The advantages and disadvantages of technology transfer

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There are a lot of advancements happening throughout the world, and in many countries that are developed technology progresses at a faster rate, in comparison to developing countries. Where we find ourselves always leaning towards them in terms implementing technologies they have pioneered in order to improve our economies.
There are some advantages to this, which are listed as follows;

Competitive Advantage
The world is viewed globally, and with that said it’s important to have a competitive edge and the technology transfer has become very much important to commercial business, this becomes a driver in our economy.

Research Development
Technology transfer sustains the research of a particular product, which determines the need for public and private use.

Furthermore more through technology transfer we see sustainable economic growth, whereby it includes commercialization of technology. These improvements can be seen in education within each passing day; today it is more convenient for students to attain international studies without ever leaving the country. We have also seen changes in the Agricultural industry, where there has been an energy transfer. Farms no longer need mass amounts of labourers; majority of the heavy labour can be done automatically.

However there has been a disadvantage when it comes to the technology transfer, which could mostly be overlooked. One of those factors can be dependency; due to the increase of technology society has become less self-reliant, which may pose a problem in terms of performing tasks normally handled by technological products. Another huge issue is the fact that technology has displaced the need of human workers; this causes a direct impact in unemployment.

The only solution to moving forward as a developing country would be to create sustainable technological developments in order to sustain the country’s growth but also making it eligible for us to compete. Another way to do this would be for government to aid in making it more feasible for companies whether small or medium to engage in business country to country, without endless red tape.

However in recent news and the Department of Science and Technology executing its mandate of ensuring through the implementation of national research and development strategy, its aim is to make science and technology the driving force in enhancing productivity and economic growth as well as socio-economic development. We have seen these come to fruition with the research advancement of HIV cure, as well as the biggest breakthrough in cardiology since the first hear transplant of a gene that causes early deaths in young athletes.

The more the government invests in research and development, increasing the GDP% per annum, the more information there will be in terms what Africans need, which in turn creates a platform of whereby African are able to come up with more and more innovations, treatments, mechanisms that solely aim to assist the lives of Africans.