new technologyThe Advantages of New Technology for Businesses[Information Technology] The Disadvantages of Information Technology in Business
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Davidson, Ellis. n.d.. The Advantages of New Technology for Businesses.
Cuttingedge technology can create high benefits for businesses that are willing to be early adopters. This strategy, however, requires businesses to abandon technologies that never fully mature or that are themselves dropped by their parent companies. A nimble implementation strategy allows entrepreneurs to realize the benefits of new technologies while avoiding business workflow issues when a technology cannot survive in the marketplace.
Paradoxically, new technologies can be both a major source of expenses for your business, as well as a method of eradicating your biggest costs. Regular implementation of technology on the cutting edge means that sometimes you will need to abandon your investment if the technology ils to work, if it is defeated by its competition or if its parent company folds. On the other hand, some technologies completely change the cost structure for the service they provide Skype, for example, provides an inexpensive service that replaces both international phone calls and videoconferencing, which previously could cost thousands of dollars annually. Focus on the areas where you will see the biggest bang for your technology buck if a new technology succeeds but be ready to abandon the cutting edge if it cannot deliver on these promises.
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Diversity needs can require ongoing attention from HR departments.
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For a small business, a technology should not be evaluated on its own merits but rather for the ways its implementation will allow your business to accomplish things that are impossible for your competitors. It does not matter if a technology speeds up your manucturing process by percent unless that speed is key to penetrating a market that you cannot otherwise reach. A new technology that is disruptive to the overall marketplace but that will give you the firsttomarket advantage, is the best new process to consider.
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Davidson, Ellis. The Advantages of New Technology for Businesses.
[Business Technology] What Is Business Technology?
Davidson, Ellis. The Advantages of New Technology for Businesses accessed March , .
Ellis Davidson has been a selfemployed Internet and technology consultant, entrepreneur and author since . He has written a book about selfemployment for recent college graduates and is a regular contributor to Macworld and the TidBITS technology newsletter. He is completing a book on selfemployment options during a recession. Davidson holds a Bachelor of Arts in American civilization from the University of Pennsylvania.
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Most businesses, like most organizations, tend at first to use new technologies in very similar ways to the older ones that they replaced. But a cell phone is not simply a wireless landline phone it is also a device for rescheduling meetings on the fly, arranging for impromptu visits and avoiding congested traffic. Companies that saw mobile communications for these abilities had an immediate jump on companies that still organized around older telephone paradigms when cell phones gained widespread use. When considering a new technology, make an explicit list of underlying assumptions in your business model then see if the technology makes any of them obsolete.
[Information Technology] What Are the Advantages of Information Technology in Business?
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