Technological Changes and Business Success

Who does not appreciate the benefit technology in business? Well, I guess none. Gone are the days when business success was entirely limited to some minor grandiose reasoning of top-level business managers without the help of technology has we can see today. Just cut into the current business world and see how technology is making redoubtable inroad into business success. It actually defines the difference between business failure and success.

It’s now 10 years down the line since I started my first business ever. I am proud to be the owner of a business that since then has grown into a huge employer and economy contributor in my dear country. I have to give my sincere gratitude to the influence of technology towards my success in business. Just like me, many businesses people out there have boldly described technology as the main driving force in most business around the world. Even the smallest business in town can testify the benefits of technology in business. It has made any business activity very simple, faster and cost-effective.

From small business planning to implementation of massive projects by multinational companies, technology by all means takes the centre stage. Just to start with; which business in the world today does not require computer aid either directly or indirectly? I guess not even a single one. The availability of computer applications such as resource planning and scheduling software enable many business organizations to critically and carefully identify and allocate resource more efficient than ever before. With resource management computer applications, an organization with several departments and branches all over the world is able to coordinate all its resource with just the click of the mouse. Thanks to the existence of internet connection which is also another explanation of what exactly technology is.

Keeping records of all assets and human resources may not be possible without the in cooperation of technology in the business. For instance, a company which has over 2000 employees has to deduce a means of acquiring effective human resource management software that can be used to smoothly and easily handle all these data. Remember resources are limited and if not used wisely a business can also incur huge losses instead of making profits which is always its primary objectives. On the other hand, selecting the right resource for the appropriate project may prove quite difficult especially if there are so many resources to choose from. However, with resource scheduling software, a product of technology, every resource be it human or just asset can be easily identified and assigned to the right project within the required time frame.

In regards to the gradual advent of technology superhighway, business people have gained remarkable access to technological advancement viable for the success of their organizations. Changes in modern-day business have become so adamant that not even a single business is ready to do without it. Today, businesses use computerized point of sales to sell their products more easily and efficiently. In addition technological effect in business can be felt anywhere in the world. Marketing has just become another and cost-effective business activity. With several social networks all over the internet, sellers can meet numerous number of potential buyers without physically getting in touch with them. Through this, businesses are able to make more profit curtsey of technology.

In summary, the continuous advancement and development of scientific business innovations now favours both small and large businesses. However, these businesses should ultimately put into consideration both their future needs as well as immediate ones so that they can be able to plan effectively for their success. Any business that effectively in cooperate technology in its day today running is bound to succeed.

What Information Technology Management is About

The world is very much dependent on information technology because this is where businesses can get all of their information to customers or other consumers. Information technology is the study, development, and implementation with support of information systems. Information technology management is another step forward which takes the technology as a corporate resource where a company can organize it into an important tool to get their information to all targets. It can be used to help with business to gain new customers or to keep people abreast of all new things happening in the company.

Businesses who employ it must be in close relations with IT management in order for their businesses can use it to its optimum effectiveness. Topics that need to be understood to make information technology work is strategic planning, financial management, and risk analysis.

With this area of expertise becoming so much more important in this world, people can study this area at length. There are bachelor, masters, and doctorate degrees. There are many colleges who offer these courses. There are even courses online that allow some people with current jobs to take an online course at home. It helps people to accomplish a goal without adjusting their lifestyle too much.

To more closely look at the role of an IT manager, they must know how to plan, design, select, and use the new technologies that are coming out to integrate into the business that is employing them. Therefore, it is the ability of a person to effectively use the systems available to make it work for a business.

There are many resources online to find out more about this topic. There are schools who can help people decide if this is the career path that they would like to take. Businesses can get information on IT consultants who can help improve their businesses with setting up their system, and implementing the most economical system with up-to-date software.

There are journals available on all of the latest topics. They have some of the best people in the field keep other managers informed of new technologies being tested.

There can be specialists in different businesses who need information technology. Technology is advancing in every field, and it may take more expertise to implement information technology in certain fields because each field has its own specified systems.

Information technology management is a necessary field as our society continues to grow. Information technology are a set of technological systems which groups or businesses employ in order to spread the information which they produce or in turn, collect. Businesses may not be information technology businesses and need the assistance of those who are experts in the field to implement it into their business. IT managers are these people, and they can help to study a business and build the network of a business with the most economical and up-to-date systems. To become an IT manager, one can go to college advisors to find out if this is the field for them. There are many programs across the country.

Disruptive Technologies – Part 1: How Music Editors Are Related To Steam Engines

I am not into technologies, those that change so ever fast, and always. But I do observe technological trends, along which the development of scientific applications revolves.

And of all trends, perhaps disruptive technologies are the defining path of industrial implications, a linear passage that technological progress almost invariably follows. Though the concept of “disruptive technologies” is only popularized in 1997 by Harvard Business School Professor Clayton Christensen in his best-seller “The Innovator’s Dilemma”, the phenomenon was already evidenced back in 1663, when Edward Somerset published designs for, and might have installed, a steam engine.

As put forth by Clayton Christensen, disruptive technologies are initially low performers of poor profit margins, targeting only a minute sector of the market. However, they often develop faster than industry incumbents and eventually outpace the giants to capture significant market shares as their technologies, cheaper and more efficient, could better meet prevailing consumers’ demands.

In this case, the steam engines effectively displaced horse power. The demand for steam engines was not initially high, due to the then unfamiliarity to the invention, and the ease of usage and availability of horses. However, as soon as economic activities intensified, and societies prospered, a niche market for steam engines quickly developed as people wanted modernity and faster transportation.

One epitome of modern disruptive technologies is Napster, a free and easy music sharing program that allows users to distribute any piece of recording online. The disruptee here is conventional music producers. Napster relevantly identified the “non-market”, the few who wanted to share their own music recordings for little commercial purpose, and thus provided them with what they most wanted. Napster soon blossomed and even transformed the way the internet was utilized.

Nevertheless, there are more concerns in the attempt to define disruptive technologies than simply the definition itself.

One most commonly mistaken feature for disruptive technologies is sustaining technologies. While the former brings new technological innovation, the latter refers to “successive incremental improvements to performance” incorporated into existing products of market incumbents. Sustaining technologies could be radical, too; the new improvements could herald the demise of current states of production, like how music editor softwares convenience Napster users in music customization and sharing, thereby trumping over traditional whole-file transfers. The music editors are part of a sustaining technological to Napster, not a new disruptor. Thus, disruptive and sustaining technologies could thrive together, until the next wave of disruption comes.

See how music editors are linked to steam engines? Not too close, but each represents one aspect of the twin engines that drive progressive technologies; disruptors breed sustainers, and sustainers feed disruptors.

This character of sustaining technologies brings us to another perspective of disruptive technologies: they not only change the way people do business, but also initiate a fresh wave of follow-up technologies that propel the disruptive technology to success. Sometimes, sustaining technologies manage to carve out a niche market for its own even when the disruptive initiator has already shut down. Music editor and maker softwares continue to healthily thrive, despite Napster’s breakdown (though many other file sharing services are functioning by that time), with products like the AV Music Morpher Gold and Sound Forge 8.

A disruptive technology is also different from a paradigm shift, which Thomas Kuhn used to describe “the process and result of a change in basic assumptions within the ruling theory of science”. In disruptive technologies, there are no assumptions, but only the rules of game of which the change is brought about by the behaviors of market incumbents and new entrants. They augment different markets that eventually merge. In Clayton Christensen’s words, newcomers to the industry almost invariably “crush the incumbents”.

While researching on disruptive technologies, I came across this one simple line that could adequately capture what these technologies are about, “A technology that no one in business wants but that goes on to be a trillion-dollar industry.” Interesting how a brand new technology that seemingly bears little value could shake up an entire industry, isn’t it?

You are probably asking, why then that no one wants it? Or how true is the money claim to these disruptive technologies? And if it is true, what are the implications to the business practice? How do market incumbents and new entrants behave?

The scope of this article could only let me take the first question. Well, it is not that dominating companies are not visionary to see a disruption is coming. They can’t. A disruptive technology is inherently not attractive initially; no one could see how Napster could boom and lead to the thriving market of audio softwares like the music editors and mixers, except the disruptors themselves. Even if one manages to foresee it, the “Innovator’s Dilemma” is there to keep them from acting.

And as the books show, technology has always evolved in waves of disruption.