Innovation and Change II Essay Example

  • Category:
    Management
  • Document type:
    Math Problem
  • Level:
    High School
  • Page:
    1
  • Words:
    433

A. Why is Technology Important in Business

  1. Technology has significant impact on the business performance. Despite the size of the business, technology has tangible and intangible benefit that will aid raising more money as well as generate the outcome to the client’s needs since, it affect the firm’s capacity to communicate with client which is mandatory in today business world. Presence of company’s website will facilitate easy access to company’s product by customers and thus, the communication will improve the company’s corporate image (Constantine Andriopoulos).

  2. Technology as well aids the business comprehend its cash flow requirements as well as upheld delicate resources like time as well as physical space. The store inventory technologies let the business owners comprehend the manner to which business is manage utmost in to control, the inventory holding cost (Mayle).

  3. Technology also creates a team dynamic within a business since workers at diverse localities have superior associations. Where the business manager may communicate with shipments director at diverse localities, tension and destruction are probable to exist. Many business operations are susceptible to threat on security as well as damage and consequently technology may be employed to safeguard the financial data (Mohini Singh). A business has the technological capability to research latest chances will stay ahead of its competitor. In order to exist in a competitive world, it should expand as well as purchase latest opportunities, technology permit a business to virtually tour into latest market devoid of cost of an administrative jet.

B. Potential Risk

Potential Risk

Consequence

System Malfunction

Delayed business operation and loss of information

Security risk

Access of vital information by hackers and hence loss to the school

Resistance to change

Loss to the school due to heavy capital venture on technology

Maintenance cost

The cost of maintaining the system might be high hence affecting net profit

C. Cost Benefit Analysis

Risk Exposure*Consequence*Likelihood

Consequence

Insignificant

Moderate

Very High

Moderate

Very High

Moderate

Implementation

Potential RISK

Jan-April

System Malfunction

Security risk

Resistance to change

Maintenance cost

D. Make resources

Potential Risk

Types of resource for Implementation

Responsibility level management

System Malfunction

Replacement with new ones

Upper level

Security risk

Change of password and use CCTV

Top level

Resistance to change

Educational training from expert

Lower level

Maintenance cost

Expert updates and maintenance

Middle Level

Works Cited

Constantine Andriopoulos, ‎Patrick Dawson. Managing Change, Creativity and Innovation. New York: Cingage Learning, 2008.

Mayle, David. Constantine Andriopoulos, ‎Patrick Dawson. London: John Wiley &Son’s, 2006.

Mohini Singh, ‎Dianne Waddell. E-business Innovation and Change Management. New Yorl: Cingage Learning, 2004.

Poole, Marshall Scott. Handbook of Organizational Change and Innovation. Sydney: Springer, 2004.