Technological Advances And Its Impact On Business Environment

ings of 4.5 or higher. There is general consensus that they have reached the point of diminishing returns and that further investing to

As the above paragraph mentioned how clients search about businesses and how can they reach them by using internet. The internet is very useful for companies and helps to them to communicate with their clients, this is achieved by sending emails to advertise about the new products so the customer will find that the company is interested on him/her and updated about their latest products. This will strengthen the communication between them, from there companies will be able to build good relationships with clients. Internet did not only help communication within local companies but also with big international companies by using virtual communications. Virtual communication can be very helpful for example when holding a virtual meeting between companies in various countries when the only problem to be solved is the time difference. Companies found that it very helpful as it saves their money. And as virtual communication also saves time when companies are trying to discuss business deals, all have to do arrange a certain time and the can use applications like skype.

Bender, A., Howell, A., Lavin, A., and Torgerson D. Wal-mart.com: A Case Study in Managing Technical Transitions. Retrieved on November 12, 2012 from http://people.duke.edu/~dat6/Wal-Mart.htm.

Operating a retail store with modern technology provides seemingly endless benefits for the retailer and enhanced capabilities and access for consumers. This concept is particularly true for retail stores that also operate online electronic commerce stores. However, technology grows and evolves so fast and effectively that what is currently considered "modern" will soon be considered "legacy". To keep up with technological developments and maintain a competitive level of speed, accuracy, and accessibility often favored of technological advances, organizations often have to implement a plan to make a change.

There comes a time in every organization when certain ineffectiveness and inefficiencies disrupts business operations. These ineffectiveness and inefficiencies cause companies to suffer in the quality of service, products, reputation and ultimately, profits. In today’s economy, companies of all sizes and industry need to continuously be improving their way of operating their business in effort to remain competitive in today’s market place.

Wal-Mart’s innovative leadership includes management teams using Smartphones and state-of-the-art monitoring systems. These innovations allow management to lead their staff successfully no matter where the managers are. The controlling function of management uses closed monitoring in-store systems, innovative approaches, and computers in the stockroom. Wal-Mart has enacted checks and balances and control of incoming supplies allowing stores to maintain fully stocked shelves to serve consumers better (internal innovations).

The new economy, characterized by sophisticated technology, global communication and “knowledge as a commodity” demands a great deal from organizations that intend to remain competitive. Wal-Mart corporation does not just compete in their field, they dominate it.

A successful organization responds intelligently to factors which precipitate change. Economic climates, political trends, changes in consumer demands, management policy or structure, employment levels and financial resources all these elements are constantly at play to ensure that organizations clinging on to static structures will ultimately lose out. But change is a dynamic and alarming thing and HRD must address how to manage it positively, so that employees give their support and the positive goals set are worked towards with enthusiasm. Research shows that the success rate for implementing major organizational change is quite low, for several reasons. First, asking organizations to change the way they conduct their

As technology continues to advance, the accounting profession needs to adapt in order to continue providing the most value to our clients. Technology has begun to change the way companies are doing business. The technology has given executives the tools to better understand their data. Decisions are no longer based on theory, but on data analysis leveraged by using algorithms. These algorithms allow organizations to understand trends and patterns based on historical events.

The modern filmscape is best defined as a coin with two sides. On one side it seems to be in a state of constant innovation. Where before the filmmaking took big equipment and tens of millions of dollars to tell even the smallest story, we are currently in the wave of the DIY filmmaker, those who are able to create and produce unique stories without the backing of large studios. These technological advancements have made it easier for filmmakers to create content that showcases their view on the world, and can be shared on a number of platforms, from social media to mass, and form a phone to a big screen. While these advancements may signal a new model for entertainment where anybody who wants to can have a say, the sad truth is that this mindstate is far from the truth. While industry new circuits may herald the renaissance of small directors making it big, a analysis of these directors will come across strikingly uniform. An overwhelming majority of these filmmakers are straight white men, which has been the industry norm in Hollywood since it’s inception of the film industry. In a way smaller bunch hanging out in the outskirts of Hollywood we find our black filmmakers. Exceptions to the norm from the past such as Oscar Micheaux, Melvin Van Peebles to more recent examples such as Spike Lee and Tyler Perry. These men worked long and hard to tell the stories they wanted to tell, about the struggles of being black in America. While these men are seen as mostly successful, it

Through extensive analysis from the customer satisfaction surveys, and research from the satisfaction task force, Company X found three major problems areas. The company's programs reflect poor quality, the development times are taking longer than the projected due dates and a small portion of employees are discrediting the company name and values. Each of these problems has contributed to the main problem; the increasing rate at which Company X is losing customers and revenue.

Over the last ten years, technology has become vital in most America households. However, keeping up with the changes has proven to be a daunting task for the average person (Cann, 2016). When evaluating trends in technology and their potential impact on the future, one’s focus turns to the things that impact daily lives while simultaneously empowering people to do more. The economic impact of technology in the areas of transportation, healthcare, and cyber security is undeniable as will be made clear by the examples presented herein.

Founded in Taiwan in 1972, today CX technology is a leading supplier in cold forging and plastic injection components and parts. Originally, CX technology produced bullets and bicycle parts, however, this had changed due to shift in consumer demand towards speakers and component parts exclusively. CX Technology had the ability to deliver specific products on time, which earned the firm very significant recognition over the years. They had earned a name for themselves based on their reliability and high quality products, most of their sales revenue came from satisfied repeat customers. In 2007, Chairman Albert Ting had determined that changes needed to be made at CX Technology. He had determined that revenue was reasonably stable, however, the rate of attaining new businesses was not reassuring. CX was a leading supplier in cold forged components for speakers, however, these were a commodity product, and furthermore the supply chain was capable of possibly being consolidated. Ting needed a plan in order to secure CX Technology’s future, he needed to diversify and determine a way to develop the business.

We are living in a rapidly changing world. It’s amazing how digital transformation reshapes every aspect of business. Decision-makers should always be asking themselves: What’s new? What’s next? What’s better? What technological trends will impact our business? How might the way we work, hire and collaborate change in the future? These are the questions that need to be asked inside organizations because the industries of the future, driven by artificial intelligence, robots, big data, the Internet of Things, will shape the New Economy. At my company, all employees need to be “technical” in order to succeed in their roles. We have to make tough decisions on which tools to allocate budget to, and which technologies will be best to drive revenue. Thus, it’s more important than ever to have the proper training in technology management, even for those not working in an IT department.

There have been a multitude of changes in management practices that have occured in the recent past within the various companies and corporation that help both this country and world run efficiently by creating products and resources that help benefit consumers. Many of these changes have had big impacts on topics such as efficiency and management within businesses and big impacts on achieving and maintaining a competitive advantage in the marketplace. Without having these changes in management many companies would struggle to see themselves grow to their full potential and provide the utmost customer service they can provide to their consumers, who play a large role in their success.