How Technological Advancement Can Benefit The Management Essay

How Technological Advancement Can Benefit The Management Essay

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Regardless of what sector a company is a part of it will always be affected by change. Sustainability, technology and social trends have become a powerful influence on how a company grows and is managed. In this essay I will outline the various strategies that leaders and managers will have to adapt by 2020.

Because of the competitive nature of the corporate world having the technological advantage can mean the difference between success and failure. I will outline the benefits and drawbacks of technology and corporate and how various aspects of technological advancement can benefit the management.

Technology has advanced at a rapid rate and is evolving each day. This means that competitive advantage will be determined by how advanced an organisations hardware and software is [1]. This outlines the significance of investing in better equipped more knowledgeable IT departments and Computer courses for staff of both managerial and new recruit level. Keeping up to date is vital and thus the manager with the most knowledge of hardware and software will be more likely to succeed. Statistically only 30% of small businesses use cloud technology ( digital sorting) and 10% are not familiar with it. This shows that the inability to keep up with new developments can affect not only how a business is seen but how it performs [4].

However one of the biggest impacts on how corporations are is improved communication. Thanks to social networking sites and media outlets, communication has become faster and easier than before [2] . Individuals no longer need to meet face to face to discuss business strategies, have meetings and recruit employees. Many companies now conduct what is known as a “webcam Interview” during which both he candidate ...

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...elf [2] .As mentioned before a sustainable business requires and extended timeline for investment to pay off, however once initial investments are made they can result in long term profitability.

While there are many aspects such as social trends, economy, laws, technology and the environment that affect the way that organisations, managers and leaders operate, I have managed to outline the 2 main aspects that have already become driving forces that determine how many organisations in the world are run. While there are downsides to both Sustainability management and utilisation of technology within the corporate world, both make a significant contribution to another. In order for leaders and organisations to success in 2020 they will have to utilise both technology and sustainability as a means of promoting and developing their company.

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