Technology is one of the most important inputs for any industry, either production industry or any type of service providing industry. Technology is linked directly with the performance and profitability of an industry. In modern industrial scenario, due to the globalization of business, companies have to compete now at a much greater extent with both national and international rivals/Maintaining a competitive advantage has become critical to success for any business firm. But no company in general is self sufficient in all its technology needs. One solution for this problem, which has been adopted as an important strategy of today's business organizations, is technology transfer i.e. passing on technology within or between different organizations. Present paper analyses the term technology transfer in terms of profitability and stability of business firms against extreme competing rivals. The need of technology transfer and possible impediments in transfer of technology and know how together with the suggestions to overcome these possible impediments are also discussed.
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