Management of technology and responsive policies in a new economy

Proper management of technology is what creates wealth for nations, companies, and individuals. It forms the foundation for economic growth and determines national and organisational competitiveness, particularly in an increasingly global and fiercely competitive marketplace. The distinction between developed and developing economies ties primarily in the ability to effectively manage resources and technological assets. In order for developing countries to avoid being marginalised, they must formulate strong public policy, and their companies must improve the way they manage technology and innovation. This paper discusses globalisation, competitiveness, and the risk of marginalisation of developing nations in the emerging new economy. It also discusses the responses in public policy needed, with emphasis on human resource development.