Investigating Technological Challenges in Business: Project Proposal

This project proposal aims to analyze the technological challenges within the business field, focusing on identifying challenges faced by business firms, evaluating solutions to address these challenges, analyzing technology change management implementation within organizations, and investigating strategies for developing technology within companies. The proposal outlines the research problem, which centers on the need for organizations to adapt to rapidly changing technology to maintain a competitive edge, and the difficulties associated with implementing new technologies. It details the research aim, objectives, and questions, emphasizing the importance of understanding and managing technological change, training considerations, and the effects on organizational employees. The conceptual framework discusses the significance of technology, challenges associated with technological advancement, opportunities presented by technology, and the importance of technology in business success. Methodologies for data collection and analysis are also presented, along with a project budget and schedule.

Running head: TECHNOLOGICAL CHALLENGES IN BUSINESS FIELD
Technological Challenges in Business Field
Name of the University:
Name of the Student:
Authors Note:

1TECHNOLOGICAL CHALLENGES IN BUSINESS FIELD
Table of Contents
1. Research Problem............................................................................................................2
2. Research Aim, Objectives and Questions........................................................................3
3. Justification and Potential output of Research.................................................................4
4. Conceptual Framework....................................................................................................4
4.1 Significance of Technology.......................................................................................5
4.2 Challenges Associated with Technological Advancement in Business....................6
4.3 Opportunities that Technology in Business Field Provides.......................................7
4.4. Importance of Technology in Business Success.......................................................8
5. Methodology and Presenting Secondary Data...............................................................10
5.1. Research Methodologies used in this Study...........................................................10
5.2. Secondary Sources of Data.....................................................................................10
5.3. Data Analysis and Presentation..............................................................................11
6. Organization of Study....................................................................................................11
7. Project Budget and Schedule.........................................................................................12
References..........................................................................................................................15

2TECHNOLOGICAL CHALLENGES IN BUSINESS FIELD
1. Research Problem
In order to remain competitive in the global business environment, the organizations are
dealing with several issues related to advancement of technology. To maintain their competitive
position the companies require adapting to a rapidly changing environment for addressing the
consumer needs (D’Ascen & Xie, 2018). Organizations might become adept in developing new
technology that can facilitate in managing challenges that is aligned with implementing a
positive change. Changes in technology implementation within the businesses can offer
considerable advantages to the companies but can also present numerous challenges that requires
being managed to attain a positive outcome. Problems might take place at the time the companies
all over the world in implementing and developing new technology along with dealing with the
challenges that go along with implementing certain changes within the companies.
Bringing in new technology might get intimidating for the organizational staff those are
satisfied in carrying out work in their own way (Kandachar & Halme, 2017). Implementing new
technology in business firms can mean changes within the job responsibilities, additional work
load, additional training along with necessary employees. Technology changes might also affect
the culture and nature of the business companies. With implementation of new technology
resistance can also come in the form of attachment with old processes along with legacy tools
that the employees are comfortable with. For this reason, it can be said that technology change is
serving as a new tool or software and it is also transforming behavior of employees so that they
are not resistant to change (Kandachar, 2017). Proper management and training of staff is
necessary in proper implementation of technology within the company. Considering such
research problem, the current research will focus on offering suitable solutions for addressing

3TECHNOLOGICAL CHALLENGES IN BUSINESS FIELD
such issues in technology implementation within business organizations. The research will also
consider explaining advantages and challenges of dealing with technological change, training
considerations as well as the effect it might have on organizational employees (Krishnan, 2016).
2. Research Aim, Objectives and Questions
The aim of this research is to analyses the technological challenges that takes place
within the business field. Focusing on such aim, the objectives set in the research are explained
under:
 To analyses the technological challenges faced by the business firms
 To evaluate the solutions that can address such technological challenges in business fold
 To analyses the technology change management implementation within organizations
 To investigate the strategies that are implemented by organizations in developing
technology within the companies
The research questions that are set in this research to be answered are explained under:
 What are the ways to analyze the technological challenges faced by the business firms?
 What are possible ways to evaluate the solutions that can address such technological
challenges in business fold?
 How to analyze the technology change management implementation within
organizations?
 What are the strategies that are implemented by organizations in developing technology
within the companies?

4TECHNOLOGICAL CHALLENGES IN BUSINESS FIELD
3. Justification and Potential output of Research
The research has a great scope in analyzing the emerging technological challenges within
the business field. The current research is observed to provide better implications on the business
of the companies in order to develop highly competitive strategies based on technology (Halme,
2017). The research has justified its implications as it ill explains the role of technology in the
success of the business. The research will have effective outcomes that is strategically significant
in managing technology that is capable to transform its services, products, operations and
processes, organizational processes and its competitive edge.
4. Conceptual Framework
In the current era there has been a significant change in the operational process of
business which is highly determined by the technological advancement in the business field. This
industrial revolution is known to be fourth in its line and is termed as Industry 4.0, which is
dependent on technology as the source of processing and generating revenues. Introduction of
internet bought in a revolutionary change in the business world and could be considered as the
key driver of business towards technological advancement. Digitalization of various key
elements of business has made it easy and smooth for the management to supervise and conduct
the operations. Hence it can be easily concluded that technology is necessary for the growth in a
business. With time passing by, the business world has absorbed the technology, making it
impossible to segregate the two. Therefore, saying that the businesses on a global basis will
collapse if technology is taken out, will not be wrong as most of the business supports is running
on technology. However, there are contradictions to the same wherein people identifies the
various threats which comes in with technological advancements. This section will focus on the
significance, challenges and opportunities of technology in business.

5TECHNOLOGICAL CHALLENGES IN BUSINESS FIELD
4.1 Significance of Technology
Technology has been the primary reason of a tremendous growth and prosperity in trade
as well as commerce. Introduction and implementation of technology in the business has resulted
in creation of newer business concepts and better business models. This is the outcome of the
latest approach provided by the technology to the business (Ledford & Gast, 2018). The
transaction within a business has also been more fast, efficient as well as convenient. Technology
can be incorporated within various systems of the business including the accounting system,
sales system and management information system. It introduced tools to make complicated task
simpler.
The productivity of the business reaches a higher level with the introduction of the
automated process that is provided by the technology (Lewis, 2015). This also helps the business
to consume the minimum of the resources available to them and produce quality product and
services with their logistics and delivery faster. Moreover, the confidential information of the
organization is also stored with the use of technology makes it less prone with exposure.
Furthermore, the said information or data could also be accessed from anywhere and at any time
which makes it easier for the managers to make strategies (Machado & Davim, 2016).
In addition to the same, transactions and communication makes the business a complex
process but as technology penetrated the operations, it made huge changes to the same.
Globalization is another word for the business to spread make links across the world which is
highly possible due to advancement in technology (Mackey & Gass, 2015). For instance, most of
the companies use internet for marketing their product or create awareness about any of their
upcoming project.

6TECHNOLOGICAL CHALLENGES IN BUSINESS FIELD
The concept of Information Technology (IT) has changed the whole view of the
businesses regarding their operations (Mohseni et al., 2017). The information technology has
improved the quality of decisions taken by the managers by aligning the strategies with the aims
and objectives of the business. It actually assists the company to maintain its quality of product
and service to remain competitive in the cut-throat market.
4.2 Challenges Associated with Technological Advancement in Business
There has been a constant argument about the rise in technology in the business
operations as some suggests that technology will human workforce as machines will take over
the jobs while others support that technology could improve the productivity, service and
eventually profitability through innovation (Panneerselvam, 2014). On an overall view,
incorporation of technology in the business can strengthen and provide a competitive advantage
to the business over its rivals but at the same time it might increase pressure on the employees
and even reduce the professional satisfaction of the people that might harm the performance of
the business as a whole.
It has been observed that despite many people feel to have a successful career but a lot
more complain that their life has been more difficult due to lack of leadership, opportunity as
well as money (Piller, Weller & Kleer, 2015). Though, the new concept of big-data and new
analytical tools have brought in a revolutionary change in the organization, in the same time it
has also made work more complex by increasing the workload on the individuals. As the use of
technology has been increasing in the business now-a-days, the employees are needed to keep
themselves updated of the skill required to operate the same as the expectation of the consumers
in the same time has been increasing on a rapid pace.

7TECHNOLOGICAL CHALLENGES IN BUSINESS FIELD
In addition to that, it has also been seen that though technology makes the business to
become more proactive, productive, customized as well as predictive in their approach but at the
same time it starts incurring more expenses for the business (Rantala, Ukko, Saunila &
Havukainen, 2018). For instance, cloud computing is expensive, time consuming as well as
tough to maintain. Furthermore, with a rise in cybercrime these days, it becomes risky for the
organizations to keep their important and confidential files in system as it might get leaked
through hacking. Hence, with increasing technology it becomes necessary to update the system
and anti-viruses to protect the important files. This simply concludes that the technological
products and services have very short life as they become obsolete with a launch of a new update
of the same (Rubin, Aas & Stead, 2015). Therefore, the technology comes with lot of challenges
but the same can be resolved if proper care is taken and might turn out to be productive.
Moreover, the issue of data silos is again on hands which arise if the various department of
business uses different software to maintain their data. In such a case the business might face
issue on the grounds of collaboration, ill-information and inefficiency. Hence it makes it very
important for the business to choose its tools very carefully among the lots of software in the
market.
4.3 Opportunities that Technology in Business Field Provides
The incorporation of technology in the business filed might provide an ocean of
opportunities wherein the business could enhance its operations that might result in delivery of
quality product and services, eventually maximizing the shareholder’s wealth (Silverman, 2016).
An effective communication is the core of any business towards success. Hence, organizing an
effective tactics and communication strategies through better usage of resources available, it
might be an overall faster process to reach the stakeholders of the organization. Moreover, it will

8TECHNOLOGICAL CHALLENGES IN BUSINESS FIELD
be a lot more reliable as such information will not be done manually and so the risk of mistakes
is minimal (Spieth, Schneckenberg & Ricart, 2014). Technology also provides a platform
wherein all the people working on a single project but from different locations can work
simultaneously. Technology can also be associated with improved resource management. It also
provides the business an opportunity to save a huge amount of cost. For instance, a company
which has been employing a huge number people for a particular task could install machinery
which can work instead of those people at a low cost. However, in this case it becomes a
challenge for the job market as it might snatch jobs (Schneckenberg & Ricart, 2014). However,
from company’s point of view, it lowers their expenses. Moreover, with increased technology,
the safety issue decreases. It makes the organizations and its interest safer than before.
4.4. Importance of Technology in Business Success
Taylor, Bogdan and DeVault, (2015) stated that the technology is deemed to be vital in
business firms because of two major reasons that includes the success of all the business
activities, as the organizations are not able to deal with competition without the use of
technology. Moreover, it is also the technology driven innovation which can result the
companies to attain long term growth. These reasechers also indicated that with focus on
business activities, organizations can attain advantages from technologies through differentiating
services of products. Van Der Aalst, La Rosa and Santoro, (2016) revealed that implementation
of advanced technology has also facilitated in attaining advantages from certain new technology
implementation that can further facilitate in decreasing the operating costs, attaining advantages
from new technology change opportunities along with supporting process of change. Webster &
Tickner, (2017) indicated that for the reason technology support in innovation it seems that the
companies that invests within technology increase market shares, financial figures and overall

9TECHNOLOGICAL CHALLENGES IN BUSINESS FIELD
competitiveness. These reasechers also recognized the relevance of technology based on which
the managers can take actions on managing technology along with adding value to the
companies. Considering the same, the contemporary companies and the large organizations
consider investing huge capitals for technology implementation such as “Consumer Relationship
Management” and “Enterprise Resource Planning” (Taylor, Bogdan and DeVault, 2015). It has
been observed that despite many people feel to have a successful career but a lot more complain
that their life has been more difficult due to lack of leadership, opportunity as well as money.
Though, the new concept of big-data and new analytical tools have brought in a revolutionary
change in the organization, in the same time it has also made work more complex by increasing
the workload on the individuals (Taylor, Bogdan and DeVault, 2015). As the use of technology
has been increasing in the business now-a-days, the employees are needed to keep themselves
updated of the skill required to operate the same as the expectation of the consumers in the same
time has been increasing on a rapid pace.
Van Der Aalst, La Rosa and Santoro, (2016) evidenced that technology is the vital
component in addressing the market needs and consumer expectations. In general, apart from
attaining their goals all the organizational need to focus on needs of consumers. Leading
organizations require to center on their strategic business initiatives through employing relevant
technology that enhance their business operations. Webster & Tickner, (2017) stated that there
are several challenges faced by the companies in managing their technology to attain business
success. Considering the same, Technology can also be associated with improved resource
management. It also provides the business an opportunity to save a huge amount of cost. For
instance, a company which has been employing a huge number people for a particular task could
install machinery which can work instead of those people at a low cost.

10TECHNOLOGICAL CHALLENGES IN BUSINESS FIELD
5. Methodology and Presenting Secondary Data
5.1. Research Methodologies used in this Study
The research will employ the qualitative as well as quantitative research methods as a
manner of collecting data. The research will also employ methods such as questionnaires, focus
groups as well as interviews in gathering information from shareholders along with stakeholders
within the business field (Flick, 2015). The questionnaire will be providing to the employees
within several companies in an effort to gather views regarding implementation of technologies
within the companies. In addition, the questionnaires will be structured in order to reveal the
ways the employees in order to deal with such issue within the within the industry. Interviews
will ne employed on the managers and the CEOs. These respondents are the target participates
those will have to respond the reasons for which their businesses did not succeed and the use of
technology within their companies. The research will also focus on attaining an expertise within
the field through developing informed focus groups that will include the advisors and the
analysts.
5.2. Secondary Sources of Data
Most useful secondary data sources these days is observed to be journals and magazines.
Focusing on the same, the study will use secondary data sources information in efficient data
collection (Humphries, 2017). Literature is observed to be a rich secondary information source
along with books, journals and magazines explaining advanced technology use for business
success in global organizations. Website is another vital data collection source as online library
can be one of the efficient data collection sources. Such online data source from libraries
encompass electronic books, online journals, websites and magazines. In addition, the
information that are collected from such online library on technology use in business firms are

11TECHNOLOGICAL CHALLENGES IN BUSINESS FIELD
up-to-date and elaborated because of several choices available (Jussani, Wright & Ibusuki,
2017).
5.3. Data Analysis and Presentation
After gathering such data from the primary and secondary data collection sources, it will
be categorized, analyzed, processed as well as grouped into several categories. The data analysis
will also include employing both the qualitative as well as quantitative evaluation techniques for
understanding the information gathered totally (Kaivo-oja & Lauraeus, 2018). At the time the
primary and secondary data is totally processed they will be represented through employing the
publication of findings along with recommendations on the issues faced by the researcher in this
study. The data analyzed will be explained through tables, info-graphics ad pie-charts that will
serve as the visual aids in facilitating the researcher to gather suitable findings from the research.
6. Organization of Study
The first chapter of this research is to explain the research problem related with
technological challenged faced by the business organizations. The second chapter will explain
the aim, objectives and the research questions those are developed to attain suitable answer or
outcomes from them. The third chapter will justify the subject of research along with explaining
the potential study output. The forth chapter will explain the conceptual framework of this study
that will analyze the existing literature on technological challenges faced by business along with
recognizing and addressing the research gap. The fifth chapter will explain the research
methodology along with the secondary data sources that will be employed for gathering suitable
research findings. The sixth chapter will explain the structure of this research focused on which