Technology is the application of knowledge to achieve practical goals in a predictable and reproducible manner. It includes both tangible tools, such as utensils and machines, and intangible ones, such as computer systems and software. It plays a critical role in science, engineering, and everyday life.

A technological innovation can be a good or a bad thing, depending on how it is used. It can improve quality of life, but it can also create new problems and make existing ones worse. This is why it is important to consider the full lifecycle of any new technology before deciding whether or not to adopt it.

For example, when a company uses new technology to speed up work processes, employees may become frustrated and angry if they don’t get the results they expect. They may even be more likely to develop health problems as they become less physically active due to being sedentary all day long.

Almost all modern companies use some form of technology to stay competitive in their respective industries. Technology can help them provide better products to their customers and clients, as well as reduce operating costs. This helps them improve their bottom line and increase profits.