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www.ccsenet.org/ibr International Business Research Vol. 5, No. 1; January 2012

ISSN 1913-9004 E-ISSN 1913-9012


Thus, the term technology has been given various definitions by previous literatures. According to Kumar et. al (1999)

technology consists of two primary components: 1) a physical component which comprises of items such as products,

tooling, equipments, blueprints, techniques, and processes; and 2) the informational component which consists of

know-how in management, marketing, production, quality control, reliability, skilled labor and functional areas. The

earlier definition by Sahal (1981) views technology as ‘configuration’, observing that the transfer object (the

technology) relies on a subjectively determined but specifiable set of processes and products. The current studies on

the technology transfer have connected technology directly with knowledge and more attention is given to the process

of research and development (Dunning, 1994). By scrutinizing the technology definition, there are

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