Fundamentals of Business

Scientific research and science

"Scientific research and science science based technological innovation is an indispensable
prerequisite of modern life and civilization. There is no alternative.
For six or eight billion people there is no way back to a less sophisticated life style".

[Mohr, Hans: "Technology Assessment in Theory and Practice", Techne: Journal of the Society for Philosophy and Technology, Vol. 4, No. 4 (Summer, 1999)].

TA considers its task as interdisciplinary approach to solving already existing problems and preventing potential damage caused by the uncritical application and the commercialization of new technologies. Therefore any results of technology assessment studies must be published, and particular consideration must be given to communication with political decision makers.

Some of the major fields of TA are:

– information technology
– nuclear technology
– molecular nanotechnology
– pharmacology
– organ transplants
– gene technology
– health technology assessment (HTA)

Economy

Because the high tech sector of the economy develops or uses the most advanced technology known, it is often seen as having the most potential for future growth. This perception has led to high investment in high tech sectors of the economy. High-tech startup enterprises receive a large portion of venture capital. However, if, as has happened in the past, investment exceeds actual potential, then investors can lose all or most of their investment. High tech is often viewed as high risk, but offering the opportunity for high profits.