Advanced Business Research: Technology Adoption in Business

This report delves into advanced business research methods, focusing on the adoption of technology within businesses. It begins by analyzing potential research problems related to technology adoption, appraising these problems, and establishing relevant research objectives. A comprehensive literature review examines the benefits and disadvantages of integrating technology, evaluating existing research and theoretical approaches. The report then outlines appropriate research methodologies, justifying the chosen approach and designing a suitable methodology to address the research objectives. Finally, a research proposal is developed, including techniques for both quantitative and qualitative data analysis, culminating in a research question. The study highlights the importance of technology in gaining a competitive edge, while also acknowledging the associated risks, and proposes solutions for overcoming these challenges. The report underscores the critical role of technology in modern business operations and the need for careful consideration of both its advantages and disadvantages.

Running head: ADVANCED BUSINESS RESEARCH METHODS
Advanced business research methods
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ADVANCED BUSINESS RESEARCH METHODS
Table of Contents
Introduction.......................................................................................................................................3
1. Critically analyze potential business research problems...............................................................3
1.1 Appraise business research problems..........................................................................................4
1.2 Develop appropriate research objectives and justify their choice...............................................4
2. Critically review literature on a business research topic...............................................................4
2.1 Benefits of adopting technology in business:..............................................................................5
2.2 Disadvantages of adopting technology in business:....................................................................6
2.3 Evaluate literature relevant to the research problem and objectives...........................................8
2.2 Critically analyze different theoretical approaches to the research problem............................12
3. Design business research methodologies....................................................................................14
3.1 Critically evaluate appropriate research methodologies in terms of the research objectives....14
3.2 Design an appropriate methodology in terms of the research objectives..................................15
3.3 Justify the methodology selected in terms of the research objectives.......................................17
4. Develop a research proposal.......................................................................................................18
4.1 Propose techniques for use with quantitative and qualitative data............................................18
4.2 Creating research question........................................................................................................19
Conclusion.......................................................................................................................................19
References.......................................................................................................................................20
References.......................................................................................................................................20
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Introduction
Business research method is helpful for processing the collection of determining a
product that can satisfy particular needs of the consumers. In the present study, a research study
has been conducted on the technology and innovation adopted by a business. In this regards,
potential business research problems related to the adoption is discussed along with appraisal of
the issue. In addition, a critical literature review on the research topic is carried out in the study.
Apart from these, a research proposal is developed with proposal of quantitative as well as
qualitative data and other suitable methods of research methodology.
1. Critically analyze potential business research problems
The sheer pace of technological development in the business is overwhelming that seems
to have many products to select. There are several products and pressures of new technology
adoption that can easily cause organizations to make mistakes and overlook issues. The business
has come to rely on specific technology keeping them up-to-date as well as compete in the
market for getting inspired by innovation (Bryman and Bell 2015). On the other hand,
technology becomes integrated and used in order to manage inventory and communication way.
Adoption of technology would be helpful to provide competitive advantages. However,
there are some limitations of using technology in business. It cost expenses for adopting
technology. Additionally, security issues are involved with the use of new technology. Hence,
some people are part of final creation. In addition, distractions may be generated for adopting
technology in business.
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1.1 Appraise business research problems
In order to remain competitive in global economy, businesses require adopting an ever
changing environment in order to encounter requirements of the customers. Staying competitive
in business evolve as a business organization as well as making changes in the procedure as well
as technology in order to obtain competitive edge over their competition. Additionally, the
organizations need to adopt new technology as well as managing challenges, which goes along
with implementation of the changes (Joe Jr et al. 2014). However, changes in nature can be
helpful to provide important advantages to the organizations. Present challenges that require to
be managed and give positive results. The issues arise when the enterprises make an attempt
bringing in new technology without appropriate management and training for the staffs.
1.2 Develop appropriate research objectives and justify their choice
Following are the research objectives that need to be fulfilled in the research.
 To identify the factors that are responsible for gaining competitive advantages in
business
 To critically analyze the benefits obtained for adopting technology in business
 To critically evaluate the risks related to the adoption of technology in business
 To recommend solution for overcoming the risks
2. Critically review literature on a business research topic
Technology can
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2.1 Benefits of adopting technology in business:
Technology is a modern concept which involves accepting the various innovations in
science to address in the business solutions. This helps in the creation of a better and an
automated solution. Although, the most important benefit in the use of the features of technology
in business is efficiency in productions, there are several other benefits of its applications as
well.
The first benefit in the application of technology in business is the increase in speed of
the process. This reduces the time required for addressing the business processes and saves time.
This is the most important uses of technology which is also adopted by the small businesses for
competing against the large ones (Brinkmann 2014). For example, emails are a new way of
doing businesses which has totally changes the way of communications. The past era included
communicating via telephone or mail which was a time consuming process. The use of email or
video calls has greatly enhanced the operations in businesses.
The next benefit is the storage enhancement which has also made great innovations in the
business processes. For example, in the past times, the businesses stored their data in large
physical files which made it a great problem for storing vast data. Now-a-days, the use of a
database or the cloud solutions has totally made the storage applications easier. In addition, the
use of secondary storage devices are also another innovations that have been applied in business
processes to make it easier for storing information in the offline mode.
The third benefit is the improved reach of businesses. This has made potential businesses
reach out to the vast number of audiences in each and every part of the world. The past workings
of businesses included applying for marketing aspects to gather insights from an area and then
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get revenue accordingly. The process was a very long one which involved sending a considerable
amount of time to get insights from the audiences and then applying the gathered insights
accordingly to get sales. Now-a-days the use of technology can be adopted from the internet
where a company or business can get insights and advertise to millions of potential buyers across
the globe (Avineri 2017). Social networking sites or search engine sites offers people to target
audiences based on their preferences and get the required amount of sales. This has also
simplified the way of doing business and has led to reduction in the cost of business.
The last benefit is the automation of business processes. The adoption of technology in
all kinds of businesses has made the successful automation of the processes which has removed
the need for human interactions. For example, any kinds of production factories in the recent
times uses the various methods and tools for automating their business processes with minimal
human interactions. In addition, the sales function of a business can be done by using software
for the process which can be used to get the required processes. This also helps them to reduce
the labor costs and address accordingly.
2.2 Disadvantages of adopting technology in business:
There are various effects of adopting technologies in businesses. Although this helps in
referencing to various needs, the effects that it poses can be dire and sometime may lead to grave
threats in the operations.
The first disadvantage is the increased in expenses. The adoption of technologies has
made several optimizations which have led to the increase in expenses. These expenses are
mainly due to the purchase of the initial equipment for using in their businesses. In addition, the
maintenance of these equipment also increases the total costs which affects the revenue made
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extremely. Moreover, as a technology needs to stay updated to the modern times, the need for
updates are necessary. This also increases the time and the resource for the technologies which
causes a negative impact in the business operations.
Security is the next disadvantage which exists during the adoption of technologies in
businesses. Cybercrimes are a much discussed concept and the need to address them is also
necessary (Fellows and Liu 2015). According to recent reports, the use of hacking tools can be
implemented to get unethical access to a system (Rubin and Babbie 2016.). This increase the
problem faced and thus causes grave threats to the business operations. This can also be used to
steal the information from these systems. In cases like this, a company or business organization
faced with a security threat faces extreme loss of business, fines or even lawsuits. In addition,
according to recent reports, young people belonging to the age group of 21 are found to be
associated with cybercrimes which have led to various problems for industries affected.
The next disadvantage is the need for staying connected all the time. This involves the
need for staying connected to the internet of the network all the time. In case of any problems in
the central network, all the other places will be affected too. This will cause problems and the
regular business operations will be affected (Gioia et al. 2013). This also increases the stress in
the system to be able to stay connected all the time. In addition, the overall cost for the system
also increases which leads to grave problems in the business processes.
Customer effects are the next disadvantage in the use of technology. As the use of the
technology can be used to gather more insights from an area, the use of it can also lead to
problems in the minds of the customers. For example, a customer may not adhere to the new
ways of doing their task and may see this in a negative aspect. This reduces the brand awareness
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in the area concerned and ultimately leads to reduction of business. For example, in case of
online bill payments, the traditional methods involved going to the branch centers and depositing
the bills (Greenfield and Greener 2016). The new ways involves paying the bills by using the
debit or the credit cards or even using net banking processes. This can also be a bit problematic
as not every people can adhere to these processes.
2.3 Evaluate literature relevant to the research problem and objectives
The main aim work of technology is innovation of the business and promotes the growth
rate. But the building owners and the business owners have to keep in mind and consider their
position of business in area of rewards and also maintain the risk factor when the building
owners and the business owners adopts the technologies that are emerging at a fast rate (Joe et al.
2014). The new technologies that are emerging are to be implemented by facility management in
an organization which emerges to take risk by the organization with the emerging solutions. To
minimize risk in an organization is a smart approach and the organizations of facility
management which manages the risk with innovation can have significant rewards that are
leaping ahead in the competition market.
The profitability and the growth of an organization are enhanced by adopting all the new
technologies and can even have a transform in the business for making the business better. With
the adoption of new technologies in businesses, the rate of risk also increases. With the
advancement of analytics in big data and also in system of business management, the cost of all
the processes and increase in gain can be done by organization of all the industries (Lazar et al.
2017). This decision is very critical and crucial for the business leaders and the project partners
who are involved in the project so that they can work methodically and strategically. The
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businesses price can be reduced by these innovative technologies. These innovative technologies
also help to lower the barrier for entry, changes in the strategy of market and help to transform
the culture and the processes. All these activities can be done by technologies that include cloud,
simulation, platforms of business intelligence, applications and tools, security and mobile
applications (Lyon et al. 2015). The processes and new technologies that are vital that are
adopted in an organization can increase the business growth and also provide in the improvement
outcome of the business in a specific way. The facility management of the organization should
be careful of choosing the technologies that are emerging by keeping the position of their
business in mind and also consider the potential risks and the rewards that the organization will
get. The reward that the organization achieves can be most significant. The organizations can get
an idea of the rewards that are possible by looking at the adopters that were previously used and
also used their experience in terms of barometer.
Of all the rewards that can be faced by an organization, four main key rewards are
described below:
1. Adoption that are made early puts an organization ahead among all the competitors: The
innovative technology that are adopted in an organization indicates that the organization
has time to know about the way to leverage those innovative technologies so that it gives
the best outcome and can also start to claim the market share when other competitors of
the organization still does not know how to handle those technologies.
2. The increase value of the stakeholders is implemented successfully: The implementation
of the proper technology which can increase the performance of the business from bottom
line are to be successfully installed.
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3. The improvement in performance helps to operate in a more effective way: The
organization of facility management can operate all the process more effectively when
new technologies are adopted in an organization.
4. Improve efficiency is done by increase productivity: The new technologies that
are used in an organization will help to increase the productivity of the
organization which leads to improve the efficiency.
Some tips for adoption of new technologies with minimal risk: The IT projects that are new to
the organization do have certain amount of risk. The risk that comes in the organization due to
improved technologies can be reduced and mitigated by following eight ways:
1. Creating a business case: The organizations have to understand the level of tolerance that they
can bear for failure, the importance of implementing the technology and total amount of time and
resources that the project will require.
2. Understanding and agreeing with business upfront: The technologies are to be implemented
for the sake of organization. Not for the sake of personal use.
3. Engaging key stakeholders: When the transformational technologies are implemented, the
change that comes in an organization must be linked with the market and the business
requirements. If this is not done, there remains a risk that the change that has happened is
rejected by the organization.
4. Securing executive sponsorship: If there is a full executive support in the organization, it gives
an indication that the company has invested much of its money by making the implementation of
the technology work.
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5. Choosing right technology: The total number of parameters which includes features of
industry specific, functionality depth, development path in future, ease support, integration with
future or the existing systems, scalability and also flexibility to adapt the business model that is
changing.
6. Proofing the decision in future: The technology that is selected by the organization should all
the processes involved in the project. The technology must be implemented in such a way that it
is profitable both in present and the future to increase the profitability of the organization.
7. Demanding before implementation support: The place where the technology is implemented
should have an effective as well as well-resourced support (Scherer et al. 2014). The
implementation does not end when the technology is going live.
8. Implementing effective governance: For the organizations that have ongoing success should
have essential corporate governance. This helps to extend the implementation of the technology.
If the level of scrutiny and governance is higher, the risk on the project becomes lower in an
organization.
It can be concluded that to make the organization innovative and new, the organization
should implement technologies that are out of their comfort zone and they have to face some
risks if they want to go ahead among the competitors. The future of anything is not always clear.
So, it is recommended to take risks so that the project team and the business leadership all work
together to make an innovative idea and achieve benefits by adopting new technologies as well
as innovative technologies (Yeboah-Boateng and Essandoh 2014). The main aim is to minimize
risks by implementing a careful approach and also by working with those technology partners
who understands the business well. There are many contributions of new technologies in the
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organization. The new technologies that that are implemented in an organization leads to
economic growth of the organization. The economic growth can be realized when the new
technology is diffused widely and are also used widely. From series of decisions that are
individually taken are mainly the results of diffusion. When there are new inventions, there are
certain benefits for the uncertain cost for adopting the new technology. There is an understanding
for the factors that is essential for both the economists who are studying the determinants for the
growth of the organization and also for the producers and the creators who invented such new
technologies.
On the other hand, as we are living in digital age, it becomes immensely important to
interface technological advancement in business. Ability to adopt new technology is considered
as paramount that affects everything from the process of generating capital products to per capita
income (Rogers 2016). On the other hand, rapid economic development of business needs
adoption of the technology in business as present business market needs to adopt effective
technique in business. It is important to adopt new technique so that business organization can
retain in business with respective position (Drnevich and Croson 2013). However, several
security issues are involved with the adoption. In addition, privacy issues like leakage of data can
be occurred for adopting technology in business.
2.2 Critically analyze different theoretical approaches to the research problem
There are numerous hypotheses utilized as a part of IS inquire about. It is essential just in
hypotheses about innovation appropriation. There are interchangeable use in terms of diffusion
and adoption. Adoption refers to the stage where a particular technology is selected that is used
by an organization or an individual. While on the other hand diffusion is the stage where the new
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