Technology, Wealth and Modern Management of Technology

In the paper, we propose somewhat different conceptualizations oftechnology, of a fundamental relationship between technology andwealth in a society, of technological capability, and of management oftechnology. We based our proposed conceptualizations on the currentgeneral and relevant technological practice. In order to infer these conceptualizations,we studied today’s largest companies worldwide in differentproduction and technology sectors as well as some general reportingon technology from technology-oriented media. These fundamentalconceptualizations may be of interest to all those who are practicallyor theoretically concerned with technology, wealth, technologicalcapability and management of technology, and who want to comprehendthe essence of technology and its relations to phenomena, such aswealth and management (‘to get the big picture’). At the end, we explainwhy there is a need inmodern companies tomanage technologiesand what a new paradigm of management of technology is, i. e. whatnew challenges and trends a modern management of technology has toface.