Does Technology Make a difference - Essay Example

Does Technology Make a Difference? Task: Does Technology Make a Difference? Technology has become central in the lives of people. Technological advancement has transformed all the sectors. In this way, it has led to progression in sectors such as hospitality, education manufacturing and medicine. Evidently, the transformations have significant impacts on such industries. The impacts are both positive and negative. Technology provides additional opportunities while it also outdates certain aspects of the industry.

Overall, the advancements in technology have resulted in massive improvements in other industries (Richter, 1982). Technology has transformed communication beyond the imagination of people. Currently, communication has become a massive industry owing to technological advancements. Technological advancements have increased the communication speed immensely. Additionally, it has enabled diversification of the communication sector. Therefore, the communication sector has countless facets. Communication serves a catalyst of other industries.

The advancements in communication have necessitated changes in business practises. Acquisition of technology comes at a cost. It is vital to appraise the benefits that will come up from the acquisition of technology in an entity against the resource out flows. In some situations, it will demand setting-up of infrastructure. This comes at a significant cost. Additionally, organizations will require to retraining employees due to advancements in technology. The advancement in technology may also render sections of employees redundant.

This would have cost implications on the entity as it pays benefits to the retrenched workers and hires additional personnel suited for the new technology. Alternatively, entities may opt to retrain the employees to avoid disruption in the entity (Shoniregun, 2005).Technology has countless benefits. As such, organizations can access many databases that contain vital information. Managers can utilize such information to enable decision-making in entities. Therefore, technology facilitates informed decision making in organizations.

This has reduced losses incurred by countless entities. Technology has consequently transformed management radically. Thus, flow of information in organizations has become critical. Technology has enabled faster distribution of information to the workforce. This has enabled increased production in most sectors. Technology has not only increased production through swift flow of information by eliminating inefficiencies. Technology has changed industrial production massively. Introduction of robots has increased production by numerous folds.

Additionally, it has reduced the workforce required in industries. This has minimized the cost incurred by the entity. However, such industries have invested significantly on technologically advanced systems. Technology has also improved industries through advertisements. Currently, entities can advertise to massive potential clientele. The advertisements have enabled the entities to clear stock and earn revenue (Williams& Torrens, 2008).Despite the cost incurred in acquiring technology, it generates incomes that surpass the funds utilized in installation.

Technology has led to increase in width of the communication industry. Subsequently, the communication sector has expanded exponentially. Therefore, this industry, contributes significantly to the business sector. Technology has become a catalyst in the improvement of most sectors. Therefore, the demand for technology is justified since it will enable overall improvement in living standards through the distinct sector of the economy. Technology seems central to improvements of living standards through the creation of employment opportunities, increased productivity and swift communication (Williams& Torrens, 2008).

References Richter, M. (1982). Technology and Social Complexity. New York, NY: State on University on New York Press.Shoniregun, C. (2005). Impacts And Risk Assessment of Technology for Internet Security: Enabled. UK: Springer Inc.Williams, S. & Torrens, P. (2008). Introduction to Health Services. New York, NY: Springer Inc.