Adapting to New Technology: Business Issue Report

This report discusses the business issue of adapting to new technology, including the challenges and benefits. It also covers how companies are reacting to this issue, both positively and negatively, and provides recommendations for organizations. Additionally, the reflective writing section discusses the importance of learning and how it can be applied in future studies and development plans.

Academic Research
and Writing

Table of Contents
Part 1: Report...................................................................................................................................1
Introduction............................................................................................................................1
Overview of the issue.............................................................................................................1
How companies are reacting – positively or negatively?.......................................................2
Conclusions and Recommendation........................................................................................2
Part 2: Reflective Writing................................................................................................................3
Learning from the module......................................................................................................3
What can be achieved with the new knowledge.....................................................................3
How is the learning going to be of use in future studies and development plans?.................3
Part 3: Personal development Plan..................................................................................................4
References........................................................................................................................................5

Part 1: Report
Introduction
Business issue can be defined as the business problems which are considered as the
current or long term challenges faced by the organizations. These are issues which hinders the
business from implementing their strategies. It leads to difficulty in survival of the firm and also
to achieve the objectives as well (Borowski, 2020). There are various business issues which are
faced by companies on a current basis. These issues are the adapting to new technology,
environmental sustainability and workforce planning. The chosen issue for the current report is
the adapting to new technology. The following reports covers the aspects of issue and how the
companies are reacting with conclusion and recommendation.
Overview of the issue
Adapting to new technology is one of the major issue which are faced by many
organizations. This is because the concept of adopting the advanced technology is essential for
the survival of the business. The reason being is that it helps the companies to reach up the next
level of its management and operations within their business. It makes the functioning and the
working of the business more easy and simple along with the accuracy and rapid execution of the
tasks as well. It supports in maintaining the good market reputation and big data management as
well which aids in the strategic decision making also. It further assist in the overall tactics and
future predictions as well. The issue faced by the business regarding technologies are such as low
awareness and to identify the most suitable technology to adopt with time and cost efficient
methodology. New technologies are difficult to adapt because it requires the proper training and
development to employees of how to use the technology. Moreover, now a days issue of cyber
crime is more in a trend. Such as data breaches and losses along with the identity theft and
phishing results in the bad reputation of organizations and also the great losses as well.
Furthermore, initial implementation of new technology is difficult due to the high cost of
installation and maintenance. It also create the issue of understanding the concept of new
technology which further requires time and energy for the same (Bouncken, Kraus and Roig-
Tierno, 2021).
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How companies are reacting – positively or negatively?
There are some organizations who have adopted the advanced technology in order to
simplify their working and operations. For example, some of the emerging technologies which
are adopted by the organization are such as the artificial intelligence, big data analytics, block
chain technology, internet of things and many more. Some organizations have reacted positively
and some have reacted negatively. For example, some organizations have gained the better
efficiency and effectiveness in terms of their cost and time along with the customer satisfaction
and long term relationship with the stakeholders. Other positive reactions are such as the
organizations have also gained the competitive advantage with potential remote working benefits
from any where and any time. Moreover, robust workflows and have also acquired the position
for future development and opportunities. On the other hand, some organizations have reacted
negatively. For example, some organizations are just adopting new technologies just because it is
new without knowing the fact of their usage. Due to the lack of skills and knowledge of
advanced technology, companies are facing difficulties in implementation of right system with
right procedures. Because of of the inadequate training of staff in utilizing the new technology,
companies are failing to win employees over to the new technology. Firms are also facing
difficulties in monitoring their big data due to the access control problems and cyber security
systems as well. These are some of the negative reactions of organizations while adapting the
new technologies (Lee, Suh, Roy and Baucus, 2019).
Conclusions and Recommendation
It is concluded that adapting new technology is an important action that is to be
performed by the organizations. This is because survival in the current industry is next to
impossible without adopting any advanced technology. Therefore, it is essential for the
organizations to investigate about types of technologies and how they will benefit them in their
operations and what challenges they can face with it. Hence, the above report covers all such
aspects in order to better understand the conception of adapting the new technology. This
business issue is crucial to get resolved. Therefore, it is recommended that the organization must
first conduct the entire feasibility study. It includes the proper budgeting and identification of
technology to be adopted which can provide maximum efficient to the firm. Company must
focus in the rendering the proper training and development to employees so that the technical
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resources can be utilised as a whole in an effective manner. Proper cyber security systems must
be installed do that big data management can be potential within the firm (Sheel and Nath, 2019).
Part 2: Reflective Writing
Learning from the module
I have completed the report on business issue based on the adapting to new technology.
This has led me a lots of learning and provided me with the knowledge of business. I have learnt
the current issues faced by several business and how it can be mitigated with their benefits and
challenges as well. Moreover, I have also gained the research skills and written communication
skills along with the problem solving behaviour and cognitive skills as well. These are the skills
and knowledge which I have acquired from the completion of the report on business issue
(Williams, Woolliams and Spiro, 2020). Importance of learning includes that all the learnings I
have gained has the importance. This is because gaining knowledge about the technology is
important now a days. It provides the analytical skills which are not only helpful in the academic
career but also in the professional career as well. Academic skills will help in improving my
professional skills and experiences. It will support in making the better standard of living while
having such abilities and knowledge about the business world and the technologies (Sweet, Bass,
Sidebotham and Graham, 2019).
What can be achieved with the new knowledge
The new knowledge gained from this module is the researching about the different
business issues and choosing the most relevant one. Such issues are addressed in the report while
collecting the data on several businesses facing problems and how they can resolve such issues
with proper strategies and solutions to implement. I achieve several things while conducting this
investigation and gaining of knowledge through that. Such as business ideas and business
knowledge along with the business problems and business resolutions. This knowledge can
provide me with the achievement in my academic career as well as in my professional
curriculum also. I can also lead the team and direct or assist with the tactics of business issues
and its resolving nature in an effective and efficient manner. I can potentially achieve the
management skills within organizations in a practical manner (Cheng and Chan, 2019).
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How is the learning going to be of use in future studies and development plans?
Learning from the module of business issue and adapting to new technology is of high
use in future studies and developmental plans. This is because such knowledge and skills gained
can help in identifying the proper stages of career growth and development. It can help in
choosing the area of interest and where I have to direct my career and in which field I have to
follow up my plans. Such stages of developmental plan will clearly recognised after learning
from the report. This can clarify me and avoids confusion related to my career and profession I
have to choose for my occupation. Based on this my entire life will get sorted and will support in
proper growth and development not only professionally but also the personal development as
well (Ono and Ichii, 2019).
Part 3: Personal development Plan
Academic Skill Action Future Implications
Communication skill To improve the written as well
as the verbal communication
skills, it is important to daily
practice on any random topic
to speak for about two minutes
on an instant basis just like
extempore. Similarly, write on
the same topic after
investigating with relevant
content which will also
improve the research skills
also.
This will help me in proper
interaction with the people and
gaining of relevant knowledge
in terms of the respective field
of study.
Time management skill To improve the time
management skills, it is
important to formulate the
strict schedule and follow it
with proper maintenance until
This will help me in meeting
up the deadlines and also being
punctual so that any task
assign can be accomplished in
a timely manner.
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and unless it is achieved with
proper deadlines.
Problem solving skill To improve the problem
solving skills, it is important to
solve the quantitative
questions so that the mind can
gain analytical skill. This
increases problem solving
behaviour with the ability of
cognitive skills as well.
This will help me in
developing the calculative
mind and planning the
strategies of any project with
proper risk management.
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References
Books and Journals
Borowski, P.F., 2020. New technologies and innovative solutions in the development strategies
of energy enterprises. HighTech and innovation Journal, 1(2), pp.39-58.
Bouncken, R.B., Kraus, S. and Roig-Tierno, N., 2021. Knowledge-and innovation-based
business models for future growth: Digitalized business models and portfolio
considerations. Review of Managerial Science, 15(1), pp.1-14.
Cheng, M.W. and Chan, C.K., 2019. An experimental test: Using rubrics for reflective writing to
develop reflection. Studies in Educational Evaluation, 61, pp.176-182.
Lee, J., Suh, T., Roy, D. and Baucus, M., 2019. Emerging technology and business model
innovation: The case of artificial intelligence. Journal of Open Innovation: Technology,
Market, and Complexity, 5(3), p.44.
Ono, A. and Ichii, R., 2019. Business students’ reflection on reflective writing
assessments. Journal of International Education in Business.
Sheel, A. and Nath, V., 2019. Effect of blockchain technology adoption on supply chain
adaptability, agility, alignment and performance. Management Research Review.
Sweet, L., Bass, J., Sidebotham, M. and Graham, K., 2019. Developing reflective capacities in
midwifery students: Enhancing learning through reflective writing. Women and
Birth, 32(2), pp.119-126.
Williams, K., Woolliams, M. and Spiro, J., 2020. Reflective writing. Red Globe Press.
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