10.12.10

How technological innovation affects competition?

In this new era of modernized world, a new birth of globalization has been developed due to many very innovative individuals who seek more beyond than anyone. Technology, in the sense of knowledge which has been used to provide suitable solutions on the human problems enabling for a better advancement in life and better society for globalization. Although technology advancement in the previous years has undergone lengthy span of time yet at the present this technology has been constantly evolving with much higher intensity and speed cooping up with the innovative world and individuals. Society has been also at constant sought of new innovations to cope up with which proceeds hand in hand with the enlargement of markets and the intensification of rate exchange on international trades.
Due to this highly regard of advancement technological innovations has given a new way of competition towards the various groups of innovative individuals who seek constantly for advancement regardless of any obstacles. Many have been on constant search for a better technology causing a mutual rivalry between well known technological companies in the world. With this technological advancement, the leading country like Japan, Korea, Germany, the Europe continent and including some other western countries has been in constant battle for being the most technologically advance world of innovations.
This has also affected the world society giving a new way of racial discrimination. Where in it’s a fact that the less advance nation specially those having low GDP has a less edge for surviving and has not been given much attention in the world. Thus those powerful countries have continued to soar high for advancement. Here nations where classified according to their technological advancement and their GDP. Our country ,the Philippines has been on the third world country where there is a less advancement of technology in compare to the advance world.