Impact of New Technology on Performance of Organisation
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Added on 2023/06/18
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This essay discusses the impact of new technology on the performance of an organization, different types of technology that can be beneficial for a company, and the advantages and disadvantages of e-commerce and social media platforms.
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Table of Contents INTRODUCTION...........................................................................................................................3 MAIN BODY..................................................................................................................................3 CONCLUSION AND RECOMMENDATIONS............................................................................6 REFRENCES...................................................................................................................................8
INTRODUCTION It is important for an organisation to apply new machines and make unique products so that they can satisfy needs of customers. It will also help in achieving goals and objectives of company and good quality products can be delivered to customers (Aslani and et.al., 2019). Nowadays, new technology is coming in market and competition is increasing. So, if an organisation wants to earn more profit, then they have to apply new machines and make good quality products. In essay, impact of new technology on performance of organisation is described and different types of technology which is beneficial for company. E- commerce and social media platforms, their advantages and disadvantages are discussed and how it is useful for companies. MAIN BODY Adapting to new technology Nowadays, competition is increasing in the market and new technology is coming in market which can be used by managers for growth of company. To adapt new technology means to apply new machines or make some changes which will help in growth and development of an organisation. Customers want new and innovative products; promotion of product should be new way and latest technology must be used. It is important to adopt new technology so that needs of customers can be satisfied and it will help in gaining competitive advantage. When new machines or ways are applied by managers in company then it helps in motivating employees and boost their confidence (Cozzolino, Verona and Rothaermel, 2018). Managers should make plans or strategies after determining needs of customers because it will be easy to attract people. There are new ways for promotion of product such as, social networking sites which includes, Facebook, Instagram, Twitter, etc. Advertisement should be given on social sites and this is the best way to attract people and help in capturing wide area. This will help in increasing sales of company and more revenue can be generated. When new machines are applied or unique ideas are used the it will help in making good quality products and improve overall performance of company. This will help in improving effectiveness and employees will work efficiently. Impact of technology on performance of organisation When new technology is applied by managers then it affects performance of company. Technology has positive impact on performance of organisation and it helps in increasing
efficiency of employees. In this digital world, it is important to apply new machines and find different ways to satisfy needs of customers as well as of employees. When new machines are being used by a firm then it reduces burden of workers and they will work efficiently. There are some advantages of technology for organisation such as, it helps in getting relevant information, saves time of managers, ease of mobility, saves money of firm (Ersoy-Babula and Babula, 2018). There are many ways to communicate, banking sector is improving, new learning techniques, motivate employees to suggest innovative ideas. This will help in increasing overall efficiency of company and boost morale of employees. In many companies, work is being done through online mode or laptops, which is flexible for workers and they will work efficiently. Technology reduces burden of members and helps in satisfying their needs, all work is being done with the help of software. So, technology has positive impact on performance of organisation and helps in increasing profit of company. This will help in improving productivity of firm and more revenue will be generated. Types of technology There are some new and trending technologies which can be used by companies for growth of firm and better plans can be made to earn profit. Nowadays, competition is increasing and it is important to apply new machines so that performance of company will be improved and goals can be accomplished. Some new and trending technology are: Artificial intelligence and machine learning Artificial intelligence refers to simulation of process of human intelligence with the help of machines or technology such as computer system. It includes system, expert language processing, machine vision and other activities ((Sánchez-Perilla and et.al., 2019)). There are four types of artificial intelligence, reactive machines, limited memory, theory of mind and self – awareness. Machine learning is a method of data analysis which helps managers in taking good decisions and better plans can be made for future. Robotics process automation Robotics process automation means to technology which helps in building, deploy, and managing software. It helps in increasing productivity of company and increase efficiency so that good products can be made. It enhances accuracy and increase security within the workplace.
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Technology helps in providing more opportunities for growth of firm and enhances customer service. Communication technology Communication technology means to interact with people and take decisions. In an organisation there are many departments and it is not possible to communicate with all employees and if there is some urgent work the they can call and solve issue. Nowadays, phones are available and it has many new features. This helps in proper flow of information within the organisation and work can be completed on time (Wanchai and et.al., 2019). Issues face by companies When applying new machine or technology, managers have to face many challenges or problems. It is not easy to apply new technology because it requires huge investment and training is to be given to employees so that they can work properly. Competition is increasing so managers should make plans or strategies which is beneficial for growth of company. Some issues which managers will face while applying new technology are, information security, cloud computing, risk management and governance, regulatory compliance, change in rules and regulations, resource management, technology integration and upgradation (Kee and Rubel, 2021). These are some issues which an organisation has to face and managers should try to find solutions of these problems. They should use social media tools for advertisement such as, Facebook, Instagram, Twitter and other sites for promotion of products. It is important to make plans for future growth and development of company. Sometimes, managers are not able to arrange resources and this may create issue in firm. It is difficult to manage risk and make strategies which is beneficial in increasing profit. E – commerce E- commerce means electronic commerce means to buy and sell products through online mode. In this digital world, all work is being done with the hep of online apps and it is beneficial in growth of organisation. It is the responsibility of managers to identify choice of customers and according to that plan should be made so that more people can be attracted and it will help in increasing profit. Nowadays, companies are providing online shopping facility and payment is made with online apps (ÖZSUNGUR, 2018). This is simple and easy way for customers to buy goods and they get discounts. To attract people organisations, provide products at low cost or
offers are given like, buy 1 get 1 free, flat 20 % off. These are some ways by which more customers will get information about new product and helps in promotion of product. Buying and selling goods or services online is easy for customers and it will help in earning more revenue. Social media platforms Social media platform is one of the latest techniques which is used by most of the companies for promotion of their product. This help in increasing sales and more profit will be generated. There are many social networking sites such as, Instagram, Facebook, etc, which can be used by companies to attract more people and this will help in increasing sales of company. It is important to make strategies for promotion of product and new ways must be adopted by a firm so that more customers are attracted and it will help in gaining competitive advantage. Advertisement should be given on social networking sites for increasing sales and people are more active on these sites and they want new and innovative products (Saebi, Lien and Foss, 2017). Social media will help in identifying choice of customers because they are sharing their views which help managers in making products. Before implementing plan, it is necessary to determine choice of customers and it will help in making new and innovative products. CONCLUSION AND RECOMMENDATIONS Fromtheabovediscussionitcanbeconcludedthat,organisationsmustapplynew technology so that they can manufacture good quality products and satisfy needs of customers. Technology helps in increasing revenue of firm and improves overall productivity of company. It also helps in improving efficiency of employees and they work efficiently to accomplish goals and objectives. Different types of technology such as, artificial intelligence, robotics process
automation, virtual reality and communication technology. Further, issues face by companies like, resource management, competition, rules and regulations has been discussed. Recommendations for company are, managers should stay updated and make changes according to requirement of customers. Advertisement should be given on social networking sites and it will help in growth of company. New technology should be adopted by managers of a firm so that they can make good products and provide services to customers. Managers must face issues and find innovative solutions to face problems.
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REFRENCES Books and Journals Aslani, A., and et.al., 2019. Energy-efficiency technologies in the building envelope: Life cycle and adaptation assessment.Journal of Building Engineering.21. pp.55-63. Cozzolino, A., Verona, G. and Rothaermel, F. T., 2018. Unpacking the disruption process: New technology,businessmodels,andincumbentadaptation.JournalofManagement Studies.55(7). pp.1166-1202. Ersoy-Babula, A.I. and Babula, M., 2018. Learning on the move business students’ adaptation of virtual learning environment and mobile device technology.The International Journal of Management Education.16(2). pp.321-326. Kee, D. M. H. and Rubel, M. R. B., 2021. Technology adaptation is on its way: the role of high involvementworkpractice.InternationalJournalofBusinessInnovationand Research.25(1). pp.35-50. ÖZSUNGUR, F., 2018. Adaptation Approach to Technology Transfer Strategy.Afro Eurasian Studies.7(1). pp.134-178. Saebi, T., Lien, L. and Foss, N .J., 2017. What drives business model adaptation? The impact of opportunities, threats and strategic orientation.Long range planning.50(5). pp.567-581. Sánchez-Perilla, A. L., and et.al., 2019. November. Information technology models for the adaptation of the production processes. InJournal of Physics: Conference Series(Vol. 1403, No. 1, p. 012020). IOP Publishing. Wanchai,P.,andet.al.,2019.ITAdaptationPatternstoEnterprise-wide Systems.Communications of the Association for Information Systems.45(1). p.15.