|Type of paper:
|Management Business Technology Business management
Technology has, over the last few years, changed how we do business significantly. It has been, therefore, vital for companies to look for ways to incorporate various technological innovations into their daily operation. There are, however, numerous factors that managers have to consider when deciding how to implement technology into their businesses. Managers might seek to use technology to reduce the cost of operation, improve services, increase work-flow while gaining a competitive edge, and improve company profits overall. As much as technology has to offer for a company, it can also lead to some disadvantages; therefore, managers have to conduct a cost-benefit analysis of technology options continuously. This essay performs such an interpretation of Smitheford Pharmaceuticals while reviewing other factors that should influence their decision. Do world-class organizations always select the higher technology option; why or why not?
A quality management system is vital in the daily operations of a company. It may involve less complicated activities such as processing information, documents, tasks, and services. Managing the workflow offers business the chance to define and control processes while reviewing and analyzing how they are executed and their results. Quality management systems involve different tools and resources used by firms to adopt new technologies as well as enable continuous growth of business operations through measuring and analyzing (Nanda, 2016). However, higher technology may be seen as the optimal quality for a world-class organization such as Smitheford Pharmaceuticals; numerous factors influence technology decisions. The first factor is how technology affects product quality (Laudon and Traver, 2016). Smitheford Pharmaceuticals is famous for the quality of its brand products; therefore, it can be expected that any technological innovations they should choose to implement should aid to uphold this reputation. If an innovation, for example, dramatically improves product quality, it should be adopted. The innovation also has to meet the needs of their customers. Meeting customer needs aids the firm in attracting and retaining customers.
While reviewing the benefit that Smitheford Pharmaceuticals can rip from technology, it is important to focus on the detrimental effect it might have on the employees, cost of equipment, and the environment. The manager has to consider how the technology option impacts his or her employees; therefore, opting for technology that significantly improves Job satisfaction. It is also important to consider the availability of labor. The availability of labor refers to the number of employable individuals who can competently utilize the technology option that is chosen. It is also important to note whether the technology will increase costs in terms of staff training and machine acquisition and maintenance (Kumar and Pansari, 2015). Finally, the manager has to understand the environmental impact of the technology option. As the world strives for more environmentally friendly approaches to manufacturing, the technology options should lead to an increase in water, land, or air pollution.
Conclusively, technological innovations are essential for the growth of a company. This case is, however, true only when the management can make the right decision to employ a technology option. The technology does not necessarily have to be the higher option, just one that improves the quality of their product, meets customer needs, enhances job satisfaction, and saves on cost or generates the company money. The managers also have to consider the availability of workers competent in using the technology and the costs of training their current staff. The cost of acquiring and maintaining the new technology is also a vital factor for managers to consider. If an option satisfies these factors, a manager can easily advocate for its implementation.
Kumar, V., & Pansari, A. (2015). Measuring the benefits of employee engagement. MIT Sloan Management Review, 56(4), 67.
Laudon, K. C., & Traver, C. G. (2016). E-commerce: business, technology, society.
Nanda, V. (2016). Quality management system handbook for product development companies. CRC press.
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