technique is a way to grow in the market even in the recession. The value adding
innovation is the main driver of growth and development in every sphere of life with various innovative
techniques and tools. The innovation and technology have a significant influence on functioning and
growth of individual enterprises. Industrialization process by which adoption of technologically superior
techniques of production, application of modern techniques for management and organization like
economic calculations, accountancy and management techniques. The business objectives- quality of
products and services, challenges, joy of creation, service to society, market leadership, employee
satisfaction and development, growth and profit achieve through progressive innovation and advanced
technology. In this article, the focus is on the impact of innovation and technology on business
environment.
Keywords: Environment; Industrialization; Innovation; Productivity; Technology
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