Small and medium enterprises and the effectiveness of technology Essay

Small and medium enterprises and the effectiveness of engineering business incubators in Saudi Arabia - Essay prototypeThe combination of all these forces has set the pace for the progress in global economy and defined the port firms have to operate at the global level. What is also important to note that the combination of these forces has actually resulted into economic progress, equality, democratization, equality in income distribution as well as a refreshed focus on knowledge growth? Technology specially has made knowledge based progress an important ingredient of new era where only those can survive who have access to knowledge and who can essentially innovate and generate new knowledge. The flashing of engineering has been made possible due to an enormous accession in the computing power coupled with the reduced communication costs which has allowed technology to actually flourish and dominate the current market place. (Phillips, 2002) It has been argued that the techno logy business incubators ar the necessary equipments in order to contact progress through technology led knowledge base enterprises. Different studies clearly outlines that the use of technology business incubators not only allow the firms to gain access to the technology but also improve their chances of survival thus making them stronger enough to better manage risk and uncertainty. Rice (1995) outlined that the raw material purpose of business incubators is to help support the process of creation of new business ventures. This focus hence categorically suggest that the role of business incubators is only limited to the providing of necessary support to the new ventures to bewilder self sustaining and convey enough to manage risk effortlessly. (Rice, 1995) The basic nature of a business incubator is to provide the shared support, training,... According to the research findings business incubators are formed to provide support and resources to the new attempt up businesses in order to upgrade their ability to survive. Numerous studies have suggested that when new start up firms is passed through incubators, their chances for survival increase. Technology business incubators are focused on providing support for the technology oriented start up businesses to provide them necessary support. Studies have suggested the role of different stakeholders in formation, emergence and running of business incubators. Further, studies have also been mentioned which focused on different criteria which are used by business incubators to select the firms for support and development. Developing countries face different factors and environment under which they have to develop their technology business incubators. Developing countries like Saudi Arabia therefore will have to improve their pitying resource base as well as upgrade the resource level of its universities to make them furnish enough to provide support. Further, the need for appointing appropriate management to run incubators has also been discussed. This has been discussed with special reference to exploitation countries and how they can actually visualize different factors which may be considered as necessary to ensure that SMEs are duly supported by technology business incubators. The failure to properly integrate such factors into constitution response may not result into desired results of social change and economic progress for growth countries.