“… There are no obsolete industries; there are only obsolete managers,” explains Professor Juan Rada, director of the International Institute for Management Development (IMD). The speech transcribed in this book deals, first, with the meaning of technology and the way in which we have to conceive the technological problem. Next, it examines the trends that will affect technological developments in the 1990s: a change in technological structure, a change in the logic of R&D, as a result of environmental concerns, the multi-disciplinary nature of technological development, and the development of portability, a product of telecommunications. The third aspect analyzed is the impact on companies, which is examined from the following points of view: the need for specialization, organization and finance.