Tech is an umbrella term for numerous technology-based fields. Among them, computer technology, which includes the field of information systems, networking, software, and software engineering, is perhaps the most famous. Technology is the entire sum of any systems, techniques, tools, methods, or even creative approaches used in the creation of new products or services or in their realization, including scientific research. It is very much applicable to the field of information science, including computer science, although it is less inclusive than the former. Thus, technology is a subset of various disciplines in science, which, collectively, create much of what we experience in our day-to-day lives.
However, in most cases, the term technology sector does not refer to a single industry. Instead, it usually refers to a group of industries, including the technology sectors of information science and engineering, computer science, and the web-tech, respectively. In many countries, the definition of the term technology sector may overlap those of the industrial sectors. Thus, the term may be used interchangeably with economy. This article will briefly examine some of the most common theoretical constructs related to technology.
One possible construct is that of technological change. The history of tech can be seen as a history of rapid change, especially when it comes to communication and transportation technology. For instance, between the age of steam and railroad trains, the world literally became a much larger place. Similarly, tech changes such as those described by Moore’s law (the recent phenomenon of increasing the rate of CPU clock speeds without additional hardware) may also be considered technological change.
Another possible construction of the term tech is that of value extraction. The process of extracting value from technological systems requires the development of new technology. Examples include the pharmaceutical and electrical industries, whose product lines are constantly being refined and enhanced. In addition, tech companies are engaged in acquiring knowledge and information about how to extend their current product lines, or learn to produce new products that may already be in use. While this is a useful field in any industry, it is particularly relevant to the tech industry because the process of value extraction includes intellectual property, which is a non-traditional access key to the product.
A further construction of the term tech is that of business-to-business technology transfer. The basic definition is “the sharing of technology between two or more businesses.” In business-to-business tech transfer, one business gives another technology a try, but then keeps the new technology exclusively for its own use. Thus, for example, a computer company may allow another computer manufacturer to use the source code of one of its new products in order to improve upon it, so long as the first company doesn’t make that same patent available to competitors.
A final possible field definition of tech is that of knowledge creation. The history of tech can be viewed as the history of knowledge itself, as people inventing new ways to express ideas, expand upon existing ones, and further innovate the technologies they already possess. As a result, the scope of this field is nearly limitless, since any conceivable combination of technology is always possible. As a result, any number of businesses can fall into the realm of tech culture, even when they’re not selling products and services directly to end users. As such, there is room for tech companies of almost any size, although the smaller companies often operate independently and are therefore less well known.