Nature of management and new technology - Essay Example

Change in management Change in management Rapid technological changes necessitate corresponding transformation in organizational management structures. New technologies change inter-firm and intra-firm business processes as managements strive to stay in competition and maintain efficiency (Curley & Formica 2013, p. 114). It is crucial to highlight that in as much as certain technologies create efficiency and improve on revenues, some technologies create challenges as they make the old way of doings things irrelevant.

There are notable management changes that occur in the presence of new technologies and contemporary business media such as social media. To begin with, management has to co-create value with customers (Hill & Jones 2009, p. 96). This is because organizations are existing an age whereby consumers possess considerable information about given products and services. Organizations should utilize this awareness to collaborate with customers on the creation of products. In the current set up, organizations can use various tools in communicating with customers.

For instance, the e-mail messaging system is helpful in sending information and receiving immediate feedbackIn addition, the management will consider an open administration framework. Innovation in communication media has given rise to various tools, which can be employed for correspondence (Arthur 2009, P. 56). This allows the enlargement of departments since it is easy to have correspondence among a large group of people. The management has become more visible to employees, as managements can easily utilize communication applications such as WhatsApp groups in communicating information to a large group of individuals simultaneously.

It also becomes easy to immediately receive feedback from a corresponding number of people. More essentially, managements will have to form collaborative partnerships with stakeholders in suppliers in achieving efficiency. BibliographyArthur, B., 2009. The nature of technology: what it is and how it evolves. New York, NY: Simon and Schuster.Curley, M., & Formica, P., 2013. The experimental nature of new venture creation: capitalizing on open innovation 2.0. . New York: Springer Science & Business Media.Hill, C., & Jones, G., 2009. Strategic management theory: an integrated approach strategic management series.

Mason: Cengage Learning.