Academic Essay: Impact of New Technology on Business & Management

This essay explores the impact of new technology on organizational performance, emphasizing the importance of adapting to innovations for competitive advantage. It discusses various technologies like artificial intelligence, robotics process automation, and communication technology, highlighting their benefits and challenges. The essay also examines the role of e-commerce and social media platforms in business growth, alongside issues such as resource management and regulatory compliance. The conclusion recommends that managers stay updated, adopt new technologies, and leverage social media for promotion to enhance company growth and customer satisfaction. Desklib provides a platform for students to access similar solved assignments and study resources.

Academic Writing for Business and Management

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
CONCLUSION AND RECOMMENDATIONS............................................................................6
REFRENCES...................................................................................................................................8

INTRODUCTION
It is important for an organisation to apply new machines and make unique products so that
they can satisfy needs of customers. It will also help in achieving goals and objectives of
company and good quality products can be delivered to customers (Aslani and et.al., 2019).
Nowadays, new technology is coming in market and competition is increasing. So, if an
organisation wants to earn more profit, then they have to apply new machines and make good
quality products. In essay, impact of new technology on performance of organisation is described
and different types of technology which is beneficial for company. E- commerce and social
media platforms, their advantages and disadvantages are discussed and how it is useful for
companies.
MAIN BODY
Adapting to new technology
Nowadays, competition is increasing in the market and new technology is coming in
market which can be used by managers for growth of company. To adapt new technology means
to apply new machines or make some changes which will help in growth and development of an
organisation. Customers want new and innovative products; promotion of product should be new
way and latest technology must be used. It is important to adopt new technology so that needs of
customers can be satisfied and it will help in gaining competitive advantage. When new
machines or ways are applied by managers in company then it helps in motivating employees
and boost their confidence (Cozzolino, Verona and Rothaermel, 2018). Managers should make
plans or strategies after determining needs of customers because it will be easy to attract people.
There are new ways for promotion of product such as, social networking sites which includes,
Facebook, Instagram, Twitter, etc. Advertisement should be given on social sites and this is the
best way to attract people and help in capturing wide area. This will help in increasing sales of
company and more revenue can be generated. When new machines are applied or unique ideas
are used the it will help in making good quality products and improve overall performance of
company. This will help in improving effectiveness and employees will work efficiently.
Impact of technology on performance of organisation
When new technology is applied by managers then it affects performance of company.
Technology has positive impact on performance of organisation and it helps in increasing

efficiency of employees. In this digital world, it is important to apply new machines and find
different ways to satisfy needs of customers as well as of employees. When new machines are
being used by a firm then it reduces burden of workers and they will work efficiently. There are
some advantages of technology for organisation such as, it helps in getting relevant information,
saves time of managers, ease of mobility, saves money of firm (Ersoy-Babula and Babula, 2018).
There are many ways to communicate, banking sector is improving, new learning techniques,
motivate employees to suggest innovative ideas. This will help in increasing overall efficiency of
company and boost morale of employees. In many companies, work is being done through online
mode or laptops, which is flexible for workers and they will work efficiently. Technology
reduces burden of members and helps in satisfying their needs, all work is being done with the
help of software. So, technology has positive impact on performance of organisation and helps in
increasing profit of company. This will help in improving productivity of firm and more revenue
will be generated.
Types of technology
There are some new and trending technologies which can be used by companies for
growth of firm and better plans can be made to earn profit. Nowadays, competition is increasing
and it is important to apply new machines so that performance of company will be improved and
goals can be accomplished. Some new and trending technology are:
Artificial intelligence and machine learning
Artificial intelligence refers to simulation of process of human intelligence with the help
of machines or technology such as computer system. It includes system, expert language
processing, machine vision and other activities ((Sánchez-Perilla and et.al., 2019)). There are
four types of artificial intelligence, reactive machines, limited memory, theory of mind and self –
awareness. Machine learning is a method of data analysis which helps managers in taking good
decisions and better plans can be made for future.
Robotics process automation
Robotics process automation means to technology which helps in building, deploy, and
managing software. It helps in increasing productivity of company and increase efficiency so that
good products can be made. It enhances accuracy and increase security within the workplace.

Technology helps in providing more opportunities for growth of firm and enhances customer
service.
Communication technology
Communication technology means to interact with people and take decisions. In an
organisation there are many departments and it is not possible to communicate with all
employees and if there is some urgent work the they can call and solve issue. Nowadays, phones
are available and it has many new features. This helps in proper flow of information within the
organisation and work can be completed on time (Wanchai and et.al., 2019).
Issues face by companies
When applying new machine or technology, managers have to face many challenges or
problems. It is not easy to apply new technology because it requires huge investment and training
is to be given to employees so that they can work properly. Competition is increasing so
managers should make plans or strategies which is beneficial for growth of company. Some
issues which managers will face while applying new technology are, information security, cloud
computing, risk management and governance, regulatory compliance, change in rules and
regulations, resource management, technology integration and upgradation (Kee and Rubel,
2021). These are some issues which an organisation has to face and managers should try to find
solutions of these problems. They should use social media tools for advertisement such as,
Facebook, Instagram, Twitter and other sites for promotion of products. It is important to make
plans for future growth and development of company. Sometimes, managers are not able to
arrange resources and this may create issue in firm. It is difficult to manage risk and make
strategies which is beneficial in increasing profit.
E – commerce
E- commerce means electronic commerce means to buy and sell products through online
mode. In this digital world, all work is being done with the hep of online apps and it is beneficial
in growth of organisation. It is the responsibility of managers to identify choice of customers and
according to that plan should be made so that more people can be attracted and it will help in
increasing profit. Nowadays, companies are providing online shopping facility and payment is
made with online apps (ÖZSUNGUR, 2018). This is simple and easy way for customers to buy
goods and they get discounts. To attract people organisations, provide products at low cost or

offers are given like, buy 1 get 1 free, flat 20 % off. These are some ways by which more
customers will get information about new product and helps in promotion of product. Buying
and selling goods or services online is easy for customers and it will help in earning more
revenue.
Social media platforms
Social media platform is one of the latest techniques which is used by most of the
companies for promotion of their product. This help in increasing sales and more profit will be
generated. There are many social networking sites such as, Instagram, Facebook, etc, which can
be used by companies to attract more people and this will help in increasing sales of company. It
is important to make strategies for promotion of product and new ways must be adopted by a
firm so that more customers are attracted and it will help in gaining competitive advantage.
Advertisement should be given on social networking sites for increasing sales and people are
more active on these sites and they want new and innovative products (Saebi, Lien and Foss,
2017). Social media will help in identifying choice of customers because they are sharing their
views which help managers in making products. Before implementing plan, it is necessary to
determine choice of customers and it will help in making new and innovative products.
CONCLUSION AND RECOMMENDATIONS
From the above discussion it can be concluded that, organisations must apply new
technology so that they can manufacture good quality products and satisfy needs of customers.
Technology helps in increasing revenue of firm and improves overall productivity of company. It
also helps in improving efficiency of employees and they work efficiently to accomplish goals
and objectives. Different types of technology such as, artificial intelligence, robotics process

automation, virtual reality and communication technology. Further, issues face by companies
like, resource management, competition, rules and regulations has been discussed.
Recommendations for company are, managers should stay updated and make changes
according to requirement of customers. Advertisement should be given on social networking
sites and it will help in growth of company. New technology should be adopted by managers of a
firm so that they can make good products and provide services to customers. Managers must face
issues and find innovative solutions to face problems.

REFRENCES
Books and Journals
Aslani, A., and et.al., 2019. Energy-efficiency technologies in the building envelope: Life cycle
and adaptation assessment. Journal of Building Engineering. 21. pp.55-63.
Cozzolino, A., Verona, G. and Rothaermel, F. T., 2018. Unpacking the disruption process: New
technology, business models, and incumbent adaptation. Journal of Management
Studies. 55(7). pp.1166-1202.
Ersoy-Babula, A.I. and Babula, M., 2018. Learning on the move business students’ adaptation of
virtual learning environment and mobile device technology. The International Journal
of Management Education. 16(2). pp.321-326.
Kee, D. M. H. and Rubel, M. R. B., 2021. Technology adaptation is on its way: the role of high
involvement work practice. International Journal of Business Innovation and
Research. 25(1). pp.35-50.
ÖZSUNGUR, F., 2018. Adaptation Approach to Technology Transfer Strategy. Afro Eurasian
Studies. 7(1). pp.134-178.
Saebi, T., Lien, L. and Foss, N .J., 2017. What drives business model adaptation? The impact of
opportunities, threats and strategic orientation. Long range planning. 50(5). pp.567-581.
Sánchez-Perilla, A. L., and et.al., 2019. November. Information technology models for the
adaptation of the production processes. In Journal of Physics: Conference Series (Vol.
1403, No. 1, p. 012020). IOP Publishing.
Wanchai, P., and et.al., 2019. IT Adaptation Patterns to Enterprise-wide
Systems. Communications of the Association for Information Systems. 45(1). p.15.