The inputs of authors, editors and artists ( knowledge) and the use of equipment like computers and printing presses (technology) transformed paper, ink and glue (raw materials) into this book (the finished product) In the case of a service company such as an airline, the technology consists of equipment, including aeroplanes, repair tools and computers, as well as the knowledge if mechanics, ticket clerks and flight crews. The output is the service of transporting people from one place to another.
Changes in technology can help companies provide better products or produce their products more efficiently. For example, sdvances in surgical technology and imaging equipment have made open-heart surgery much faster and safer in recent years. While technology changes can benefit a business, they can also threaten it. Companies must embrace new technology and find effective ways to use it to improve their products and services or decrease costs. If they don't, they will lose out to those companies that do.