Exploring the Role of Technology in Modern Business Management

This essay examines the role of technology in business management, highlighting its strengths, such as facilitating fast and cost-effective communication, and weaknesses, including high costs for startups and potential deskilling of employees. It references Max Weber's social change theory, emphasizing empathetic understanding and the influence of social structures on human action. The essay also explains product technology and artificial intelligence, concluding that technology is crucial for business development, enabling expansion into local and international markets and contributing to the development of new products and increased revenue. This document is available on Desklib, a platform providing study tools for students.

BUSINESS MANAGEMENT
Explaining the types of technology
• Product technology:
• It is a particular technology that is used by the manufacturer
for making the quality product
• Artificial Intelligence
• It is a combination of computer and technology
• Moreover, it is a tool created by a human being using various
programme and codes.
Strength, and weakness of technology
• The strength of business technologies is that it
allows fast communication with the client as it is a
very cost effective compare to direct contacting.
• This also helps organization in communicating their
goals and objective to
• weakness of technology is that it is very expensive
for start-up business. In addition, to this it also
reduces the talent of employees as they will stick to
the software
Max Weber- Social change theory
• Max Weber is father of sociology that has define various theory
that are based on both structural and action approaches that are
necessary for developing the and understanding .
• In this theory firstly it has been argued that empathetic
understanding is very necessary for understanding the human
action and social change. Thirdly, it has been argued that there
is structure shape human action because every society or
encourage certain type of changes in the society.
INTRODUCTION
Business management can be defining as the process of
managing business activities such as organizing and
planning that are required for running the business
efficiently.
Whereas, technology can be defining as the set of
techniques and skill that help in producing goods and
services more effectively.
CONCLUSION
From the above report it has been concluded that technology plays very important role
in developing the overall business. It has allowed the organization in expanding their
business in local as well as international market.
The technology has also helped the business in developing the new product that has
contributes in increasing the overall revenue of the firm.
REFERENCES
• Haenlein, M. and Kaplan, A., 2019. A brief history of artificial intelligence: On the past, present, and
future of artificial intelligence. California management review.61(4).pp.5-14.