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Does Technology Make a difference - Essay Example

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Technological advancement has transformed all the sectors. In this way, it has led to progression in sectors such as hospitality, education manufacturing and medicine. Evidently, the transformations have significant impacts…
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Download file to see previous pages Currently, communication has become a massive industry owing to technological advancements. Technological advancements have increased the communication speed immensely. Additionally, it has enabled diversification of the communication sector. Therefore, the communication sector has countless facets. Communication serves a catalyst of other industries. The advancements in communication have necessitated changes in business practises. Acquisition of technology comes at a cost. It is vital to appraise the benefits that will come up from the acquisition of technology in an entity against the resource out flows. In some situations, it will demand setting-up of infrastructure. This comes at a significant cost. Additionally, organizations will require to retraining employees due to advancements in technology. The advancement in technology may also render sections of employees redundant. This would have cost implications on the entity as it pays benefits to the retrenched workers and hires additional personnel suited for the new technology. Alternatively, entities may opt to retrain the employees to avoid disruption in the entity (Shoniregun, 2005).
Technology has countless benefits. As such, organizations can access many databases that contain vital information. Managers can utilize such information to enable decision-making in entities. Therefore, technology facilitates informed decision making in organizations. This has reduced losses incurred by countless entities. Technology has consequently transformed management radically. Thus, flow of information in organizations has become critical. Technology has enabled faster distribution of information to the workforce. This has enabled increased production in most sectors. Technology has not only increased production through swift flow of information by eliminating inefficiencies. Technology has changed industrial production massively. Introduction of ...Download file to see next pagesRead More
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