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Technological Impact on Business Environment

Technological Impact on Business Environment
Technological Impact on Business Environment and Society The tremendous technological growth that is being witnessed is made possible through extensive programmes of technological research being conducted by many types of researchers working within universities, business, and non-profit research organizations. Technological developments are strong and all pervasive forces of the business environment. Technology is the scientific knowledge to practical problems. Technology feeds on itself and it affects business in two major ways: Through its impact on society in general Through its direct influence on business operations and activities. Linkedin Profiles That Don’t Suck!: Learn the Insider LinkedIn Success Tactics That Will Have Recruiters Calling You! Technology and Economic Growth: Technology affects society. In fact, we feel its effect in our everyday lives. It affects economic growth, our standard of living and our culture. However, some of the effects of technology are highly beneficial and some detrimental. These effects on members of the society may in turn affect business practices. We are surrounded by so much of technology, that we take it for granted and usually do not realize how much it affects us until we have to do without electricity, water, transport or telephone. Technological developments have raised the standard of living. In spite of inflationary pressure and considerably a high degree of unemployment, generally families eat better, wear a wider variety of clothing, and live in more comfortable homes. Technology and Lifestyle: Technology also influences basic aspects of our culture, including religion, education, mobility, health care, art, language, laws and their enforcement. For example, technological advances in health care allow physicians to treat their patients in a virtual environment through video conferencing, which again is helpful in legal environment too for the judges to proceed with investigations on hard core criminals, who need not be produced before the court for security reasons. Creative Destruction: Every new technology is a force involved in creative destruction. Say, television hurts movies, synthetic fibers are considered rival for cotton fiber. The discovery of new technology even sometimes affects economic growth-TV with its high entertainment value takes away productive hours of mankind. Each new technology creates major long term consequences, which are not always foreseeable. How do you justify nations spending more money to develop missiles, nuclear weapons and bombs for the sake of security? Developing nations have to buy technology from foreign countries, as they are not resourceful in terms of capital needed for Research and Development, expertise, patents, licenses, and equipments and so on. This transfer of technology involves huge costs as a result of which a vicious circle is formed, in which weak technology creates dependence and dependence creates weakness. Conserve, Reduce, Recycle: The recent trend can be enumerated through this slogan, “Conserve, reduce and recycle”. The stress today is on clean production measures, advanced robotics, zero-emition vehicles, material recycling and alternative fuels and materials. This change towards love for environment by the technologists is a sure sign of positive...
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Leadership

Leadership
Leadership Profile of a successful leader Adaptive Capabilities:  Leaders need to radically change their mindset so as to stand the test of time; but the core leadership attributes like vision or creativity, intelligence, commitment, and a healthy dose of luck still continue to define the pre-requisites of success. Integrity of  Character is most important when talking about successful leadership. The philosophical undercurrent is that “Be Good, Do Good” and you will be good. The motive must be devoid of mistakes though there is room for mistakes in judgment. Leaders must have a clear vision and be able to communicate this vision to others so that it becomes a shared vision and everybody willingly contributes in fulfilling the vision.  Six ‘C’s or six criteria that determine a leader’s credibility  Conviction Character Care Courage Composure Competence Cross-Functional Expertise – Acquisition of knowledge should make a leader humble and flexible and gaining knowledge must be seen as a life long experience rather than collection of voluminous data or skills. A leader will try to apply his broad functional knowledge and expertise in the right places and the results will be definitely magnificent. A leader must look into the possible options rather than to plan, the possible rather than the perfect, involvement instead of obedience. Change is the only entity that remains unchanged and it is inevitable for the leaders to consider change as the core element of growth. With accelerated pace of change in the economic, political and socio-cultural environment, leaders not only need to acquire new knowledge and skills but they also need to unlearn many of the things that have out-grown their purposes. Leaders should follow the CODE OF PRIDE to motivate the workforce. P– PROVIDE FOR A POSITIVE WORKING ENVIRONMENT R– RECOGNISE EVERYONE’S EFFORTS I– INVOLVE EVERYONE D– DEVELOP SKILLS AND POTENTIAL E– EVALUATE AND MEASURE CONTINUOUSLY In large corporate organizations, the leader must be willing to share power and control so that leadership is encouraged at various levels. Successful leaders are those who are self-motivated by setting their own standards and compete with themselves. Innovation is the need of the hour What do you mean by innovation? Creating something new or modifying the old one. Here the term innovation implies the change in the “THOUGHT PROCESS” of leaders who are able to turn a crisis into an opportunity. Also called as “THINKING OUT OF THE BOX” where a leader finds new application for old ideas which cannot be discarded or dis-regarded. “You must learn from your past mistakes but not Lea(r)n on your past successes”. High achievers take moderate risks calculating the circumstances and they rely on their own abilities unlike low achievers who invariably like to minimize risks or take wild and irrational risks. Running a corporate business has become more like an experiment since we cannot control or predict the future. It is highly unstable and unpredictable. So leaders have to cope up with this non-linear force acting in the external environment building up pressure. Leaving things as they are can be just as predictable as changing everything, you lose or win both ways. Now let us look at some of the definitions of Leadership 1. “Leadership is generally defined as influencing people so that they will strive willingly towards the achievement of group goals.”- Koontz and O’Donnell 2.  “Leadership is the lifting of man’s visions to higher heights, the raising of man’s performance to higher standards, the building of man’s personality beyond its normal limitations.”- Peter F.Drucker 3. “Leadership is the ability to secure desirable actions from a group of followers voluntarily without the use of correction.”- Alford and Beatty 4. “Leadership refers to the quality of the behavior of individuals where by they guide people on their activities in organized efforts.”- Chester I.Bernard  Behavioral Commitments of a Leader: Challenging the process Challenging the status quo and act as radical change agents Inspiring others by being pioneers, instigators, navigators and learners Showing risk-taking...
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