Final answer:
Improving upon existing technologies through Research and Development (R & D) is fundamental for enhancing efficiency, quality, and productivity. It allows businesses to gain a competitive edge and adapt to market demands, promoting constant technological evolution. Despite challenges, this process is essential for economic growth and societal advancement.
Step-by-step explanation:
Improving upon existing technologies is a critical reason for technology development because it boosts efficiency, quality, and overall productivity. This process, known as Research and Development (R & D), is essential to progress, despite being time-consuming and fraught with uncertainties. Take, for example, the University of Minnesota's project that began in the 1990s to develop a new apple variety; it took nearly three decades to become commercially available.
In business, firms like the hypothetical Technotron may invent new scientific technology to enhance their production capabilities, leading to increased output and quality at lower costs. This gives companies a competitive edge—by developing technologies that can be reused, they do not only benefit at the time of invention but also in the future. However, challenges such as the broad availability of technology potentially reduce the motivation for R & D investment, highlighting the role of patents and government support in fostering technological advancements.