Impacts of Adapting to New Technology on Companies

This study examines the impacts of adapting to new technology on companies, including increasing customer retention, sales, and profitability. It also discusses the negative impacts such as increasing unemployment and miscommunication. The study emphasizes the importance of skills like time management and resourcefulness in effectively using technology. A personal development plan is provided to improve these skills.

Academic Research and
Writing

Table of Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
Impacts of adapting to new technology business issues on companies.......................................1
PART 2............................................................................................................................................3
Reflection on the learning............................................................................................................3
PART 3............................................................................................................................................4
Personal development plan on academic skills...........................................................................4
CONCLUSION................................................................................................................................5

INTRODUCTION
Academic research can be defined as a systematic investigation into a problem as well as
situation (Cottrell, 2019). This present study is going to show impacts of advanced technology
that have on overall performance of companies and productivity of people. It will also discuss
effectiveness of some skills that are required in reducing negative impacts and having positive
impacts. Time management critical thinking and ability of using technology makes companies
able to solve problems, taking better decision and improving productivity. Lastly, it will show
importance of personal development plan and ways as how it helps people in improving their
skills.
Nowadays it has become important for organizations to focus upon new technologies that
have entered into the market and that are being used by their competitors. Adopting new
technology directly helps organizations in gaining competitive advantage, increase effective and
efficiency of their customers in an effective manner. In order to remain competitive in market
most of the organizations are focusing upon adopting new technology.
PART 1
Impacts of adapting to new technology business issues on companies
Business environment is made up of internal and several external factors and changes in all
these factors affect companies to the great extent in both positive and negative manner. Some
external factors include: political, economic, social, technological and others. Nowadays in this
digital era, all sectors of companies are making use of digital technology that is making them
able to improve performance. Some positive impacts of new technology on hospitality and other
sector of companies are:
Increasing customers’ retention rate: In the regards to hospitality sector like hotels, travel and
tourism sector it can be said that advanced technology and adaption of new technology has
changed way of performing functions. Hotels are making use of AI, room robots and this
adaption of new technology are making them able to attract customers and improving their
experience (Hutchings, 2019). Customers also find easier in using all services as with the help of
digital and new technology that hospitality sector of companies are adapting, they can access
their room in their absence, they can lock their room if they forget, can use Wi-Fi and other
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technological facilities. Customers retain with the company for the long run and it improves their
image.
Increasing sales and profitability: Online shopping is one of the best examples of
advanced technology that several companies are providing to their customers. There are several
retailers and companies that are providing online shopping and home delivery to customers.
People nowadays are becoming busy as they do not have time to go to market and buy products
but adaption of new technology by several companies are solving this problem of people. People
can buy products and get their order at their home. It saves their travelling cost and also save
their time. It makes them feel valued and companies also get positive feedbacks. Customers
become loyal once they get satisfied with online shopping that increases sales and profitability
because some companies charge online delivery cost. So, it can be said that it is beneficial for
both companies and customers.
Competitive advantages: It is found that there are several companies who have become the
marker leader only because of advanced technology and the way in which they adapted
technology. Some examples of retailers like Woolworth, Tesco, Hilton hotel and others have
taken advantages of competition. They produced services and products in an effective and unique
manner (Tenopir and et.al., 2017). With the help of some technologies like AI, room robotics
tools for reducing wastes, digital marketing have allowed them to attract customers, increasing
sales and making their products differ than others.
So, overall it can be said that the way of adapting technology is the main key of the success of
companies. There are some negative impacts of new technology that can create some barriers
such as:
Increasing unemployment rate: In this regards it can be said that companies are making use of
technologies to the great extent and it is reducing man power. Due to using technologies and
reducing man power, companies are reducing job opportunities and people are finding problems
in getting employment opportunities. Due to advanced technologies and performing all functions
with technology is increasing unemployment rate that is affecting economy of countries.
Increasing errors: It can be said that technology help companies and people in increasing
performance as it completes work in a timely manner. As compared to people, with the help of
technologies companies can save time and make their work easier. But on the other side, it
increases errors because technologies do not have abilities as like human of thinking about what
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is wrong and what is right. It works as like human direction so, there are chances of errors and
defects in quality.
Miscommunication: It reduces interpersonal communication and when employees’ or people
communicate with the help of technologies then there are high chances of miscommunication.
This communication sometimes leads to conflicts among employees and it can affect image of
the company.
So, on the basis of above discussion it can clearly be said that having negative and positive
impacts is completely depend upon the ways of adapting and using. For making use of
technology in an effective manner there is requirement of having some skills like problem
solving, critical thinking, creativity, resourcefulness, analytical abilities, communication and
others (Bistline and Blanford, 2020).
Adapting new technology directly impacts organizations in both positive and negative
manner. It not only impact business but it impact employees as well. Impact of adapting new
technology can be explained with the help of two examples NHS and Hilton Hotel. NHS has
recently adopted eHealth innovation for scaling their business. But they are struggling in
adopting this new innovative technology in an effective and appropriate manner. They are
majorly struggling in terms of commercializing it and using it for scaling up their digital health
businesses in the UK. This does not help them to respond well to central policy directives in nan
appropriate manner. Hilton hotel is another example that can be used to understand ways in
which adapting new technology can impact organizations. Hilton has focused upon increasing
development of high- tech rooms for their customers but are struggling in adopting it in an
effective manner. Hilton is struggling to make their customers comfortable with the new
technology of using smart new high- tech technology within their rooms. Both the examples can
clearly be used to understand impact of adopting new technology upon organizations.
PART 2
Reflection on the learning
Learning: On the basis of above discussion it can be said that technology has several positive
and negative impacts but the key of success of companies is mainly depend on ways of using
technology. By developing above study I have learned several new things I found that I have
effective critical analysis skills and ability. This skill plays an important role in taking better
decision and solving problems. For making use of technology in an effective manner and having
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positive impacts, we all are requiring of having perseverance and analytical abilities.
Perseverance means stick on things and not giving up on difficult tasks. I also found that the best
IT professionals are willing to tinker around persistently with a particular technology for finding
solutions to challenges and help company in accomplishing goals. On the other hand, with self
analysis I found that I am lacking in some skills and one of the main skills is time management
and resourcefulness (Briukhanov and et.al., 2017). According to resourcefulness, we all are
requiring finding technology, software and products that can increase productivity.
Importance: All these skills that I have identified play an important role. In the regard to critical
analysis I can say that it makes us able to solve critical problems and taking better decision is
identifying best ways of using technology. Time management and resourcefulness in which I am
not good also plays an important role as with the help of these skills companies can make use of
technologies in an effective manner by identifying problems and usage. Time management
makes companies and people able to deliver projects to customers in a timely manner and
increasing their experience. I believe that this skill reduces stress among employees and makes
them concentrated.
Future development: All skills like time management, problem solving, perseverance, decision
making and resourcefulness plays an important role as it can help me out in the future as well.
With the help of all these skills I can get better employment opportunities in the future and can
develop my career. I also believe that time management and perseverance skill can reduce stress
at workplace and I can improve my productivity by focusing on tasks and being refreshed (Tan
and Fawzi, 2017). It can help me out in showing my potential and taking advantages of
promotional and other external opportunities.
PART 3
Personal development plan on academic skills
On the basis of self analysis and reflection I found that I am lacking in some skills that are time
management and resourcefulness. For helping out companies in using technologies in an
effective manner I need to improve these skills (Gekara and Thanh Nguyen, 2018).
Areas need to be improved Tools for improvement Time
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Time management For completing tasks in give
deadline there is requirement
of reducing procrastination.
Procrastination is the main
barrier in time management
skill. Rather than this there are
several other resources and
tools that can help in
improving time management
such as: Scoro, trello and
others. These tools help us out
in setting time and prioritizing
tasks.
15-20 days
Resourcefulness An ability to identify
technologies, identifying
problems and using
appropriate technology is the
main key of having positive
impacts of technology. For
that I require taking actions in
a timely manner and self
motivating by developing
goals. Goals can help us out in
becoming self motivating and
increasing ability of
completing difficult tasks in
an effective manner.
20 days
CONCLUSION
It has been summarized from the above study that technology plays an important role. New and
advanced technologies have several positive and negative impacts and it is mainly depend upon
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the ways of companies in using technology. It has also shown effectiveness of some skills that
also make people and employees able to use technology in an effective manner and having all
positive impacts that advanced technology can give to people and companies. Some skills that
this study has shown are time management, perseverance, resourcefulness, creativity and critical
thinking. Lastly, it has shown effectiveness of personal development plan in improving skills.
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REFERENCES
Books and Journals
Bistline, J.E. and Blanford, G.J., 2020. Value of technology in the US electric power sector:
Impacts of full portfolios and technological change on the costs of meeting
decarbonization goals. Energy Economics, 86, p.104694.
Briukhanov, A. and et.al., 2017. Method of designing of manure utilization
technology. Agronomy Research, 15(3), pp.658-663.
Cottrell, S., 2019. The study skills handbook. Macmillan International Higher Education.
Gekara, V.O. and Thanh Nguyen, V.X., 2018. New technologies and the transformation of work
and skills: a study of computerisation and automation of Australian container
terminals. New Technology, Work and Employment, 33(3), pp.219-233.
Hutchings, S., 2019. The social skills handbook: practical activities for social communication.
Routledge.
Tan, L.M. and Fawzi, L., 2017. Employability skills required of accountants. In SHS Web of
Conferences (Vol. 34).
Tenopir, C. and et.al., 2017. Research data services in European academic research
libraries. Liber Quarterly, 27(1).
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