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Technology for business - Coursework Example

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Changing technological forces could benefit companies in various ways. Companies employ technology to increase productivity. The employees perform better and use limited resources…
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Module Technology for Business Technology can have both positive and negative impacts on a company depending on how it is used. Changing technological forces could benefit companies in various ways. Companies employ technology to increase productivity. The employees perform better and use limited resources and which results into increased profits for the business. The entity gains a competitive advantage over its rivals that make similar goods (Attaran 586). Greater collaboration has been experienced within the company resulting from a better platform to share ideas, save work and give deliverables. This is through the various tools that are available ranging from software management and social networking tools. Finally, the company has achieved improved customer experience as technology has led into better ways of managing and retrieving customer information.
On the other hand, the use of technology poses threats to the company. First, the company is likely to lose its customers who rely on the products that are carefully crafted by the employees. The use of technology makes the products that are produced by the similar to other companies in the market. It can be observed that the customers opt for products that are produced by the company since they are specially crafted by hand (Attaran 588). The second threat is that technology within the sector is dynamic and this means that the entity is forced to invest heavily in technology. The company is advised to implement the new technology gradually into its poduction and this will ensure that the customers accept the change process in the same way. Finally, the company should invest into the form of production that is likely to be used for a longer time.
Work Cited
Attaran, Mohsen. "Exploring the relationship between information technology and business process reengineering." Information & Management 41.5 (2004): 585-596. Print. Read More
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