An analysis of the influence of technology in business and management

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An analysis of the influence of technology in business and management

So loosely interpreted, technology means the art of logic or the art of scientific discipline. Formally, it has been defined by Everett M.

Rogers as "a design for instrumental action that reduces the uncertainty in the cause-effect relationships involved in achieving a desired outcome". That is, technology encompasses both tangible products, such as the computer, and knowledge about processes and methods, such as the technology of mass production introduced by Henry Ford and others.

An analysis of the influence of technology in business and management

Another definition was put forth by J. Paap defined technology as "the use of science-based knowledge to meet a need. It then leverages this information to improve both the performance and overall usefulness of products, systems, and services.

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In the context of a business, technology has a wide range of potential effects on management: Reduced costs of operations. For example, Dell Computer Corporation used technology to lower manufacturing and administrative costs, enabling the company to sell computers cheaper than most other vendors.

New product and new market creation. For example, Sony Corporation pioneered the technology of miniaturization to create a whole new class of portable consumer electronics such as radios, cassette tape recorders, and CD players.

Adaptation to changes in scale and format. In the early part of the twenty-first century, companies addressed how small devices such as cell phones, personal digital assistants PDAsand MP3 players could practically become, as well as how each product could support various features and functions.

For example, cell phones began to support email, web browsing, text messaging, and even picture taking as well as phone calls.

The sophisticated package-tracking system developed by Federal Express enables that company to locate a shipment while in transit and report its status to the customer. With the development of the World Wide Web, customers can find the location of their shipments without even talking to a Federal Express employee.

For example, the banking industry has reduced the cost of serving its customers by using technologies such as automated teller machines, toll-free call centers, and the Web. This reduction in cost could be attributed primarily to reduction the amount of labor involved, which had a profound effect on employment and labor-management relations in banking.

Professor Michael Porter of Harvard Business School is one of many business analysts who believe that technology is one of the most significant forces affecting business competition.

In his book Competitive AdvantagePorter noted that technology has the potential to change the structure of existing industries and to create new industries. It is also a great equalizer, undermining the competitive advantages of market leaders and enabling new companies to take leadership away from existing firms.

In a Grant Thorton LLP survey conducted during late47 of mid-size manufacturing businesses agreed that innovation had become increasingly import to the industry.

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Wolff reported, corporate strategists were encouraging this by bringing product designers along on customer visits, offering rewards and recognition programs to employees with innovative ideas, including innovation as a priority in business strategies, setting revenue goals attributable to innovation, and looking for "willingness and ability to innovate" when making hiring decisions.

Technology is inherently difficult to manage because it is constantly changing, often in ways that cannot be predicted. Technology management is the set of policies and practices that leverage technologies to build, maintain, and enhance the competitive advantage of the firm on the basis of proprietary knowledge and know-how.

National Research Council in Washington, D. While technology management techniques are themselves important to firm competitiveness, they are most effective when they complement the overall strategic posture adopted by the firm.

The strategic management of technology tries to create competitive by incorporating technological opportunities into the corporate strategy. Technology management focuses on the intersection of technology and business, encompassing not only technology creation but also its application, dissemination, and impact.

Given these trends, a new profession, known as the technology manager, emerged. Defined as a generalist with many technology-based specializations and who possessed new managerial skills, techniques, and ways of thinking, technology managers knew company strategy and how technology could be used most effectively to support firm goals and objectives.

Educational programs supporting this career grew as well. Formal Technology Management programs became available in the s and these were largely affiliated with engineering or business schools.

Coursework was limited, and the field was just finding its own unique focus. During the s, the increasing integration of technology into overall business function and strategy helped to align technology management more closely with business programs.

An analysis of the influence of technology in business and management

Most graduate programs in the s were offered through business schools, either as separate MBA tracks or as MBA concentrations.Keith Ellis is the Vice President, Marketing at IAG Consulting (r-bridal.com) where he leads the marketing and strategic alliances efforts of this global leader in business requirements discovery and r-bridal.com is a veteran of the technology services business and founder of the business analysis company Digital Mosaic which was sold to IAG in Excelsior offers a Bachelor of Professional Studies in Business & Management degree.

Take online classes, earn credit by exam, transfer in credits. Technology Analysis & Strategic Management is a quarterly international research journal, linking the analysis of science and technology with the strategic needs of policy makers and management.

WGU’s accredited online business management program offers a respected, flexible, and affordable bachelor’s degree for professionals seeking career advancement. Impact of Technology Advancement on Human Resource Performance human resource management provides And the impact and consequences of information technology on ANALYSIS An organization’s Technology is the process by which inputs from an organization’s environment is.

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