Impact Of Technology On Business Operations: Experts' Views And Critical Evaluation

Benefits of Technology in Business Operations

Question:

Discuss about the impact of technology on business.

This report will include the discussion with regards to the impact of the technology over the business and its operations. With the help of business experts, this topic will be discussed. Critical evaluation and the comparison between the views and opinions of those experts will also be included under this report. With the help of technology in business and from small level enterprises to the large level organizations, technology has made all of them equal. From planning process to the execution ad evaluation process, technology helps the business organizations to enhance its performance in the dynamic business environment. Technology in the business includes computers, servers, internet, etc. through which the functionalities of the organization could easily be conducted in order to gain the desired goals and it also helps them to acquire the competitive advantage

In the views of Shaqiri (2015), from past years, rapid changes has been noticed in the technological field which consist the computing, communications and these developments have bring the revolution in the business. These technologies’ impact is not only on the humans but it has changed the method of performing the business activities too. With the help of technology, business organizations easily approach to its target audience and introduction and the promotion of the new products and the services has becomes the easy task. Collaboration and interaction amongst the employees and the suppliers could also be done easily from any part of the globe. This helps the management to easily access and controls the organizational activities while it has also modified the method of performing the tasks for employees (Hassan, et. al., 2016). With the use of technology, employees’ hard work is now converted into smart work. Internet is one of the most effective and efficient tool of the technology which has improved various systems whether relates to the business or related to any other field. Nowadays, internet has developed a separate place in every individual’s personal as well as in professional life. Author’s major focus is on the improvement acquired with the help of technology and the usage of internet for attaining the competitive advantage. These tools could also be used for the movement of the goods and the services from manufacturers to the consumers. E-commerce companies are biggest examples for this; they use the technological innovations and performing business functionalities on the electronic platforms. With this, business organizations could enhance their scope, size and diversification of the business network (Patton, 2014).

Technological changes and developments has been noticed in last 50 years only and today, start-up of a business or start-up of any project is impossible without information technology. Information technology is a broad term which does not includes smartphones, personal computers, internet, etc. only, it also includes the machineries used in the factories for production, and automotive vehicles, etc. are also a big part of the information technology (Drnevich & Croson, 2013). The major factor through which the growth and the expansion of the business enterprise could be done in easy manner is with the help of technology. Rapid inventions made in order to increase the technological effectiveness in the organization, it is necessary to understand the basic business’ requirements (Dunning, 2013). It helps the organization to develop an important place in the competitive business environment as well as this will also help the organization to enhance its capabilities to increase productiveness in relevance with fulfilment of the consumers’ needs. This develops positive image in the consumers’ mind-sets for organization which make the attainment of the goals and the objectives easier (Trainor, et. al., 2014).

Importance of Adopting Emerging Technologies

According to Ahmad (2014), technological advances have brought the revolutionary change in the functionalities of an organization. It has improved the manager’s skills as well as it has increased the efficiencies for all the professional fields. With the help of latest technologies and devices, business organizations have introduced various innovative products and services through which world is moving towards the automation under which most of the tasks are performed by the machineries on behalf of humans. In the present scenario, organizations are required to adopt adequate technologies which could be moulded as per the business environment (Visnjic, Wiengarten & Neely, 2016). Business environment is dynamic in nature and to meet with the desired goals and the objectives, organization is required to adopt certain effective technologies in order to satisfy the consumers’ needs as well as to fulfil the company’s needs. Organizations that are not able to adopt the trending technologies on the basis of current business scenarios, their operations will be at risk as well as attainment of the goals and the objectives will also be a difficult task (Wraikat, Bellamy & Tang, 2017).

Primary success factor in business environment is change and moulding the operations on the basis of change in order to match up with the present scenarios. Author has described the various impacts of the technology on the business organizations in this article. This article also consist the implication of the technology, impact of the technology on business organizations and the reasons for introducing the technology within the workplace. Along with these terms, it also concludes the issues which act as the barriers to the technological advancements within the workplace. Technology and its factors have made its great place within operations management of an organization. It is defined that the technology includes certain tools, techniques, devices, etc. which help the organization for enhancing its performance. Crucial departments of an organization are production, marketing, management, etc. all these are responsible for performing the tasks for an organization in an effective manner. Thus, management needs to identify and adopt certain tools and techniques through which appropriate outcomes could be attained. Effect of emerging technologies is also increasing and business enterprises are required to adopt these emerging technologies for satisfying their consumers’ needs as well as to maintain an effective position in the competitive business environment. Adaptation of the advanced technologies and implementation of those technologies is another crucial aspect through which functionalities of the organization could be designed in an effective manner. Managing the activities and performing those in the right manner extracts the most effective and positive outcomes for the organization. Technologies, advancements, and automation leads to reduce the human efforts in the completion of tasks while it also leads to various risk factors (Scarbrough & Corbett, 2013).

As per Beharry & Pfano (2016), technologies and its linked devices has made an important place within the workplace. Due to this, organizational survival without technology cannot be imagined. Efficiency and the effectiveness can easily be enhanced with the help of technology and with rapid improvements. From past few years, rapid changes in the technologies and the methods of execution of tasks have been noticed. This has helped the organization to increase its efficiencies as well as it has leaded thee organizations towards the attainment of the goals and the objectives. According to the authors, for increasing the organizational effectiveness and the efficiency, it is necessary that facts and the information should be used in an effective manner which helps in effective decision making process, developing interaction amongst the employees and it also helps the organization in attaining the competitive advantage (Islam, Jasimuddin & Hasan, 2017).

Tools and Techniques for Enhancing Organizational Performance

Thus, it can be said that adaptation of advance technologies helps in enhancing the managers’ performances through molding the tasks with the help of technological factors. In a business enterprise, allocation of the tasks, available business resources, etc. are necessary in order to manage the businesses’ activities in an effective manner. This helps them to attain the goals and the objectives in an adequate manner. Adaptation of the technologies also leads to build effective relationship with the employees and the consumers. Both these aspects plays crucial role in terms of organizational performances and for this managing the employees and fulfilment of their needs is very important. Developing interaction amongst the employees would help the organization to perform the required functionalities in an appropriate manner. With this, the attainment of the goals and the objectives becomes an easy task. Apart from this, it is also essential in order to build the team bonding which lead to enhancement in the organizational efficiency. Adaptation of the promotional and communication technologies is also necessary for an organization in order to reach to the desired destination. Managers need to identify the business needs and on the basis of the outcomes, managers are required to recognise the most effective and efficient technologies through which the set target could be met. Internal communication system is effective and required invention of technology and through this, organization could easily spread the information amongst the internal participants of the organization as well as the required information will easily be transferred to the target audience in relevance to the promotion of the organizational products and services. Information and Communication Technology (ICT) helps the managers to interact with its subordinates in an effective manner and this leads to the development of the relationship amongst the employees and the management through which the attainment of the goals and the objectives becomes an easy task

Conclusion

The impact of technology over business enterprises, influence over the functionalities of the organizations and the implications of technology over the business performances are certain crucial segments of adaptation of the technology within the workplace. Under this report, various authors’ views, perceptions and ideas over the business performance with relevance to the technological aspects were discussed. Three articles were included in this report for evaluation of the impact of the technology on business. Technology influenced the organizations to expand its business at the international level as it could easily be managed and controlled with the help of centralised controlling system from one place. Technology in the business includes computers, servers, internet, etc. through which the functionalities of the organization could easily be conducted in order to gain the desired goals and it also helps them to acquire the competitive advantage. Thus, it can be concluded that the impact of technology on business is huge.

References

Ahmad, S., 2014, “Technology in Organizations”, International Journal of Research in Business Management, vol. 2 (7), pp. 74-79.

Drnevich, P.L. and Croson, D.C., 2013. Information technology and business-level strategy: Toward an integrated theoretical perspective. Mis Quarterly, 37(2).

Dunning, J.H., 2013. Multinationals, Technology & Competitiveness (RLE International Business) (Vol. 13). Routledge.

Hassan, S., Shiratuddin, N., Hashim, N.L., Ab Salam, S.N. and Sajat, M.S., 2016. Social media as persuasive technology for business: trends, and perceived impact in Malaysia.

Islam, M.Z., Jasimuddin, S.M. and Hasan, I., 2017. The role of technology and socialization in linking organizational context and knowledge conversion: The case of Malaysian Service Organizations. International Journal of Information Management, 37(5), pp.497-503.

Patton, D., 2014. Realising potential: The impact of business incubation on the absorptive capacity of new technology-based firms. International Small Business Journal, 32(8), pp.897-917.

Pfano, M. & Beharry, A., 2016, “The effect of modern office technology on management performance: Durban Westville”, Problems and Perspectives in Management (open-access), vol. 14 (2).

Scarbrough, H. and Corbett, J.M., 2013. Technology and Organization (RLE: Organizations): Power, Meaning and Deisgn. Routledge.

Shaqiri, A.B., 2015, “Impact of Information Technology and Internet in Businesses”, Academic Journal of Business, Administration, Law and Social Sciences, vol. 1 (1), pp. 73-79.

Trainor, K.J., Andzulis, J.M., Rapp, A. and Agnihotri, R., 2014. Social media technology usage and customer relationship performance: A capabilities-based examination of social CRM. Journal of Business Research, 67(6), pp.1201-1208.

Visnjic, I., Wiengarten, F. and Neely, A., 2016. Only the brave: Product innovation, service business model innovation, and their impact on performance. Journal of Product Innovation Management, 33(1), pp.36-52.

Wraikat, H., Bellamy, A. and Tang, H., 2017. Exploring Organizational Readiness Factors for New Technology Implementation within Non-Profit Organizations. Open Journal of Social Sciences, 5(12), p.1.