Skip to main content
How can the firms cope up with changing technology enviornment?
Introduction- As we all know technology is implemented in almost every part of our lives. So question arises here is what is technology ? it is science or knowledge put into practical use to solve problems or invent useful tools Technology makes our lives easy but it comes up with certain challenges.  
METHODS TO COPE UP WITH CHALLENGES

       1.Involve your employees:

Involving employees in selection and implementation of technologies has multi fold benefits.They will be more open to the idea of a new IT system and will be able to provide insights on what will work for them and what won’t.

2.Early acceptance:- Psychology plays a big role as and when people start accepting things they will surely get a solution and able to cope up with it easily so start accepting the fact that technology is going to change for sure. we can’t control it. So businesses should make their mind for it and get ready for the new technologies.

3.Focus on Training:- Many new implementations fail because of lack of training. Train your employees well and give them to work on it and put up questions. 

4.Pilot Operation:-  Pilot operation is basically selecting a small segment of a company and implement new technology for that section. This minimizes risk, proves credibility to top management and helps other sections to adopt the same technology.

5.Plan Ahead :- To stay competitive and relevant in today’s business world, businesses  need to stay current with the changing technology and planned accordingly  so that  business get the most out of its current technologies and make the right technological investments.

 Conclusion:- In a brief nut shell, we can say that technology plays a bigger role in our lives and similarly in firms also. So in order to get competitive advantage we have to cope up with challenges and keep a constant vigil on it

Comments

  1. Gurdeepak17 September 2019 at 02:38

    font not very readable. Conclusion not as per what has been asked and little late too

    ReplyDelete

Post a Comment

Popular posts from this blog

Customer benefited from increased competition by liberalization and globalisation

Introduction: Liberalization- Liberalization is any process whereby a state lifts restriction on some private individual activities. Liberalization occurs when something which used to be banned is no longer banned, or when government  regulations  are relaxed.  Economic liberalization  is the reduction of state involvement in the economy. Globalization- G lobalization   is the word used to describe the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. Discussion: There is strong evidence in many services, not least telecoms, that liberalization leads to lower prices, better quality and wider choice for consumers. Such benefits, in turn, work their way through the economic system and help to improve supply conditions for many other products. Thus, even if some prices rise during liberalization, fo...
1 comment
Read more

How have customer benefited by increased competition after liberalization and globalization?

Definition:- The Liberalization and Globalization. India under its New Economic Policy approached International Banks for development of the country. These agencies asked Indian government to open its restrictions on trade done by the private sector and between India and other countries. LIBERALIZATION The basic aim of liberalization was to put an end to those restrictions which became hindrances in the development and growth of the nation. The loosening of government control in a country and when private sector companies’ start working without or with fewer restrictions and government allow private players to expand for the growth of the country depicts liberalization in a country. OBJECTIVES OF LIBERALIZATION POLICY To increase competition amongst industries. To encourage foreign trade with other countries with regulated imports and exports. Enhancement of foreign capital and technology. To expand global market frontiers of the country. To diminish the debt bu...
1 comment
Read more

how firms can cope up with changing technological environment

How can the firms cope up with changing technological environment? Introduction:- Technological environment refers to the state of science and technology in the country and related aspects such as rate of technological progress, technological arrangements and application of new technology etc. A firm may have to dramatically change their operating strategy as a result of changing technological environment. Concept:- So for the purpose of coping up with the drastically changing technological environment the firms can follow the following 8 steps:- 1.  Identify current loopholes: no technology should be implemented before identifying the needs. First find out what is not working in the organization and if it is obsolete technology then change is required to be implemented. 2.  Select the right technologies: select the technology which is relevant to your business, has worked for your competitors and is easy for your employees to catch on. 3.  Inv...
1 comment
Read more