The Business Case for Technology Investments

During these times of change business may have to change its orgainsation, operation and its nature to deal with the challenges of each stage in the business life cycle. For business to be successful they must constantly develop and change strategies to deal with the growth of the business or the life of the business may be cut short.

One frequently asked question in business today that is least answered is, as stated by David Chaudron, PhD (2003), “What can we do to make our business flourish, survive and grow?” With the rapid changes in technology and the rise in the globalization of markets, we must have a game plan in place for adjusting to these changes. It has become increasingly difficult to predict what is going to happen, and there are thousands of obstacles and opportunities along the way. To add to the confusion, there are thousands of products, solutions and methods for dealing with these changes. With many brands, sizes and varieties it is very difficult to choose what is best for your organization. Add to that,

As we head into the future, it important for any business organization to be prepared. The evolution of business technologically is rapid, and it’s important to

In this ever-changing modern day business environment, organizations should always be ready to adapt to the ever-changing concepts and customers’ needs. Both internal and external factors influence the kinds of changes that take place in any business or organization. As of the complex adaptive systems, in order to keep up with the constant upcoming changes, they need to keep on revising their goals and objectives. They can do this by assimilating to any current changes present in society.

As the world economy and technology continue to change at a rapid rate, the costs of doing business inadvertently also

Businesses today operate an environment that differs greatly from anytime millennia, centuries or even decades ago. The pace of businesses has increased exponentially with the continuous improvement of information technology, telecommunications and geolocation supported by satellites and progressively more efficient modes of transportation and mechanization. The ability to move products globally overnight, increasing levels of automation, and collaboration instantaneously via virtual means has forever changed and reduced traditional barriers businesses face while creating a myriad of new challenges, risks and opportunities.

Businesses continually adapt to a changing environment to maintain their market position (Appelbaum, Habashy, Malo, & Shafiq, 2012; Biedenbacha & Soumlderholma, 2008). Change is inevitable considering the current rate of technological advancement and the growth in global competition (Appelbaum et al., 2012; Armenakis & Harris, 2009; By, 2007). Increasing competition and the need for strategic flexibility and globalization is affecting almost every organization today, regardless of size, market, focus, and so on (Jaros, 2010).

The implementation of technology for a business is the perfect alternative for maximizing profits by minimizing costs of production. As technology does not require a wage payment and can have limitless performance at work, machines can easily replace a large percentage of personnel as hand labour is not as efficient as the work a machine can do compare to a single person. This is why technology is a more profitable way of production, reducing the total costs in order for the firm to maximize productivity at the lowest possible cost, resulting in a profitable

When explaining the technology development life cycle (TDLC), it is necessary to include the technology transfer process (TTP) and the funding sources that are out there. Without discussing all three of these areas it would be difficult to understand how an idea for an invention makes it to being a household item. The role of the TDLC is to show how a technology develops during each of the five stages. The TTP shows how the technology transitions between these stages when ownerships of the project changes. Lastly, where the funding comes from and why investors stop investing.

In response to this problem, the purpose of this paper is to increase awareness of the possibilities of investments in research devolvement, along with success stories of companies who have seen success in taking on new technology, along with that discussing strategies that can help the business succeed before adapting technology and after adapting new

Within the global business environment one thing is constant and inevitable, the need for change and the effort and focus that it requires. The need for change can be attributed to various factors; two that immediately come to mind are globalization and advancements in technology.

As technology continue to refine how products and services are delivered to consumers, competition among industry participants becomes more refined. Organizations that are able to keep up with changing technologies become leaders while those that are not fall behind. Mergers and acquisitions are increasing while causing small businesses to sell out or seek partnerships and cooperatives in order to remain competitive and relevant.

1. What factors contribute to the rapid pace of change in business? Is the pace likely to accelerate or decrease over the next decade? Why?

1. The most significant challenge to business success you see in this rapidly changing global economy;

At the same time to the extent that our individual lives have changed, the business world has altered practically to the point of being unrecognizable in the past few decades. Innovation - and we mean the developments in correspondence and data Technology- has changed the face and the pace of business.