Technology implementation in business has impacted the phase of business in the contemporary world. Innovation and e-commerce control the market locally and internationally, pushing entrepreneurs to contemplate positions on adopting or rejecting the trending issue. On the one hand, Nuseir (2020) holds that incorporating technology in organizational management has made businesses more accessible and competent. On the other hand, Ruan (2020) suggests that the increased demand for innovation in business risks job cuts for human labor and raises corporations’ dependency on machines. The analysis of the pros and cons of the advancement of technology in organizational management exposes learners to the understanding of the need for mechanization in business.
Automation benefits management in many ways. First, the adoption of computers in business reduces expenditure. According to Savolainen and Collan (2020), computer-aided organizations save labor costs because most work is programmed. The production rates of companies adopting high-end technology in running activities are much higher than firms relying on physical labor (Nuseir, 2020). Unilever, for example, recorded unexpected profits during the coronavirus pandemic after the installation of technical engineers in the manufacturing of Margarine. The value of production increased by 2.7% with the retrenchment of workers to a lesser number (Savolainen & Collan, 2020). As a result, technology is important because it reduces the use of limited resources for production.
The debate on the use of technology in business remains a controversial topic worldwide. Individuals and organizations who can afford the framework of management praise the effort of machines while growing business sees the approach from a negative perspective. However, the report supports the implementation of technology in business because it increases revenue streams, improves data security, raises business agility, and offers better financial saving schemes.
Nuseir, M. T. (2020). Potential impacts of blockchain technology on business practices of bricks and mortar (B&M) grocery stores. Business Process Management Journal, 27(4), 1256-1274.
Ruan, W., Zhang, S., Liu, C., & Li, Y. (2020). A new path for building hotel brand equity: The impacts of technological competence and service innovation implementation through perceived value and trust. Journal of Hospitality Marketing & Management, 29(8), 911-933.
Savolainen, J., & Collan, M. (2020). How additive manufacturing technology changes business models? – Review of the literature. Additive Manufacturing, 32(5), 101-167.