Biotechnology (sometimes shortened to "biotech") is a field of applied biology that involves the use of living organisms and bio processes in engineering, technology, medicine and other fields requiring bio products. Biotechnology also utilizes these products for manufacturing purpose. Modern use of similar terms includes genetic engineering as well as cell and tissue culture technologies. The concept encompasses a wide range of procedures for modifying living organisms according to human purposes going back to domestication of animals, cultivation of plants, and "improvements" to these through breeding programs that employ artificial selection and hybridization. By comparison to biotechnology, bioengineering is generally thought of as a related field with its emphasis more on higher systems approaches (not necessarily altering or using biological materials directly) for interfacing with and utilizing living things. The United Nations Convention on Biological Diversity defines biotechnology as "Any technological application that uses biological systems, living organisms, or derivatives thereof, to make or modify products or processes for specific use."
Here i have given a rough idea that you can get from this article that what is biotech really about. This one of the greatest revolution which will help the future mankind \to survive in this world peacefully and healthily.
The concept is simple so let's don't make it complex so that we won't understand it anyway forever...
Ok fellows reading is fun, Keep it up and Keep in touch.