Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Technology Management
The rapid technological advancements that have characterized the modern society have contributed to increased automation, especially in the business sector. The modern business world is experiencing increased automation and technological advancements because businesses are constantly seeking for measures to enhance their profitability and competitive advantage. In a survey conducted on the financial services industry, Fleming (2016) states that companies in this sector are facing increased automation, which could generate an upheaval for the industry and its employees. Financial services companies are increasingly adopting and introducing technology for their business processes to achieve greater accuracy and efficiency across all their operations. While these advancements could cause an industry upheaval, they help companies enhance their efficiency by improving functionality and reducing inefficiencies in operations.
As technological advancements continue to change business operations, its important for businesses to establish suitable measures for automation of their functions and technology management. The first step towards grasping automation in light of increased technological advancements is establishing organizational goals. Similar to establishing a new business endeavor/enterprise, successful automation processes require determining clear goals on what will be accomplished...
As shown in the article, establishing clear goals help in determining the specific inefficiencies to be addressed or functions to be carried out by the technology. Once these goals are established, the second step is to determine the appropriate technology depending on what will be automated. This also requires identifying the specific business processes to be automated and how the selected technology will automate them in an effective manner. The third step I would utilize is to develop a team that will handle the automation process and communicate the vision to the team and the entire workforce. This helps in creating buy-ins towards the successful implementation of the automation. Upon implementation, the final step would be to evaluate the effectiveness of the automation in achieving the established goals and making regular improvements. This helps in ensuring that the automation is implemented in line with the desired goals and improved to address emerging customer needs.
These steps are good for business because they will help ensure that the automation is carried out in an effective manner. While there are various technological solutions that are available in the market, the adoption of these solutions require suitable approaches in order to avoid any potential pitfalls (Forrest, 2016). The previously described steps are good for business because…
References
Fleming, S. (2016, May 5). Financial Services Companies Braced for Automation. Financial Times. Retrieved August 4, 2017, from https://www.ft.com/content/577216d8-0802-11e6-a623-b84d06a39ec2
Forrest, C. (2016, November 1). Five Best Practices for Bringing Automation to your Organization. Retrieved August 4, 2017, from http://www.zdnet.com/article/five-best-practices-for-bringing-automation-to-your-organization/
Management and Business Management Theories and Principles of Each Reading The Fifth Discipline forces managers to look at the way in which learning disabilities which are common to organizations can actually stunt their growth and progress. The author targets several common learning disabilities which can riddle even powerful organizations, they are: identifying with only one position, external enemies, the illusion of taking charge, fixation on events, the parable of the boiled frog,
Without this level of foresight and planning an organization will have three to six months of one direction then another. The side-effect is that over a year nothing strategic gets accomplished. A CEO needs to define then a series of interlinked and interrelated plans where it is communicated and recognized that there may be one or two quarters of foundation-building where nothing significant happens, yet this time period is specifically focused on building for the future.
Technology Business Processes Technology Mediated Organizational Improvement: Spotify's Marketing Mix The proliferation of the personal computer, the high speed internet connection and the personal listening device have all have a dramatic change on the way that consumers acquire and use music. The inception of digital media and file compression has changed the rules of music acquisition for the artist, the consumer and the retailer alike. For the consumer, the acquisition of music
Management Technologies in American Corporations An exploration of knowledge organizations and their management of information using both the Internet and digital means This paper will explore the pros and cons of both, and make recommendations for implementing them into companies, both large and small, and finally show real-world examples of these technologies in use in some of the most prominent American companies today. Today, we live in a very complex world. Technology
Integrating Total Quality Environmental Management Systems - a Critical Study of TQEM Relevance of TQM to Environmental Management Scope of Dissertation Moving from Reactive to Proactive Management Understanding TQM in Relation to TQEM History of TQM Operation of TQM Quality and Environmental Management Standards Environmental Management Systems Weaknesses of EMS Standards Total Quality Environmental Management Comparing ISO 9000 and ISO 14000 Integrating the ISO 14000 Environmental Management System Demographics Impact of certification on economic and ecological performances Research Design and Nature Integrating a Sustainable EMS with
CVS HR Management The business of CVS is to provide products and health services with a vision that "strives to improve the quality of human life" (CVScaremark, 2011). Taking a look at two of the organization's strategic goals of the Human Resource business areas Training, Recruiting, Selection, and Technology it is easy to see how CVS is an industry leader. CVS recognizes the importance of establishing a culture that will have an