Business Report: Analyzing New Technology Adoption's Impacts

This report examines the effects of new technology adoption on businesses, discussing both the positive and negative impacts. The introduction highlights the sociological model of technology adoption and its significance for companies, including SMEs and MNCs. The main body explores how businesses like Tesco, Asda, Hilton, and Marriot have benefited from digital platforms, leading to faster payrolls, improved stock management, and increased customer reach. It also addresses the negative effects, such as the need for continuous technology updates to remain competitive and the financial risks associated with outdated technologies, using examples like Kodak and Blackberry. The conclusion emphasizes the importance of understanding technology adoption, evaluating potential outcomes, and fostering an innovative work environment to maximize benefits and minimize losses. It suggests focusing on R&D and market activities, and upgrading existing technologies to maintain a competitive edge and manage costs effectively.

PART 1 REPORT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAINBODY...................................................................................................................................3
Positive effect on organizations of the new technology adoption...............................................3
Negative effect of the adoption of new technology on the companies........................................4
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Adapting to new technology is one of the major issues among others. As known
technology adoption lifecycle is a type of sociological model that defines the adoption or
acceptance of innovation or a new product accordingly to the psychological and demographical
characteristics of targeted adopter group (Ryu, 2018). This is the major issue for all company’s
weather MNC’s and SME’s because to adapt new technology requires such working
environment which influence workforce to adapt new change. (Kuykendoll, 2019) Another is
that it needs high investment and posses’ financial risk as well because it is not mandatory that
each new technology brings positive aspect for the company. In this report will discuss about
positive and negative effect of adoption of new technology on different organizations.
MAINBODY
Positive effect on organizations of the new technology adoption
Adoption of new technology leads various positive aspects on companies for example
there are retail companies i.e. Tesco, Asda etc. adapts digital platform technology to offer it’s
product services to the customer as resulted it gets positive aspect on their business such as they
enable to get faster payrolls. In addition, they do not have to keep a authorized person for
checking their stocks because by using new technology, retail companies can have quick on the
stock. In addition, retail companies or hospitality companies i.e. Hilton, Marriot etc. do not have
to keep register for writing the records, now they eligible to store all information in the database
which is easily accessible. In modern world, most of the companies putting more efforts to make
their business digitalized because it helps them to access large number of customers at single
time and influences to buy their products (Cirillo and et.al., 2020). There is a great example of
Tesco and Sainsbury’s companies who currently hold up to 40.1% market share of the year of
May 2020 by using online platform technology. As same hospitality and travel and tourism
companies i.e. British Airway, Hilton etc. gets positive aspect of new technology adoption such
as these companies enables to provide online booking and registration services to the customer
by using digital technology as resulted these enables to increase their buying behaviour of

targeted audience. Overall, It denotes that adoption of new technology gives wide financial
benefits to the companies and improves their accessibility across the world.
Negative effect of the adoption of new technology on the companies
There are various negative impacts that faces by companies due to new technology
adoption such as if organizations do not update or modify their technologies as per the market
trends, they have to suffer loss. Currently all people become highly updated for the new
technology and adapts them to improve their working performance in the business market in that
situation, if any company uses outdated technology then no will come to buy the product. Even
middle-class people also do not like to buy outdated things. There are various examples of
companies who stuck with old technologies i.e. Blackberry, Nokia, Kodak etc. Kodak was a
photography company (Importance of Adopting New Technology in Business, 2020). It used to
believe that values of their brand are most important as compared other things, so it do not adapt
new digital photography. However, it never happened like company thoughts. Customers move
away from the company’s photography to digital photography as yield it have to face loss. Apart
from this, new technology adoption has increased costing of businesses due to this they unable to
generate high profit margin over the proposed product. there are various companies which adapts
new technology for achieving competitive advantage in their business market and create
awareness in customers about speciality of their new product or existing product segments. But
they have to adapt new emerging technology again and again as per the trends as resulted it
increases financial loss in the businesses (Hsu and et.al., 2019). New technology adoption
requires high investment as well as commercial risk because it is not important that every new
technology leads positive aspects in the business. Company’s weather MNC or SMEs both have
to face big challenge while adopting new technology because it can support them to gain profit
or it can bring financial loss as well in the business.
CONCLUSION
It has been summarized about issue i.e. adoption of new technology and it’s impacts on
different companies. It has evaluated that there are various companies which have achieved
various positive aspects after adoption new technology. On contrary there are some other
companies as well which have received negative aspects after implication of new technology. So,

it can be understood from above discussion is that it is essential for the companies to understand
significance of new technology adoption then must evaluate forecast outcomes which they actual
wants to receive after adaption (Cronin, 2020). Each company needs to make their working
environment innovation and healthy then it will allow employees to create some creativity which
can help them to increase it’s business performance. if companies focus over R&D department
and market activities then definitely, they can receive all framed outcomes which they have
priorly sated from the adoption of new technology. Upgradation in existing technology will also
help company to keep further in their business market and saves additional costs which spends
over adoption of new technology. So, companies must adapt these suggestions then definitely
they will get positive aspects on their businesses.

REFERENCES
Cirillo, V and et.al., 2020. Digitizing firms: skills, work organization and the adoption of new
enabling technologies.
Hsu, H.Y and et.al., 2019. Openness of technology adoption, top management support and
service innovation: a social innovation perspective. Journal of Business & Industrial
Marketing.
Ryu, H.S., 2018, January. Understanding benefit and risk framework of fintech adoption:
Comparison of early adopters and late adopters. In Proceedings of the 51st Hawaii
International Conference on System Sciences.
Kuykendoll, K.V., 2019. Adapting to New Technology in Policing.
Cronin, A.K., 2020. Technology and Strategic Surprise: Adapting to an Era of Open
Innovation. The US Army War College Quarterly: Parameters, 50(3), p.8.
Online
Importance of Adopting New Technology in Business. 2020. [Online]. Available Through: - <
http://prooworld.com/marketing/adopting-new-technology/>