Technologies in the context of "Business process management"

Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity, realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies.

Innovation often takes place through the development of more-effective products, processes, services, technologies, art worksor business models that innovators make available to markets, governments and society.

The history of technology is the history of the invention of tools and techniques by humans. Technology includes methods ranging from simple stone tools to the complex genetic engineering and information technology that has emerged since the 1980s. The term technology comes from the Greek word techne, meaning art and craft, and the word logos, meaning word and speech. It was first used to describe applied arts, but it is now used to describe advancements and changes that affect the environment around us.

New knowledge has enabled people to create new tools, and conversely, many scientific endeavors are made possible by new technologies, for example scientific instruments which allow us to study nature in more detail than our natural senses.

Solar energy is the radiant energy from the Sun's light and heat, which can be harnessed using a range of technologies such as solar electricity, solar thermal energy (including solar water heating) and solar architecture. It is an essential source of renewable energy, and its technologies are broadly characterized as either passive solar or active solar depending on how they capture and distribute solar energy or convert it into solar power. Active solar techniques include the use of photovoltaic systems, concentrated solar power, and solar water heating to harness the energy. Passive solar techniques include designing a building for better daylighting, selecting materials with favorable thermal mass or light-dispersing properties, and organizing spaces that naturally circulate air.

In 2011, the International Energy Agency said that "the development of affordable, inexhaustible and clean solar energy technologies will have huge longer-term benefits. It will increase countries' energy security through reliance on an indigenous, inexhaustible, and mostly import-independent resource, enhance sustainability, reduce pollution, lower the costs of mitigating global warming .... these advantages are global".

The Internet of things (IoT) describes physical objects that are embedded with sensors, processing ability, software, and other technologies that connect and exchange data with other devices and systems over the Internet or other communication networks. The IoT encompasses electronics, communication, and computer science engineering. "Internet of things" has been considered a misnomer because devices do not need to be connected to the public Internet; they only need to be connected to a network and be individually addressable.

The field has evolved due to the convergence of multiple technologies, including ubiquitous computing, commodity sensors, increasingly powerful embedded systems, and machine learning. Traditional fields of embedded systems, wireless sensor networks, and control systems independently and collectively enable the Internet of Things.

Financial integration is a phenomenon in which financial markets in neighboring, regional and/or global economies are closely linked together. Various forms of actual financial integration include: Information sharing among financial institutions; sharing of best practices among financial institutions; sharing of cutting edge technologies (through licensing) among financial institutions; firms borrow and raise funds directly in the international capital markets; investors directly invest in the international capital markets; newly engineered financial products are domestically innovated and originated then sold and bought in the international capital markets; rapid adaption/copycat of newly engineered financial products among financial institutions in different economies; cross-border capital flows; and foreign participation in the domestic financial markets.

Because of financial market imperfections, financial integration in neighboring, regional and/or global economies is therefore imperfect. For example, imperfect financial integration can stem from the inequality of the marginal rate of substitutions of different agents. In addition to financial market imperfections, legal restrictions can also hinder financial integration. Therefore, financial integration can also be achieved from the elimination of restrictions pertaining to cross-border financial operations to allow (a) financial institutions to operate freely, (b) permit businesses to directly raise funds or borrow and (c) equity and bond investors to invest across the state line with fewer [or without imposing any] restrictions. However, it is important to note that many of the legal restrictions exist because of the market imperfections that hinder financial integration. Legal restrictions are sometimes second-best devices for dealing with the market imperfections that limit financial integration. Consequently, removing the legal restrictions can make the world economy become worse off.In addition, financial integration of neighboring, regional and/or global economies can take place through a formal international treaty which the governing bodies of these economies agree to cooperate to address regional and/or global financial disturbances through regulatory and policy responses. The extent to which financial integration is measured includes gross capital flows, stocks of foreign assets and liabilities, degree of co-movement of stock returns, degree of dispersion of worldwide real interest rates, and financial openness. Also there are views that not gross capital flows (capital inflow plus capital outflow), but bilateral capital flows determine financial integration of a country, which disregards capital surplus and capital deficit amounts. For instance, a county with only capital inflow and no capital outflow will be considered not financially integrated.

Writing assessment refers to an area of study that contains theories and practices that guide the evaluation of a writer's performance or potential through a writing task. Writing assessment can be considered a combination of scholarship from composition studies and measurement theory within educational assessment. Writing assessment can also refer to the technologies and practices used to evaluate student writing and learning. An important consequence of writing assessment is that the type and manner of assessment may impact writing instruction, with consequences for the character and quality of that instruction.