Technological Change and its Impact on Business

The provided content consists of academic articles and online sources related to technological change, business valuation, and supply chain management. The articles explore various aspects of technological change, such as its impact on public access to government information, international trade, and the decline in inequality in Latin America. Additionally, there are industry and company profiles for Alpha Manufacturing, a UK-based manufacturing firm that provides sheet metal fabrications and has over 100 employees with engineers and designers. The online sources discuss ways technology can improve businesses, increase productivity, and provide insights on technological developments in industries such as energy and environment.

Contemporary Development
in Business and Management

EXECUTIVE SUMMARY
Alpha manufacturing have implemented the technology with an aim to increase the
productivity and sales but it has issues in relation with employees motivations as all the
employees within the firm will not be able to adjust with the changes that management wants to
adopt. Technology is the greatest support in today's competitive world. Alpha manufacturing
company has implemented new technology to produce metal shelves and platforms, which needs
time and money both. It has become a defining force for people’s lives and it is relevance in
spreading it virtually in every field in either or different way. The analytical tool that is Porter's
five force can be used for understanding areas that require technical interference. Moreover,
several external factors that influence business environment must also be analysed for
understanding implications of technology.
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................4
2.1 Political..................................................................................................................................4
2.2 Economical............................................................................................................................4
2.3 Socio-cultural.........................................................................................................................5
2.4 Technological.........................................................................................................................6
2.5 Legal......................................................................................................................................6
2.6 Ecological (Environment)......................................................................................................7
2.7 Porter's five force model........................................................................................................7
TASK 2............................................................................................................................................9
1. Relevance to the organization and influence on policies and decision making within
company.......................................................................................................................................9
2. Critical evaluation of effectiveness of the organization's response.......................................10
3. Areas of improvement in the response of the organization ..................................................12
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................16
APPENDIX....................................................................................................................................18
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INTRODUCTION
Business development is often perceived as earning profits and recognition which is quite
incorrect. When a company experiences both internal and external progress then it is said to be
completely developed. In this report certain developmental aspects are elaborated with reference
to Alpha Manufacturing Limited. This company mainly deals in manufacturing and fabrication
of various metallic objects. PESTLE and Porter's five force models shall be applied to the
company's structure and functioning. Strategies and action plans can only be designed and
implemented when organisation has complete knowledge about internal and external
functioning. This report will cover all these aspects and help in evaluating impact and relevance
of technological change on functioning of Alpha manufacturing.
TASK 1
2.1 Political
Political environment is a part of macro business environment. There are certain policies
and regulations which are established by the government. Such regulations and legislations are
compulsorily followed by every business and non-business organisation. At times, government
has to make certain changes in laws for the benefit of the country (Bernstein, 2015). The impact
of political changes can be adverse or positive for Alpha manufacturing depending on the need
of situation. European Union Commission is the legislative body that has been functioning to
regulate activities of member states and their competitive businesses. '
All the political branches that is legislative branch, executive branch and judicial branch
supervise certain laws. Alpha manufacturing is a private sector company. Although it cannot be
completely governed by the company but it has to follow the legal structure that is devised in
UK. Hence, the company is subjected to political influences like changes in tax structure,
economic budgets which are annually declared and several competitive laws which are devised
by EU Commission.
2.2 Economical
Economic welfare is the major objective of Alpha manufacturing. It has been functioning
to provide great quality services and economic stability to the country (Gilpin, 2016). There are
certain components of economic factors that affect external business environment of the
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company. These include inflation, interest rates, exchange rates, trade restrictions, etc. Money is
a significant element when it comes to economic developments. Exchange of goods and
gathering of assets is possible due to presence of money. Entire financial system is dependent on
money. Prices of products and services are decided according to status of currency in the
international markets (Cavusgil and et. al., 2014). Alpha manufacturing can be subjected to
inflation that is rise in standard price when certain trade restrictions or economic policies are not
in favour of the company. Developmental speed is hindered due to this factor.
Another influence on company's strategies is felt when interests rates are increased.
Borrowing costs increase due to this change in economic structure of the country and hence, debt
amount increases. There is another element that is considered whenever economic factors are
referred that is export import rates (Kazlauskienė and Christauskas, 2015). Being a company
from manufacturing sector, Alpha Limited has to be cautious about changes in the value of
currency in global markets. This value becomes the sole basis of judgement in exporting and
exchanging of goods.
2.3 Socio-cultural
Culture is made up of the morale values and beliefs that have been existing since
foundation of civilisation. Consumers are the major part of the socio-cultural environment in
business organisations. The attitudes and behaviour towards a particular product affects
company's functioning and decision making process (Gouldson and Murphy, 2013). Alpha
manufacturing can apply Hofstede's cultural model to detect the effects and influences of various
cultural characteristics. It is made up of four dimensions that are: Power-distance: Basically, it is a parametric index which indicates the acceptance levels
of people that share limited or less power in the society. It also helps in judging
organisation's cultural acceptance towards these less powerful people. Individualism (IDV): Various functions in Alpha manufacturing are interconnected. This
connectivity brings in dependence of individuals over each other. IDV index helps in
understanding the level of importance a person gives to various functioning members that
are operating in the company together (Caganova, Cambal and Weidlichova Luptakova,
2015).
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 Uncertainty avoidance (UAI): Alpha manufacturing can judge the tolerance level of
society towards its products and services when UAI is calculated. This analysis is helpful
when considering main operations of the product.
 Masculinity/femininity: Business organisations are considered as the reflection of society
and its beliefs. Masculinity versus femininity is based on the division of roles amongst
the genders. This ratio will help Alpha to calculate whether equality is being practised or
not.
2.4 Technological
Alpha manufacturing being a fabrication multinational organisation has great support
from technology. Past two decades have witnessed various technological developments which
have supported the company in research and development. The speed of development is
increased when technological aid is received by any organisation irrespective of their area of
functioning (Zhang and Choi, 2014). Nanotechnology, advanced material, growth of high speed
internet, development in communications network and transportation have helped Alpha
manufacturing in meeting its aims and objectives effectively. The only thing that company has
been facing an issues is energy management and waste disposal.
2.5 Legal
Legal environment is made of national and international laws that are being practised as a
standard for business operations. Every company irrespective of their nature of ownership, has to
abide by these laws. Alpha manufacturing gets affected by the legal environment while making
choice of techniques in manufacturing, selection of materials, during advertising and promotion,
while making investments and in various other dimensions (Dobbs, 2014). Organisation's legal
environment is made up of civil law, common law, theocratic law and customary law.
Be it international, national or regional level, Alpha manufacturing has to obey the rules
that fall in the legal systems of these geographical areas. The products and services which are
produced by the company should obey and satisfy these laws and legal standards so that
competitors do not find this as an opportunity to exploit or engage Alpha in legal complications.
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2.6 Ecological (Environment)
Climatic changes have led business organisations to monitor and evaluate their activities
so that negative effects are not caused on environment. Manufacturing industry has a greater
responsibility when considering environmental balance (Nag, Han and Yao, 2014). Problems like
resource depletion, global warming, pollution, degradation, ozone layer depletion are necessarily
focused in environmental factors. Alpha manufacturing is in continuous scrutiny of
environmental specialists. The organisation must take steps that do not harm wildlife and natural
surroundings like water, trees and human beings. In order to attain sustainability the
considerations of environmental factors is very important.
Manufacturing companies use substances and materials that are not good for the
environment. When these substances are disposed incorrectly then harmful reactions take place
which results in pollution and degradation. Hence, Alpha manufacturing should make strategies
which are based on creating environmental balance.
2.7 Porter's five force model
Following analysis has been carried out on Alpha manufacturing according to Porter's
five force model:
1. Supplier power: Alpha manufacturing requires raw materials from various small scale
producers (About, 2017). These are termed as suppliers. Company can be in a good
situation in both domestic and international markets when supplier power is controlled
effectively. Vice versa situation can land the organisation into trouble. Greater
availability of suppliers means that organisation beholds a situation to bargain over prices
of raw materials.
2. Buyer power: Number of buyers helps in deciding buyer power for the company. Few
buyers can lead to higher bargaining and decreasing profits while more buyers gives a
positive situation for the company. It also reduces the amount of switching from one
brand to another.
3. Competitive rivalry: Alpha manufacturing is majorly a buyer to buyer company. It cannot
be possible that organisation doesn't have rivals in the market. The competency and
capabilities of rivals also acts a driving force in tough competition. Alpha manufacturing
has to hold a strong place when considering competitive rivalry. This can be possible
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only when resources are effectively utilised and managed. The complete set of products
and services must not be repetitive or lacking innovation. This can lead to loosing of
market share.
4. Threat of substitution: Changing demands and fluctuations in the market trends often
causes a threat of substitution for the company. Alpha manufacturing would face this
threat when the products and services which are manufactured in this company are not
compatible with the competitor commodities (Nag, Han and Yao, 2014). Moreover,
substitution also happens when quality standards are compromised by the manufacturing
company. Once customer expectations are not satisfied a situation of declining market
share is experienced.
5. Threat of new entry: Technology has increased exposure of people towards education
and learning methods. Abundance of learning resources has resulted in emergence of new
entries in the competitive markets. Innovative techniques of operations and
transformative ideas can threaten the position of well established industries. Hence,
Alpha manufacturing must be aware about all the new entries that are trying to establish
in the native markets. It will help in devising effective strategies.
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TASK 2
1. Relevance to the organization and influence on policies and decision making within company
Change in technology can be determined as an essential aspect within organization.
Ultimate aim of any firm is to gain maximum profit (Fu, Pietrobelli and Soete, 2011). This is
only possible when they will be able to understand their customers requirements and deliver their
services and products accordingly. With this respect, it is essential for the firm to make changes
in technology so that they will be able to deliver high quality services to customers. In this
context, Alpha manufacturing deals with different type of sheet metal fabrications. In order to
develop them, there are technological support that is required. There are different type of issues
that are faced by employees due to change in technology. With time there are many changes that
place in technology and in order to attain competitive advantage it is essential to make use of
new or updated technology (Popp, Newell and Jaffe, 2010). There are different set of changes
that take place in decision making within the organization. Below given are the changes in
decision making due to technological change:
Financial department: This is a type of department that makes sure that all the activities
that organization is willing to implement are enacted on time. When new technology is to be
used, then it has negative impact over decision making (Goos, Manning and Salomons, 2014). It
is essential that there is proper financial support so that new or updated technology is used
effectively and efficiently. When changes take place within Alpha manufacturing, then finance
play vital role. Further, when new technology is implemented, then there are cases in which cost
also increases in which it included new employees to be hired who will be able to make use of
new technology (Jaeger and Bertot, 2010). Further, it also includes miscellaneous expenses that
is caused due to implementation of new technology.
Training to staffs: Employees are the face of organization as they have direct interaction
with customers. They are one who develop the products and services and deliver it to customers.
With this respect, it is essential that there is proper understanding among employees in order to
make use of new technology (Black and Spitz-Oener, 2010). In this context, implementation of
new technology raise the requirement of providing workers with training. There are also cases in
which new workers are to be hired so that they will be able to support the firm by using new
technology.
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Production: Use of updated or new technology helps in improving the production level.
There are negative impact over the employees due to this change (Coenen and López, 2010).
With this respect, technology at Alpha manufacturing is helpful enough to produce steel sheets at
minimum required time. There are different departments that work together and when new
technology is used, then many workers are sent off as the total number of employees who were
required for the production become less and so this is a negative impact on employees.
Difficulty in affecting the change: When workers get adjust with the technology and the
working conditions that they were using (Bimber, Flanagin and Stohl, 2012). However, when
there is technological change, then it becomes difficult for some of the workers to understand
and adjust with the changes that cited firm implemented. The firm would have planned for
raising their productivity and so implemented the strategies. On the other hand, when it becomes
difficult for employees to adjust with the change, then it has negative impact over decision
making.
Improves quality: Implementation of new technology is made in order to make sure that
the quality that is being provided by Alpha manufacturing is improved. There are certain level of
quality standards that are maintained by the organization (López-Calva and Lustig, 2010). With
the use of new or updated technology, it helps the firm to make sure that the quality and total
number of production that is made by cited firm is raised. Further, the cost that was previously
incurred will get reduced. This is because the resources that are used for developing the finished
goods will be used optimally. This way the cost will be reduced and there are organization that
developed their customers with similar products. With this respect, when the cost is reduced,
then it will be helpful enough to develop a strong customers base (Leimbach, Bauer and
Edenhofer, 2010).
2. Critical evaluation of effectiveness of the organization's response
When there are technological change, it is highly beneficial for the organization in many
ways. However, there are also negative impact over the firm due to technological change. With
this respect, the Alpha manufacturing may have implemented the technology with an aim to
increase the productivity and sales but it has issues in relation with employees motivations as all
the employees within the firm will not be able to adjust with the changes that management wants
to adopt (Boschma, Balland and Kogler, 2014). With rapid growth in global trade, it is essential
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for the companies to implement changes as soon as possible. In this context technology can be
determined as a means to complete them all. In order to meet needs and requirement of
customers, it is essential to bring new type of products and services in the market. Below given
are the critical evaluation of effectiveness of Alpha manufacturing response:
Support: There are different set of roles and responsibilities that has to be performed by
employees. With this respect, there are cases in which workers find issues in relation with
performing certain set of work (Di Giovanni, Levchenko and Zhang, 2014). However, when new
technology is implemented, then it becomes helpful for employees as it delivers them with
proper support. When technology is implemented within the company, then it is essential to
make sure that they have proper interaction with customers so that they will be able to
understand the behavioural changes in workers due to implementation of new or updated
technology.
Operations: Implementation of technology is helpful to assist organization in order to
manage operations (Di Giovanni, Levchenko and Zhang, 2014). With the helpful to elimination
of actions that are not preferred by customers and it also enables to reduce the cost business
processes. However, the financial position gets negatively affected. This is because, there are
many sets of areas that has to be considered by the organization in order to implement any type
of technology (Boschma, Balland and Kogler, 2014). All the operation within the company gets
positively affected with the help of which they are able to deliver the firm achieve their desired
goals and objectives.
Challenges: With Alpha manufacturing, there are different type of challenges that are
faced by workers in day to day operations (Di Giovanni, Levchenko and Zhang, 2014). However,
when there is proper implementation of technology, it is helpful for the firm to make sure that
they develop proper coordination with other workers and perform effectively and efficiently.
Centralization: When there is advancement in technology, then it provides the
opportunity in making decision (Leimbach, Bauer and Edenhofer, 2010). Technology is helpful
enough to make use of logistics and centralized purchasing and also provides cost advantage
savings. It takes time for the employees to understand the change and to take proper steps
through which they will be able to develop their understand towards the technology. However,
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when employees get to know about it, then it becomes easy for the management to direct
worker's efficiency towards the desired goals and objectives.
From all the above points, it can be stated that use of technology is highly beneficial for
the organization but it is important for the management to make sure that all the information is
being conveyed to employees so that they will be able to get adjust with the change effectively
and efficiently. This is because there are cases in which workers face issues in order to accept the
changes but when there is proper interaction, then it becomes easy.
3. Areas of improvement in the response of the organization
Technological advancement have been improving in all the organizations and that leads
the business to encourage the opportunities of success and growth. In this respect, Alpha
Manufacturing Company is also required to focus more on technical aspects so that quality and
different products can be introduced at market place (Berque, Prey and Reed, 2006). Since, it is a
privately owned business fabricating metal sheets in UK; therefore it is essential for the business
to emphasize on bringing advanced and technological products for creating effective image at
market place. Alpha designs and produces both sheet metal work components and assembles
them as well. This aids the business entity to come up with several products that can meet
diverse needs of the customers. Several issues are happening in the organization afterwards
adopting new technologies such as financial constraint and lack of employee support.
It is an apparent fact that employees usually resist accepting changes as they are highly
comfortable with the existing work processes and job roles (Using Technology to Increase Your
Business Productivity. 2017). In the present case, Alpha manufacturing company has
implemented new technology to produce metal shelves and platforms, which needs time and
money both. In using the technology, employees are required to ensure that metal pieces are
properly crushed because the new machine do not accept other metal pieces. Henceforth, this has
enhanced the time limit of employees and as a result, they are feeling overburdened. Most of the
workforces are not ready to adopt the technological change as they find it time consuming which
hampers their other roles. Therefore, in order to improve the same problem, it is crucial for
Alpha manufacturing company to import crushed metal so that employees can handle all the
things in effective way. Technology refers to the application of scientific knowledge for practical
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purposes, especially in industry. In the current scenario it plays very important role as
development is only possible with the help of technology (Aburime and Uhomoibhi, 2010).
This would not only minimize the efforts of employees; but also it will assist them to
produce appropriate products and services. Similarly, purchasing crushed metal pieces would
also assist Alpha manufacturing company to save money which could be used for other
operations and activities. Accepting technological change is not as easy as seems as it requires
talented and skilled employees who can handle company’s work processes. Therefore, it can be
said that Alpha manufacturing company needs to invest in training sessions so that employees
can learn several methods to perform all their roles and responsibilities (Berque, Prey and Reed,
2006). Training is not only essential for employee development; but also it helps them to perform
all the organizational duties in effective way. The world is moving around technological aspects;
hence Alpha manufacturing company is also to impart training to the workforce.
This is essential for encouraging success and profitability of the company and along with
that, competitive advantage of the business entity can also be increased (3 ways technology can
improve your business. 2015). Thus, it is clear that business should pay adequate concern
towards technological facets so that required changes could be implemented in proper way.
Apart from this, Alpha manufacturing company should also focus on utilizing financial resources
in optimum manner so that resource handling capacity of the business could be enhanced. With
the help of such facet, Alpha manufacturing company needs to allot financial resources in such a
way so that it can bring more investment opportunities for organization. In terms of areas of
improvement, Alpha manufacturing company should also make suitable budgetary system so that
profitability aspects of business could be improved (Aburime and Uhomoibhi, 2010).
Along with this, new tools and software can also be utilized so that business can
maximize its productivity and performance facets. Increased business productivity can be traced
to enhance the processes which can also meet strategic requirements of Alpha manufacturing
company. Besides this, while bringing any of the change, Alpha manufacturing company needs
to ensure that employee advice and opinion is being included because that significantly enhances
decision making capability of the organization (Attewell and Steel, 2003). Furthermore, up to
some extent, it can also minimize the probabilities of issues and constraints. Organizational
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processes and policies should be strengthened so that all the business activities could be suitably
managed. From generalized point of view, there should be open communication
In today's fast paced world, business entities are required to find time and resources for
true innovation because unavailability of all such resources can be fatal shortcoming for business
survival. Technology has become a defining force for people’s lives and it is relevance in
spreading it virtually in every field in either or different way. It plays a crucial role in enhancing
the efficiency of business entities and also makes them competent enough to contribute efforts in
organizational productivity (Berque, Prey and Reed, 2006). This is essential for the purpose of
enhancing prosperity aspects of the business organization. Further, employers (Alpha
manufacturing company) needs to focus on motivating the employees so that they can give their
consent to adopt the newly technological facets.
It is also suggested to the business to adopt suitable risk management procedure as
extensive use of technology sometimes hampers the business capability and employee’s work
profile as well. Risk assessment is effective not only for protecting the employees from hazards;
but also bringing more opportunities of growth and prosperity (Chandra, 2005). Henceforth, it
can be said that for better productivity and performance, Alpha manufacturing company should
develop the technological reach of the business entity. Moving on to recommendations, Alpha
manufacturing company is suggested to monitor the business activities on continuous manner so
that the efficiency of business practices can be identified. Along with this, there should be much
concern towards employee welfare so that they can be retained with the organization for longer
time span. Therefore, all the organizational practices could be managed effectively through
adopting the above mentioned changes in the business dimensions (Using Technology to
Increase Your Business Productivity. 2017). Lastly, it can be said that Alpha manufacturing
company must ensure that technological issues are prominently addressed.
CONCLUSION
From this report, it can be articulated that within the business operations, there are
different set of problems and issues that are faced by workers and management. Main aim of
companies is to gain maximum profit. For this purpose, there are certain roles that has to be
played by the management. In this context, it is important for the firm to conduct internal and
external analysis as it enables the organization to understand where they stand. Further, there are
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different aspects that are identified by the firm in which they should take proper steps with the
help of which they will be able to develop strong relationships with customers. Further, research
and survey should be conducted that will enable to the organization to understand the needs and
requirement of customers. Accordingly, changes in products and services should be made so that
they will be able to develop strong customer base.
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REFERENCES
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Education & Technology Journal. 4(1). pp.4 – 16.
Attewell, P. and Steel, N. M., 2003. Disadvantaged Teens and Computer Technologies.
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Berque, A. D., Prey, J. and Reed, H. R. 2006. The Impact of Tablet PCs and Pen-based
Technology on Education: Vignettes, Evaluations, and Future Directions. Purdue
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Di Giovanni, J., Levchenko, A. A. and Zhang, J., 2014. The global welfare impact of China:
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Gouldson, A. and Murphy, J., 2013. Regulatory realities: The implementation and impact of
industrial environmental regulation. Routledge.
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Jaeger, P. T. and Bertot, J. C., 2010. Transparency and technological change: Ensuring equal and
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APPENDIX
Industry profile
Alpha manufacturing belongs to the manufacturing sector in UK. This industry has been
contributing greatly to the economic development of the company. It holds 11th position in the
domestic markets and about 54% of entire exports are under this sector. Major technological
developments have led to greater increase in profitability and efficiency of this sector. 2.6
million people are currently employed in the manufacturing sector which has automatically
decreased unemployment rates in the country. Moreover, the growth rate of this industrial sector
is about 2.4% annually.
Company profile
Alpha Manufacturing is headquartered at UK and delivers their customers with sheet
metal fabrications. In this context, there are different range of sheet metalwork service that
includes MIG Welding, CNC Metal Turning, CNC Metal Punching, etc. This firm was
established in the year 1989. Further, there are about more than 100 employees who focus on
engineers and designers. Further, cited firm has the facilities to manufacturing diverse range of
products, designing, and prototypes. Further, they also provide their customers with the
opportunity to design as per their preferences.
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