Adapting to New Technology: Positive and Negative Effects on Companies

Adapting to new technology is referred to the adoption of updated and advanced technology in business. The article discusses the positive and negative effects of adapting to new technology in companies. It covers the impact on communication, productivity, and security. The article concludes that it is essential to identify all the problems generated by adapting to new technology for better and effective functioning of the companies.

Adapting to new
technology

Table of Contents
INTRODUCTION...........................................................................................................................1
Positive effects of issue on companies.............................................................................................1
Negative effects of issue on companies...........................................................................................2
CONCLUSION................................................................................................................................2
References........................................................................................................................................3

INTRODUCTION
Adapting to new technology is referred to the adoption of updated and advanced
technology in business. It is considered as one of the major business issue but some
organizations have reacted positively and some have reacted negatively. There are several
emerging technologies which are adopted by the organizations in today's era for accurate and fast
business functioning. Such as artificial intelligence and block chain technology along with the
virtual reality and internet of things (Graham, 2019). Moreover, the following discussion is based
on the positive and negative effects of issue on companies with proper conclusion and future
implications/ considerations.
Positive effects of issue on companies
Positive impact of adapting to new technologies on companies are such as it has
facilitated with the easier communication flow among the employees within the organizations
and outside of the firm as well. It supports in the improvement of business strategies which
results in an effective and efficient functioning of the company. Technology helps in amplifying
the business in terms of quality and fast responses to the dynamic environment. Technology aids
in widening the domains of advertising and promotion which assist in creating the awareness of
the brand in the market place (Coccia, 2019). Efficiency of operations is highly rendered by the
advanced technology because total quality management and just in time management along with
the inventory management and many more operational techniques required advanced technology
to support their function within the firm. Adapting to new technology makes the business
competitive in nature that leads to the provision of competitive advantage to the company with
proper data analysis and strategic decision making. This is done with the help of big data
analytics and security of the confidential and important information. Moreover, technology has
also focused on increasing the productivity and accuracy along with the security concerns as
well. It enhances and improves the research capacity and reduces the cost of the businesses
which facilitates the advertisement of the business. These are considered as the positive reaction
of the companies while adopting digital technologies in their organizations for positive impact on
their growth and development (Yang and Gu, 2021).
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Negative effects of issue on companies
Negative impact of adapting to new technologies on companies are such as it has resulted
in the decrement of face to face communication. This is because now a days everything is
happening virtually which sometimes results in the low effectiveness in communication flow
within the firm. Emerging technologies has also led to the hacking and stealing of business data.
This leads to the large data breach or losses due to some of the cybercrimes such as phishing and
malware along with the viruses and identity theft and many more. This results in the huge losses
or even shutting down of the company as well (Zelter, 2019). In today's era, there is a more of
dependency on modern technology which are resulting in more of illegal activities in computing
technologies. Security systems are expensive in nature but important to adopt in order to
safeguard the technical resources from any cyber attack. Training of employees is necessary on
how they can operate such technologies are time and cost inefficient in nature. Maintenance
problem is one of the major problem as it includes the frequent updates of the software and
cleaning of the useless data for effective and smooth working. This problem needs the process
which is trolling for the management. These are considered as the negative reaction of the
companies while adopting digital technologies in their organizations (Mentsiev, Khaliev,
Guzueva and Ashakhanova, 2020).
CONCLUSION
It is concluded that adapting to new technology is an important concept to learn and study
so that its applications can be applied in the real world organizations. This is because it is the
business issue which is emerging in today's era day by day. The reason being is that now a days
it is becoming impossible for the organizations to survive without adapting the new technology.
Therefore, it is essential to identify all the problems which is generated by adapting to new
technology so that resolution can be drawn out for better and effective functioning of the
companies. In order to have the efficient working within the firms, it is significant to recognise
the positive as well as the negative effects of issues on companies for better decision making and
future considerations. Hence, the above discussion covers all such aspects in order to have the
potential understanding of the new technologies in business. Talking about future implications,
there are advances in digital technologies, it will hold the pathway of economic growth and
productivity of the companies. It will help in creating the jobs and will assist in being the
technology freak which can aid and support the management and operations of the firms.
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References
Books and Journals
Coccia, M., 2019. Why do nations produce science advances and new technology?. Technology
in society, 59, p.101124.
Graham, L., 2019. Adapting to new technologies. In Soviet Social Problems (pp. 296-318).
Routledge.
Mentsiev, A.U., Khaliev, M.S., Guzueva, E.R. and Ashakhanova, M.Z., 2020, March.
Digitalization as a New Stage in the Formation of Economic Relations. In International
Scientific Conference" Far East Con"(ISCFEC 2020) (pp. 3096-3100). Atlantis Press.
Yang, F. and Gu, S., 2021. Industry 4.0, a revolution that requires technology and national
strategies. Complex & Intelligent Systems, 7(3), pp.1311-1325.
Zelter, D., 2019. Adapting a Business Communication Course to Market Needs. The Journal of
Corporate Governance, Insurance, and Risk Management (JCGIRM), 6(1), pp.1-9.
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