In order to design, create, or provide a product or service, it takes technological resources to make it happen. Technological resources cover a wide range of things including machines, energy, data, tools, and of course, people, without whom none of the prior mentioned things would be possible.
People are an important technological resource because they operate the computers, machines, tools, and calculate data that is used to create a product or service. Technology, as we know it, is rapidly changing and this is mostly due to people researching, designing, and implementing new ideas.
Technological resources make the process of creating something more effective and efficient. These resources help to grow productivity of businesses.
As mentioned earlier, the most important technological resource is people. People are imperative to making a product, producing data, operating machines, selling products, and more. Products could not exist without people involved in the process of creation. Advances in technology are also attributed to people due to their research, data collection, and calculations.
Some examples of energy are electricity, solar power, and batteries. Energy is a technological resource that is needed in the production of most goods. Electricity, batteries, or solar power is needed to operate machines, computers, calculators, lights, and regulate the climate inside buildings. The sun is also an energy source, and is needed to produce resources, such as plants, and provide power for solar-operated machines.
Information can come in many different forms. Information as a technological resource can be data fed into a computer or machine, or found in research, regulations, laws, and books. Even the daily news delivers information that can be relevant to the development of products or the delivery of services.
No products would exist without materials. These are classified as two different types: synthetic and natural materials. These two types of materials come in many forms, such as plastic, metal, wood, plants, cloth, and more.
A person probably wouldn't think of time as a technological resource, but without it nothing would happen. Time is needed to make products, and required by salespeople to sell services or products. Once you know the time necessarily, it helps determine how many employees are needed (and for how long each) to make product creation happen.
Tools and Machines
There are many types of tools and machines. Both can range from something small, such as a hammer or can opener, to something more substantial such as a leaf blower or heavy duty farm equipment. Many tools and machines produce a final product by taking materials and transforming them into something.
Assets are capital, and include things such as equipment, buildings, land, and money--they are critical for the production of making goods. Money is needed to purchase assets, pay employees, and to pay for materials.