Technology plays
an important role in the business world. As years passed by, businesses have
become dependent on technology. Almost all business and industries around the
world are using computers ranging from the simplest to the most complex
operation. It has play key role in the growth of trade and commerce in the
world. Nowadays, all businesses are using internet to advertise their business.
If a business has their own website, it enables to reach the clients around the
world with just one click of button. Technology has allowed companies to grow
and expand in ways never thought possible. Almost every aspect of business is
heavily influenced by technology. It has become very important that has become
a huge industry itself.
We
all knew that technology grows fast and the demand human resources increased.
Life in every aspects such as business transactions when it comes to doing
heavy papers, arranging, sorting now has come to find its solution to make task
easier and less time consuming. We can say that all companies adopted what the
technology offers. This is through the process of computerization. With its
help, all transactions inside and outside the business world can be done in an
easy way.
Technology is the practical application
of knowledge. It is the systematic treatment of art and science. The new
science is circular in its motivation. The tendency only grows more definite as
it kindles consecutively greater aspirations. Perhaps it is a desire, whether
technical or ethical, to leave something here that is greater than before. Now
the world is successful, dominated by computers and electronic intelligence
that will leave a path for our recipient into the unknown in search of broader
horizons than even we dreamed of. The desires to exist generation with success
and in turn, assist them discovering consequential uses of their own art and
science.
Advances in technology range from cell
phones and laptops to great macro computers used in the most detrimental and
delicate of military operations. While these technological advances are
speeding along the evolution of man’s industrial greatness, some people believe
that they are greatly impeding the fostering of emotional and psychological
integrity among the human race. We lose touch from behind screens and bolt
irresponsibly through moral challenges at the speed of light with faceless
services such as e-mail and the internet. Through the vital exterior of metal
and computer chips, the United States stands more for innovation and
simplification than ever before, breaking new ground in the accomplishments of
mankind. Economic growth caused by new and profound technology has sparked mass
productivity and international competitiveness.
For instance, invention of computers brought
a technology in the world which had the power to multitask like none other
machine created by man. It could store information, simplify tasks and organize
work with just one instruction. Ever since, computers have been developed into
smarter machines by leaders of top information.
Technology defined by Everett M. Rogers
as “a design for instrumental action that reduces the uncertainty in the
cause-effect relationships involved in achieving a desired outcome.” That is, technology encompasses tangible
products, the computer and knowledge about processes and methods, such as the
technology of mass production introduced by Henry Ford and others.
According to J. Paap, as queted by
Michael Bigwood in Research-technology management, technology as “the use of
science-based knowledge to meet a need.” Bigwood
Suggest that “Perfectly
describes the concept of technology as a bridge between science and new
products. And also draws heavily on scientific advances and the understanding
gained through research and development. It then leverages this information to
improve both the performance and overall usefulness of products, system and
services.
In the context of business, technology
has a wide range of potential effects on management. It is reduced costs of
operations, new product and new market creation, adaptation to changes in scale
and format, improved customer service and reorganized administrative
operations.
Professor Michael Porter of Harvard
Business School is one of many business analysts who believe that technology is
one of the most significant forces affecting business competition. Porter noted
that technology has the potential to change the structure of existing
industries and to create new industries. It is also a great equalizer,
undermining the competitive advantages of market leaders and enabling new
companies to take leadership away from existing firms.
Since technology is such a vital force,
the field of management has emerged to address the particular ways in which
companies should approach the use of technology in business strategies and
operations. It is inherently difficult to manage because it is constantly
changing, often in ways that cannot be predicted.
In the field of management, the national
research council in Washington D.C defined
management of technology (MOT) as linking “engineering, science, and
management disciplines to plan, develop and implement technological
capabilities to shape and accomplish the strategic and operational objectives
of an organization. While technology management techniques are themselves
important to firm competitiveness, they are most effective when the complement
the overall strategic posture adopted by the firm. And tries to create
competitive by incorporating technological opportunities into the corporate
strategy. Technology management focuses on the intersection of technology and
business, encompassing not only technology creation but also its application,
dissemination and impact.
