Strategic Role of Technological Self-Reliance in Development Management

Abstract

Thanks to technological advancements, every society — throughout the world — is now better off than before. Although this is true for all societies considered in an aggregate manner, within each society and between different societies, the relative gaps in prosperity are increasing. Reversing these gaps is the most important challenge for human development in the twenty-first century. A thorough scrutiny of the causes for the observed negative trends would indicate that technological gap is at the root of all. Success stories clearly tell us that technological capacity building is the best foundation for any meaningful economic growth that leads to a higher standard of living and greater prosperity for the citizens of a country. Moreover, technology-based creative problem solving and the ability to manage technological innovation are essential prerequisites for the success of contemporary business executives operating in the competitive globalized market environment. Paying attention to these lessons is the call of the day for any developing country government as well as for the business executives of that country. This article discusses the strategic role of technological self-reliance in development management, in terms of what we have learned so far and where we should be going, so as to reverse the widening technological capacity gap between the developed and developing countries.