Firms need technology in order to compete better.  Indeed, one of the reasons Ugandan businesses have not been able to penetrate deeper into global markets is the inferior technologies, compared with producers of similar products in other countries.  It is therefore important to consider what technology is, why it is required and how it can be applied in a given firm.

To many, the word technology conjures up images of sophisticated machinery and a seamless production line.  In reality, technology embraces the entire spectrum of knowledge, skills, techniques and expertise. It is possible to have all these and still fail to make effective use of the technology.

The ability for a firm to combine all the available resources to meet its business objectives is an integral component of technology. Technology can be used to produce, commercialize and utilize goods and services to satisfy economic and social demands.  Given this broad scope, virtually every firm that produces goods and services has a certain level of technology.

The challenge then is to produce more, faster, better.  But before a desired technology is acquired, firms must ask some fundamental questions. Take, for example, a food processor that wants to package mangoes in syrup.  Before acquiring the production line, one needs to ask if there is a market for the product to justify the investment. Is the demand sustainable?

Can the equipment be maintained at affordable cost? Are there other factors, such as power supply, that could affect the performance of the equipment?  It is also worthwhile to consider other means of acquiring the technology, through joint venture partnerships, licensing and franchise, among others.

Agencies such as the Uganda Gatsby Trust and Uganda National Council for Science & Technology can provide some assistance in technology. PSF will also make some interventions in the near future.

Regardless of the product or service category, there are principles that firms must apply in order to remain competitive. With the increased competition, consumers are getting used to better quality products at increasingly lower costs.

First, firms must embrace the notion of continuous improvement.  Secondly, the systems must be built to accommodate the consumers changing tastes and preferences.  Thirdly, do not neglect the more intangible aspects of technology, such as management, organizational structure and culture.

There is no room for complacency as far as technology is concerned.