Technological Progress as a Process of Renewal, Which Implies for New Technology to Add Value - Essay Example

? TECHNOLOGICAL PROGRESS November 21, Table of Contents Table of Contents 2 Introduction 3 Manager’s Perspective on Technological Progress 4 Reaction of managers during technological progress 5 Conclusion 7 References 8 Introduction It is worth noting that technological progress is effectively defined as a process of replacement and renewal of existing technologies, this means that, if new technologies have to add value, then they must make formerly unknown things possible, rather, they have to make the older technologies obsolete. This can simply be put that the effects of technologies are causal. This implies that, wherever there is a winner, a loser must prevail. Regrettably, in most circumstances the losers become perceptible when evaluating the alteration from a historical perspective. For instance, this was evidences in the 20th century when the agricultural technological process shifted the agrarian revolution to an industrial production workforce in the US. As a result of the progress, US farmers significantly lost their vocation as well as career even if the productivity per acre was enhanced dramatically and the production volume, which amplified with technology. In such situation, farmers are therefore what the industry would refer to as ‘tech-losers’. As the technology ubiquity spreads development worldwide, it usually establishes two categories of people: tech-winners as well as tech-losers. Tech-losers in most cases of cannot be incorporated into the changing technological environment. Many are the times they fear losing their jobs as well as their lifestyles as a result of technology progress (Sood and Tellis, 2005). This per evaluates the whole aspect of technological progress with a clear focus on the manner in which a manager would think about the situations if they occur in a mid-sized company. It also evaluates various ways in which managers might try to resolve the issues that arise in the process as well as the indicators that would guide them. Manager’s Perspective on Technological Progress Technological progress is a very paramount issue that managers often evaluate in their companies. Often, with technology surfacing at breakneck speed, it is becomes apparent that no single manager would predict what's around the next corner. More importantly, a particular type of technology has to be forgotten if innovations are made. Nevertheless, life circle remains constant. Usually, when a novel high-tech establishment is born, the older one has to die. Sood and Tellis (2005).established that at times, the loss is a good thing because it brings easier way of doing things as well as elevating companies’ profitability. Nonetheless, sometimes, the departure swirls bittersweet feelings especially if the IT employees had been used to a particular mode of operations. As an IT/IS Manager, major concerns include embracing a system that do not lead to significant errors, curbing identity theft through hacking as well as enhancing workers cooperation among others. Often, IT managers in companies construe technological progress as a path which has one-dimensional as well as with milestones on it. Research indicates that managers agree that the process helps everybody to crosswise especially if one has the intellectual capacity to do so. However, they take this not to be an accurate description. For instance, taking into consideration a flat plane which has two dimensions and without milestones, one would notice that there are outstanding points of accomplishment spotted all over it. Overlay on such a flat surface would be a structure of a branching tree; which signifies culture's progress. Often, culture begins at some point in lieu of its preliminary conditions. Therefore, as it moves, it has to touch on some of the potentials on the flat surface but not all. This implies that is a possibility of getting a new technology which becomes successful replacing an old one. For instance, after innovation, Boeing 707 completely replaced model 706 which was no longer needed. Therefore, as An IT manager in a mid-size company, one aspect that is clearly noted is that, if innovations are introduced, there must have various changes and some older technology become obsolete. In many cases, people lose their jobs; a company has to make huge investments on the new technologies as well as require highly qualified personnel to maintain the client’s data. Reaction of managers during technological progress It is worth noting that various changes as well as challenges occurs on companies, basically, in the company, there are two perspectives; Technophobic or rather those who feel are averse to technology especially computers and high technology as well as the technophile, the individuals who become more enthusiastic regarding new technology. Therefore, it is the duty of the manager maintains teamwork among the employees as well as ensures that people adopt the new technology as a strategy to elevate company’s performance (Bakhshi and Larsen, 2005). There are three important aspects that a manager needs to consider; training of the employees in the IT department, motivating the employees to embrace the new technology and ensuring effective communication in the change process. Motivation of employees usually raises their morale to embrace the new technology. On the other hand, manager need to communicate effectively all the aspects that may be brought about by the technology process. For instance, the manager need to clearly elaborate to the employees that some of them may negatively be affected by the technology. More importantly, managers need to ensure that employees are trained on the operation of new technologies. This is very imperative if the company has to maintain its normal operations (Qayum, 2005). Guides to Decision Making Competition in the Market Many businesses face competition in contemporary business world. One of the key aspects of staying ahead of the competition is enhancing an effective Information System in order to protect clients’ data. Often, the clients have to worry about effectiveness of their service providers as well as whether their information is secure in the current world characterized with uncertainty as well as fraudulent companies. Clients therefore look for companies that would offer the best services. This has led to cut through competition as companies to stay ahead of the other (Bakhshi and Larsen, 2005). Costs The costs as well as gains from technical progress are erratically shared; therefore, periods characterized by rapid technical progress usually brings about striking increases in income inequality in the company. However, this is inevitable and it is an approach that is considered in motivating the IT employees. When the IT staffs effectively adapt to various challenges in the process of adjusting various Informational systems in a company, high qualified is experts require an increased salary in order to motivate them to work effectively with the new technology (Qayum, 2005). Regulations An IT manager has to put into consideration the policies and regulations provided in the verge of protecting client information as well as enhancing security. It is worth noting that advances in IT often necessitate new regulatory as well as legal responses especially in order to guard Intellectual Property (IP) rights in media, daunt identity theft and deal with various the challenges of amplified international competition. Conclusion It is worth noting that technological progress is a very paramount aspect in the contemporary business world. Managers including those in the IT departments toil tirelessly to ensure that their companies keep track of technological advancement. Obviously, when new technologies are introduced, order ones become obsolete. This means that the company has to invest heavily on the new technology in the verge of offering efficient services. The managers therefore require various strategies in order to maintain normal operations. This is often done through trainings, motivating employees and communicating changes. The mangers have to keep at the back of their minds the fact that it is very paramount to consider other rivals move towards embracing technologies, the cost of running the technology as well as the regulations in the industry. References Bakhshi, H. and Larsen J. (2005). "ICT-specific technological progress in the United Kingdom." Journal of Macroeconomics, 27(1): 648–669. Sood, A. and Tellis G. J. (2005). "Technological Evolution and Radical Innovation." Journal of Marketing, 69(2): 152–168. Qayum, A. (2005). "Endogenicity of economic growth models." Technological Forecasting & Social Change, 72 (4): 75-84. Read More