Technology, Globolization and Change Your Institution Date According to Bettis and Michael, a rapid alteration is unfolding in regard to business strategies and also the nature of competition especially in the last decades of the twentieth century. This competition and change in strategies results to a new or re-invented competitive landscape mainly witnessed in the contemporary twenty first century…
In response to technological revolution, new approaches and tools are developed to counter the emerging challenges. For instance, new concepts of manufacturing are being implored to enable multi production in industries which in turn translates to high productivity.Additional, computer technology and microprocessor integrated into several products enables software differentiation. Computer systems and networks also greatly alter management approach to issues. Business is increasingly getting globalized courtesy of latest communication technologies which overhaul equipment and logistical technology.Morover, technological factors and trends have contributed to a number of factors. Notable among these factors are aspects such as, rapid increase in rates of technology diffusion and change, age of information, intensity in terms of knowledge increase and lastly the sprouting of positive feed back in industries. In summary, development of new mindsets, tools, organizations and concepts have now become a prerequisite for every manager. In order to navigate through the new competitive landscape, further research is required to enable managers be at a better position to handle and respond to the new emerging trends. For a company to withstand the various challenges that emanate from the new competitive landscape, the management can put in place a variety of measures to be at par in terms of responding to these challenges. As a manager, I would recommend to the board of directors to adopt the following measures. Firstly and as recommended by Bettis and Michael, the staff should be able to develop a new mindset on how to approach business. This can be made possible when the company initiate extensive programs and also through invitation of resource persons. Extensive programs enable staff members to learn more about the emerging challenges and the likely remedies that can be adopted to counter the various challenges. On the other hand, Invitation of resource persons that are professionals in respective fields of technology such as software and e-marketing may also enlighten staff members about contemporary trends. New tools should also be developed to enable the company counter the challenges brought about by technology. This can be done through introduction and embracing technological systems such as within a company’s communication department and logistical departments. New concepts should also be embraced to replace the old ones. For example, slower methods of communication can be replaced with more effective and efficient ones. New technological aspects such as tele- conferencing should be adopted by a company if possible. This is because such a concept is not only convenient but also saves time too. As suggested by Grubler, Bettis and Michael, I would recommend to the Board of Directors to embrace research as an essential component of the companies objectives. For example, how technology can be used to meet customers satisfaction and increase efficiency in terms of timely and effective service delivery. Research would also enable the company to establish what is still relevant and what has been by passed by season in terms of technology brought about by the new competitive landscape. For instance, a telecommunication company should inject more funds on mobile phone research other than land line because it is contemporary and convenient to ...
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