How Technology Can Be Competitive, Disruptive Or Productive? Essay

How Technology Can Be Competitive, Disruptive Or Productive? Essay

Length: 884 words (2.5 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

Forces in business can be competitive, disruptive or productive. Harnessing external forces and aligning your business strategy to them determines those who find profitability in their business. In this analysis three forces are examined that help a business determine its success: Changes in cost and efficiency, The Internet and new e-commerce opportunities, and Regulatory influences and government policy changes.
The analysis will describe how these forces could be positively influenced by leveraging technology for a banking institution such as Bank of America. Bank of America is one of the largest banking institutions in the world offering many financial services in wealth and banking services. The analysis summarizes how technology can play a role in increasing profitability for this business. In analyzing how the three forces have influenced the success of the organization, the ways in which forces play a role in the banking industry for example, will be evident.
Identify How the Selected Forces Can Be Positively Influenced by Leveraging Technology
Technology if harnessed and aligned properly with corporate strategies can provide big boosts to business in the form of efficiencies, cost reduction and customer relationship management (CRM). A change in cost and efficiency is a force that can be influenced by technology for example by changes to networking such as virtualization, Software designed infrastructure (SDI), and Software designed networking (SDN) and network virtualization functions (NVF). These areas which are too broad to cover here leverage technology to drive and promote cost and efficiency changes to the technical and encompassing business model.
These same technologies and others positively influence the busin...

... middle of paper ...

...e technology planning process and integrating the process with the corporate planning. Another way to maintain the technology plans once within the business plans is to respond to changes in the industry by evaluating and adjusting the plan regularly with input from said business groups.
Summary and Conclusion
In this analysis three business forces were examined that help Bank of America determine its success. Identifying strategic business advantages and detailing technology planning process integration with business planning can be accomplished through business unit inclusion. Technology plays a role in creating business advantages through provisioning that drives cost savings and enables efficiencies gained. These forces can be influenced by leveraging technologies that create opportunities to extend the existing business channels and models to a global audience.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Walmart : Competitive, And Customers Demand Increase Essay

- With the fast development of technology and globalization, the market becomes more competitive, and customers demand increase. As a result, companies such as Walmart, Target, Amazon, Costco, and Kroger were forced to implement new strategies and invest billions of dollars in technology to face competitiveness, increase market share, ensure leadership positioning, attract and retain its customers. Walmart innovation strategy relies on disruptive innovation. Consumer demand is changing all the time, and Walmart responsibility is to connect its products with customers whenever and wherever they are, so they can save money and live better (Walmart, 2016)....   [tags: Wal-Mart, Hypermarket, Supermarket]

Better Essays
724 words (2.1 pages)

The Principles Of Disruptive Innovation Essay

- Principles of Disruptive Innovation: Christensen proposed principles of disruptive innovation as a framework for managers to understand them rather than overcome the change occurred because of disruptive technology. He explains the strength of the rules and emphasizes the in the point of people who engage in disruptive innovations from a new market point of view. 1. Companies rely on customers and Investors: Companies tend to listen to their best customer, to stay in business they kill new opportunities and give customers what they need....   [tags: Innovation, Marketing, Disruptive technology]

Better Essays
1609 words (4.6 pages)

Essay on The Theory Of Disruptive Innovation

- “If it ain’t broke, then don’t fix it!” It’s an adage that we have heard time and time again. Some blame the stagnant reasoning on tradition. Others are more honest and just refuse to be the ones who ruffle feathers. Some are just bystanders as a whole. No matter what role each person plays in the organizational scenario, the results are still the same. There is no progress. This is something that is recognized by both Christensen and Barker in their views to create a better process. When comparing these two innovators, I think that is important to note that neither speaker applies their theories of innovation to just one business sector....   [tags: Disruptive technology, Innovation, Medical record]

Better Essays
729 words (2.1 pages)

How Useful Is The Theory Of Disruptive Innovation? Essays

- No to TDI – Opponents: Although there are many naysayers, the one most opposing view on TDI that gripped my attention came from Andrew King and Baljir Baatartogtokh, in their article, “How Useful Is the Theory of Disruptive Innovation?”. King and Baatartogtokh did acknowledge the reputation of TDI in the business word; they however stated that the theory has not been sufficiently tested in academia. To make their points, King and Baatartogtokh decided to survey a number of experts, with majority in academia, on each of the 77 disruptions cases depicted in Christensen’s “The Innovator Dilemma”....   [tags: Disruptive technology, Innovation, Marketing]

Better Essays
1028 words (2.9 pages)

Revolution On Information Technology ( It ) Affects Competition By Changing The Alignment Of The Industry And Rules Of

- According to Porter’s article, revolution on information technology (IT) affects competition by changing the alignment of the industry and rules of competition. This makes competitive advantage in ways for companies to exceed their competitors and bring businesses in place. IT spread all through the value chain, which are activities performed in business at a low cost, and helped perform optimization functions for companies. This allowed the capture of information that wasn’t accessible before. The value chain are activities that have physical and information processing components....   [tags: Disruptive technology, Innovation, Marketing]

Better Essays
1532 words (4.4 pages)

Essay on Disruptive Technology Article Review

- “DISRUPTIVE TECHNOLOGIES” ARTICLE REVIEW The development of technology has been serving for the development of the economic and society for long time. The technology not only bring the competitive advantage to the economic but also it create more challenges that make companies to stay update and awake with new technologies all the time if they do not want to left behind with their competitor. The most difficult organizations have been facing, special with the leading companies that is how to recognize which new technology is potential and bring more benefit for companies....   [tags: Technological Development, Economic Advantages]

Better Essays
1511 words (4.3 pages)

Technology Theory : Technology And Innovation Essay

- Technology Mudslide Hypothesis : This term was first introduced by Clayton M. Christensen in 1995, to discuss the phenomenon that emerges and might result in large firm’s failure as the result of technological innovations. Two concepts of disruptive and sustaining innovation was developed to explain two main categories of innovation. Sustaining technology or innovation refers to an innovation that does not create a new market or value and only improves the existing technology allowing the firms to compete against each other’s sustaining innovations....   [tags: Disruptive technology, Innovation, Marketing]

Better Essays
1493 words (4.3 pages)

Technology Without A Only Productive Learning Environment For Their Students

- Technology without a doubt plays an important role in educating the young generations of the nation. Technological advances allow the educators to create a more productive learning environment for their students. Moreover, because we live in a competitive world, one must be proficient in the use of technology such as a computer, programs, and software. With such great emphasis in technology literacy, teachers are required to introduce this tool to the students at a very youth age. In order to have a better understanding of the use of technology in the classroom, I observed at J....   [tags: Education, Teacher, School, Pedagogy]

Better Essays
729 words (2.1 pages)

Organizational Culture and Disruptive Innovation Essay

- Organizational Culture and Disruptive Innovation. The term organizational culture refers to the behavior of employees of an organization. It includes the various systems, values, policies and strategies of an organization. The organizational behavior plays a very significant role in dimensioning an organization and deciding its future. Before the launch of the strategic review, BT was the only leader in the UK telecom market and people accepted them blindly. But around 2006, when Ofcom introduced the telecommunication regulatory act, a number of competitors emerged and as a result BT started losing its shine....   [tags: management programs, market]

Better Essays
847 words (2.4 pages)

Impact Of Innovation On The Healthcare Industry Essay

- Introduction According to Steven (2010), ideas are a connection of networks. These networks are created in the most unconventional places such as coffee shops and conference rooms. Most good ideas happen when people congregate together and share their interests, their mistakes. A lot of important ideas take time to come to fruition. This is because resources may be limited, not enough interest is generated. This paper is discuss the different sources of innovation, the trends and forecasts that can affect the healthcare industry and the role that disruptive innovation plays in the healthcare industry....   [tags: Innovation, Technology, Disruptive technology]

Better Essays
1088 words (3.1 pages)