Business Technology: Analyzing Positive and Negative Impacts

This report examines the multifaceted impacts of technology on business, highlighting both positive and negative aspects. Positive impacts include improved business strategies, expanded promotional reach, enhanced accuracy in data management, and upgraded business value through technological advancements. Conversely, negative impacts encompass privacy concerns, potential job losses due to automation, increased costs associated with technology adoption and training, and a reduction in personal interactions with customers. The report also includes a personal reflection on skill development and an action plan for continuous improvement in communication and research skills. It concludes that while technology is essential for businesses to remain competitive, careful consideration must be given to its implementation to mitigate potential drawbacks. Desklib offers a variety of resources including similar reports and study tools.

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Table of Contents
INTRODUCTION ..........................................................................................................................2
MAIN BODY...................................................................................................................................3
Positive impacts-.........................................................................................................................3
Negative Impacts - .....................................................................................................................4
Reflection -..................................................................................................................................4
Action plan .................................................................................................................................5
CONCLUSION ...............................................................................................................................6
REFERNCES ..................................................................................................................................7
INTRODUCTION
Technology is considered as the cluster of various techniques, processes and ability
which are being used by companies in order to attain certain aims and objectives. Moreover, the
technology is one aspect which is getting more involved in personal as well as working lives of
the individuals. It also comprises of both practical and theoretical understanding. By the
involvement of technology the tasks can be accomplished in more efficient way. Because of the
new emerging technologies day by day the process of communication is also becoming
progressive with the use of mobile phones or other advanced modes of
communication(AlSheibani, Cheung and Messom, 2018). Other than this, with the introduction
of the technology in the operations of the business there has been brought many revolutionary
changes in the other units of the company as well. Also while working with the advanced use of
methods, it also helps in increasing the productivity level of an individual. The following report

is going to cover the positive as well as negative impacts which technology tends to make on
company for its adaption along with the learning and application of the said aspects in future.
MAIN BODY
Because of the growing advancement as well its use is it required on the part of
companies to becomes familiar of the new advancements in order to ensure the business to be
more active(Basheer, et.al., 2019). Some of the impacts , both positive as well as negative which
can take place while adapting to any new technology are as follows -
Positive impacts-
The accommodation of technological advancement aids to boom development of business in
numerous manner. The optimistic approach adopted for running an enterprise are as follow-
 Improving business strategy- The telecommunication has crucial function to
upgrade the importance of business sources like medium of communication, internet
and so on. The roots extended their contact all over the globe connecting people. The
requirement for recruiting staff with excellent expertise in IT department as it need
people who are capable to communicate the demands of company(Cruz- Jesus,
Pinheiro and Oliveira, 2019).
 Expanding area of promotion- It generates various ways through
telecommunication to promote their commercial enterprise either limited or
intermediate entity. It helps to raise huge earning introducing various mechanism for
boosting business by accelerating manufacturing of goods. In this social media and
web pages of organization has hiked the expansion of business overseas.
 Accuracy– The technical advancement and its logistics simplify the past data
comprising its record, account book saved in software program. This does not leave
any scope of misapprehension(Gallardo, Hernantes and Serrano, 2018). It is
considered to show accurate result.
 Upgrading a business value– It helps in growing business by spreading its area of
operation through technical efforts. This can be achieved by introducing strategies to
carry its function in a prescribed standard form to conduct its work. It can be carried
by following norms of company and planning its action to attain profit.

Negative Impacts -
some of the major drawbacks which result from the adaption of the technology are described
below -
 Privacy issues - one of major negative impact is of the concerns regarding the privacy as
by the way of technology the data of the company can be stored or recorded in the
personal appliances of the individuals such as the laptops, computers, USB drivers, etc.
even though here the data are kept secured but many a times there lies the situation when
the other companies may fetch the data by the way of hacking the systems or appliances.
By this the data of the company can be misused which can also read in the reduction of
the goodwill of the company(Huang, Lee and Lee, 2021).
 Loss of jobs because of automation – with the adaption of the technology the direct
impact is made on the workforce of the company, while decreasing the need of them for
the operations of the business. As because of the advanced technology the, the machines
becomes self sufficient in order to carry out the operations which prior were solely
managed by the manpower. Also, for the workers to continue there lies the need of
advanced training with respect to the machines as well as newly adapted technology.
 Increase in cost – the overall cost of the business gets increased with the adoption of the
new technology in the company reason being for its adaptability it requires various costs
for its training programs. Also there requires the sum for the installation as well as
maintenance of the machines. Moreover, the adaption of the technology is not a difficult
task but the issue raise with respect to the overall increase in the budget of the
company(Jahanmir and Cavadas, 2018).
 Lack of personal interactions - with the introduction of the technology there lies the
lack of communication between the company and its customers. There arises the lack of
personal meetings reason being the high involvement of mobile applications and their
apps. The business and clients interact through the messaging apps and through social
media sites. Its important for company to communicate the client with being familiar and
professional both(Rijanto, 2020).

Reflection -
I'm grateful that I got a chance to study this model. I'm thankful that I received guidance
under the best teachers and has worked in good team. I have understood a lot of new things from
this assessment. For instance, how to research and how to examine the research report. I feel
positive after completion of this model. Earlier, I had weakness of communicating in front of
audience. During working on this assessment my parents and friends were very helpful I
received a practical knowledge. While working on this project my parents , family members and
friends supported me in various ways. I had the fear to interact with people as I was an introvert
person. But, after doing this model my I have overcome with this fear. My team had 10 members
in it and the team leader was very supportive. The team leader used to organise the group activity
which helped me in overcoming my fear to interact with people. Further, the use of technology
helped me in various ways. The technology helped me in doing research work. I have done
research with the help of internet and google on my respective topic which helped me in gaining
the content of my subject matter. The institution had various gadgets like laptops, personal
computers, tabs, android,etc. In the institution, I have learned how to use all these gadgets. The
emotional intelligence works on managing the emotions like fear, sadness ,etc. that came because
of loosing of our loved ones. This model has helped me a lot in my both personal and
professional life. This model is practicable in every aspect of life. Moreover, the model helped
me in researching on my research very efficiently. I got learning of technology in bulk and will
use this knowledge in my regular life. It will provide more assistance to me in my work. It is a
practicable learning that I learned from this model.
Action plan
SKILL WAYS TO BE
DEVELOPED
JUDGING CRITERIA TIME OF
ACCOMPLI
SHMENT
Communicati
on skills
I lack in this skill, I will begin
taking up initiative of
This skill will be judge
constantly as I involve more in
-

conversation others and
discussing on other topics.
activities as a coordinators.
Researching
Skills
As I want to improve my
Researching skills by searching
my topics through internet and
managing a project and teams.
Undertaking a responsibility of
completing a project assigned
on time by executing a plan
and activities or team meetings.
It will be judged by my senior
subordinates and managers to
evaluate my performance.
-
CONCLUSION
From the following report it can be very well summarised that with the evolution of the
technology ,it is also required on the part of businesses to become used to it in order to compete
with the competitors in a more effective way in the market. By the way of technology its
operations can be easily managed which also aids in the overall expansion of the business in
global markets as well. But there lies the both positive as well as negative impacts with respect to
the adaption of new technology by the company. Overall, it can be contented that is important
on the part of every enterprise to get well versed with the prevailing technology in order to move
forward.

REFERNCES
AlSheibani, S., Cheung, Y. and Messom, C., 2018. Artificial Intelligence Adoption: AI-
readiness at Firm-Level. In PACIS (p. 37).
Basheer, M.,et.al., 2019. Exploring the role of TQM and supply chain practices for firm supply
performance in the presence of information technology capabilities and supply chain
technology adoption: A case of textile firms in Pakistan. Uncertain Supply Chain
Management, 7(2), pp.275-288.
Cruz-Jesus, F., Pinheiro, A. and Oliveira, T., 2019. Understanding CRM adoption stages:
empirical analysis building on the TOE framework. Computers in Industry, 109, pp.1-
13.
Gallardo, G., Hernantes, J. and Serrano, N., 2018. Designing SaaS for enterprise adoption based
on task, company, and value-chain context. IEEE Internet Computing, 22(4), pp.37-45.
Huang, S.Y., Lee, S.C. and Lee, Y.S., 2021. Why can green social responsibility drive
agricultural technology manufacturing company to do good things? A novel adoption
model of environmental strategy. Agronomy, 11(8), p.1673.
Jahanmir, S.F. and Cavadas, J., 2018. Factors affecting late adoption of digital
innovations. Journal of business research, 88, pp.337-343.
Rijanto, A., 2020. Business financing and blockchain technology adoption in
agroindustry. Journal of Science and Technology Policy Management.