The time varying conditions in the near-Earth space environment that may affect space-borne or ground-based technological systems and may endanger human health or life are referred to as space weather. Space weather effects arise from the dynamic and highly variable conditions in the geospace environment starting from explosive events on the Sun (solar flares), Coronal Mass Ejections near the Sun in the interplanetary medium, and various energetic effects in the magnetosphere-ionosphere-atmosphere system. As the utilization of space has become part of our everyday lives, and as our lives have become increasingly dependent on technological systems vulnerable to the space weather influences, the understanding and prediction of hazards posed by these active solar events have grown in importance. In this paper, we review the processes of the Sun-Earth interactions, the dynamic conditions within the magnetosphere, and the predictability of space weather effects on radio waves, satellites and ground-based technological systems today.