ABSTRACT
In this chapter, we want to deepen our understanding of technology and provide some insight as to why technology is important for firms and countries. We illustrate the significance of technologies through two different theoretical streams:
First, we show the relevance of technology for the competitive advantage of companies with the help of strategic management literature (Section 3.1).
Secondly, we point out the importance of technology for the economic growth of nations by explaining its role in macroeconomic growth theory (Section 3.2).
