Pasang Tamang Manzil Khanal Good Morning Every one Pasang Tamang Manzil Khanal

Technological Enviroment Principle Of Management

Introduction Technology is a method or process of converting inputs into outputs. Simply, Technology is the method which makes things easier and effortless to perform the task. Technology is ever changing and is growing rapidly in society and it has a crucial impact on the success and prosperity of business organization. For e.g. the development of mass communication and internet is the outcome of technology.

Components of Technological Environment 1.Nature of Technology On the basis of nature, size of business, organization implement. Technology may be manual or automatic . In manual, low investment is required but operating cost is more. In automatic, initial investment is required ,but the operating cost is low

2.Pace of technological change Technology is dynamic and ever changing . The change in technology leads to immediate impact in the business. It creates both opportunity and threats to the business firm. Business can catch a great success if it can grab the opportunities created by the changing technology.

3.Technological transfer Every organization may have some sort of technology that is operated in production and distribution process. Technology is dynamic that’s why no business is self sufficient. Mostly developing country transfers the tech of developed countries organizations. It can be transferred through joint venture with multinational companies, direct technical assistance, project support, training and publication

4.Research and Development Customers demands change rapidly on the basis of change in fashion, design, quality, price etc. It is essential to invest a certain part of the budget of the firm in research and development work. It is the function of the managers to understand the needs and demands of the customers on the basis of time.

Advantages Of Technology 1.Speed and Flexibility Technology allows advertisers to respond quickly to changes in the marketplace. Different markets can be targeted with differently themed promotions using digital technology, without the prohibitive costs associated with traditional print technologies. A slick magazine advertisement can be put together in a day using graphic design software and sent via email to the magazine.

2.Increased reach Using information technology, a marketer can reach an enormous number of people. Networked technologies give millions of people instant access to each other, and this fact is being exploited ever more actively by marketers trying to get their products into the public eye. While the Internet allows broad dissemination of advertising, other technologies facilitate its quick design and production. Photo editing and graphic design software enable artists to produce ads in a fraction of the time that would be required with older technologies.

3.Accuracy The technic used in the robotics makes it more faster and more accurate. The computer can be the best e.g. for the accuracy and speed With every innovations there is new technology and new features

Agricultural business: Uses of Technology Hotels: Robots in serving food Agricultural business: Pouring water in the crops Production/factory: Robotics in assembling the goods

Disadvantages of Technology 1.Unemployment Mostly advanced organizations uses high and new technology which leads to the unemployment The use of robotics leads to the use of less human resources. Small numbers of employees can accomplish the work of hundred people with the help of new technology.

2.Expensive As the new technology is more advanced and more featured but the cost is very high so, it is not possible for every business organization. Change in technology may bring a lot of issue in the organization.

3.Manpower If new machines are introduced new expertise are required The old manpower may not operate the new technology

New tech products Airbus A380 taking off Collecting Crops Drone pouring fertilizer Airbus A380 taking off Double deck with capacity of carrying 853 passengers. $436.9m

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