Reflection 2 / For WIZARD KIM

Technology and Business

Casey Lee

American Public University

BUSN410: Critical Thinking for Business Decisions

01/17/2020

Introduction

The success of a business depends on many factors in the environment. The implication of the factors like technology is significantly dependent on the decision-making system used by the management. Among the many factors affecting the performance of business organizations, technology happens to be one of the main factors. There have been discussions for quite a long period of time investors, entrepreneurs and managers trying to examine the adverse implications the technology element has brought in the business (Blanco, 2016). It is quite true that technology has two sides in the business organizations. Despite the many reasons on the negative effects technology has brought in business, it is quite clear that the direction the effect takes is dependent on the decision-making systems on the technology and the implementation strategies.

Role of Decision-Making in Technology Effectiveness in Business

Technology and its related effects are timely issues in the business sector. The management and other stakeholders in the business world give technology key priority in the strategic formulations. Technology is one of the key elements the business organizations use to gain competitive advantage in the market and the industry. In as much as this element is so important and plays crucial role in ensuring the success of the business, decision making tool determines the direction it goes with its impacts. When the decision-making system is effective and sound, the implementation process of the technological strategies will work out effectively. So basically, when the decision-making process is well structured, the technology will prove to be effective and beneficial to the business.

There is need to have the right resources in the business organization that will facilitate the implementation of the technological needs and strategies. The resources are also needed to ensure the decision-making process is effective in the business organization. Technology is normally brought in to ensure that the business processes are enhanced, and the productivity improved. The benefits that technology comes with in business are so many and, in many occasions, they are quite challenging to install. The business management need to make sound decision and gather the right resources to initiate the implementation. The resources are needed in decision-making process which include the right personnel to make recommendations. In order for the technology to work out effective for the business, it is important to have the quality resources. The challenges like leakages in the systems and some information getting to the wrong hands in many cases is as a result of the inefficient resources.

The nature of the business determines the type of technology that is used to improve its operations. The management, therefore, needs to properly evaluate the decision-making process and align it with the technology to be put in place. There are cases where the decision-making system is so poor, they end up coming up with sloppy strategies on the technology application in business which brings problems to the business (Chang, 2016). When the decision has been made poorly and the technology ends up costing the business more than they bargained for, the blame comes back to the technology tool and not the poor system.

The Effect of the Implementation on the Success of Technology in business.

Besides the crucial role played by technology in the business success, the approach used by the management to initiate the implementation is also important in determining the effectiveness of the tool. The theoretical aspect of the technology alone is not enough to make the business succeed. The idea needs to be implemented or put into practice appropriately, when it is not properly implemented there are high chances of failure. The business management should therefore come up with an effective implementation plan to ensure they comprehensively optimize the benefits of technology in the business. Among the benefits that technology has brought include enhanced communication, increased efficiency and productivity, improved mobility, and reduced business costs. Efficiency is enhanced because operations are run efficiently with the use of technology. Use of computer that has high speed enables staff members to discuss and implement business ideas. Various tasks of the business are tackled without going to the business premises. Time and money are saved in the process and thus achieving cost-effectiveness. How companies work to achieve their goals has changed with the introduction of technology. Different machines that are used have made it possible to accomplish tasks swiftly and thus increasing productivity.

Technology has also made it possible for employees to be connected and talk about business any time they want to. They can communicate via mobile phones, emails, or social media. Excellent communication also makes employees be able to air their grievances to the management. The management then addresses the grievances that are pressing and genuine. Business meetings are also conducted online when managers are not able to do so physically. For instance, when managers are out of the country for business. The latest apps and high-speed internet enhance such online meetings which are thus conducted quickly and effectively. Some services are also offered through the use of technology. Various processes in businesses are also automated.

Technology helps to reduce costs by reducing the number of workers in a company. For example, the use of software for maintenance management makes asset failure to reduce, and hence costs that are incurred are low. Travel costs have also been eliminated by coming up with communication solutions for overseas clients. There is no traveling to meet clients and discuss various business matters anymore. Technology has gone through so much advancement over the years and has come out to be so important to business (Hirshleifer, 2018). It is therefore important to come up with an effective implementation plan to ensure the technology is well placed to benefit the business.

An implementation plan that has properly defined and availed the resources needed to bring in the technology into the business is key for the success of the technology. It is important to gather the right resources and put them together to be used in the implementation process. When the resources are available it is quite easy to implement the technology and make it work effectively for the business (Spithoven, 2015). Inefficient resources do not allow the implementation process to be done conclusively. This may be quite challenging as it brings in incomplete technology in the business which makes both the technology and the business vulnerable. Some of the challenges and the weaknesses that make technology be painted dangerous in the business is due to poor implementation. It is therefore important to come up with a sound implementation plan.

Conclusion

Technology is an important part of business in the current world; despite some challenges it faces in the mission to improve the business state. The two main ways that can be used to fix the challenges are the decision making and implementation plan. The manner the organization handles the decision-making process and the approach followed in decision making are central in making the plan effective. Technology has been at the centre of the transformations and developments taking place in the business world. There have been so many forces to the tool in form of challenges which can actually be fixed. The implication of the technology is therefore dependent on the business decision making and the implementation procedures.

References:

Blanco, E., Haller, T., Lopez, M. C., & Walker, J. M. (2016). The tension between private benefits and degradation externalities from appropriation in the commons. Journal of Economic Behavior & Organization, 125, 136–147. doi: 10.1016/j.jebo.2016.02.008

Chang, J. F. (2016). Business process management systems: strategy and implementation. CRC Press.

Hirshleifer, D., Jian, M., & Zhang, H. (2018). Superstition and Financial Decision Making. Management Science, 64(1), 235–252. doi: 10.1287/mnsc.2016.2584

Newton, V., Greenberg, A., & See, J. (2017). Project Management Implications and Implementation Roadmap of Human Readiness Levels. HCI in Business, Government and Organizations. Interacting with Information Systems Lecture Notes in Computer Science, 99–111. doi: 10.1007/978-3-319-58481-2_9

Spithoven, A., & Teirlinck, P. (2015). Internal capabilities, network resources and appropriation mechanisms as determinants of R&D outsourcing. Research Policy, 44(3), 711–725. doi: 10.1016/j.respol.2014.10.013