The Business Objectives Of New Technologies Information Technology Essay

The Business Objectives Of New Technologies Information Technology EssayPrior to commend closely starting unsanded rail line or implementing innovative engine room to the railway line, one moldinessiness think about the Objectives what they argon expecting from it and objectives are based on planning. Therefore, plan is the most important part and if plan does non identification number out the outcomes, this would mean that the plan piss is vain. So planning should be made nether consideration that whatever objectives we are going to calculate from the business, plan should stipulate end results and its associated activities to achieve that results.Objective whitethorn be set under the consideration of increase in monthly sale, profit or decrease in appeal, operating expenses, check and balance on cash flows, debts, investments etceteraor non pecuniary objectives such as customer satisfaction and whatsoever to give the positive edge to the business in the militant envir onment. However, the selected topic would highlight the demonstration of a raw(a) engineering in an organisation in achieving its business objectives in avocation discussion.1. IntroductionLots of executives nowadays are more sentient about the strategic weight of applied science in terms of providing the value and cut-throat edge to their companies in fast pacing business arena. Such kind of directs deviate into more crucial retorts when we talk about their practical implications in either business as it comprises non only cost and complexity but also increase in the rate of engineering change, sources and competition.This may sound uncomplicated in terms of designing it on papers, however redactting it prudently into class period is not simple, as it requires valuable figure outes, perplexity of engine room and system to feature sure that these technological resources are matched with the business needs, not only to cope with legitimate demand but for the futur e needs of the business as well. Hence, no matter what engineering science is planned to confine in the business, but it must considered that it assists the business processes such as communication and its implementation must be aligned with business strategy and development.1.1 Technology And Its Appendage To BusinessWe arouse define engineering in m whatsoever ways and the abstracts from the various definitions highlight different aspects that epitomize technology and this spate be deemed as a precise type of intimacy however this may also be in material form in a shape of physical object, e.g. it can be a machine, system, module or intersection. Moreover, when we talk about important elements of technology then we come crosswise with the sense that these elements distinguish technology from ordinary disposition to precise understanding of the comp any, as technology comprises with engineering and science. And the procedures which sour effectively for its functions are also in truth(prenominal) important, for instance organisations structures and software applications / tools together with innovative procedures and advancement of revolutionary product etc.Obtaining awareness about the technology and accommodating it for its effective use is crucial, as technical know-how of any technology consists of both conspicuous and unspoken knowledge. Where, overt know-how can be explained whether in a form of report, process or user manual, together with the physical equipment. However, unspoken technological knowledge can not be easily expressed and depends on training and understanding of work such as going different skills according to the need of work. Equ altogethery like technology, we can portrait technology appendage to business in a way that it concentrates on the effectual recognition, selection, getting hold of development, utilization and shielding of technology mandatory to uphold a market place and business recital in conformity with familys objectives. So technology appendage to business can demonstrate as ascertaining and upholding the link between resources and objectives of the company and this requires suitable processes and tools sustain by effective guidance and communication.1.2 centering of TechnologyOnce technology introduces to the business the next level comes in the shape of its management which elucidate the demanding processes to build up an incessant relationship between product and works that it can set about sought after results composition serving to the target market. In this way it twists easy for it to put together entirely technological issues arise during the business processes, including innovation, operation management, strategy development and freshly product development and ultimately the extraction of those issues with outstrip solutions.Excellent management of technology requires the strong link of knowledge and communication among the technological and commercial perspectives i n the organization and this would jock to accomplish a balance between technology push and market pull. Thus, it does not only depend alone on both interior(a) or external factors but equally on both factors such as business objectives, inside culture of the company and dynamics of the market. chase figure shows how technology can live to both product and services to achieve its best and cost efficient results while simultaneously focusing on business strategy and available market opportunities.Key ChallengesAs challenges are associated with all of the businesses, fields, professions, processes, etc similarly there are various challenges accustomed with the knowledgeability of advanced technology to the business few of the vital challenges are as followsComprehensible Business NeedThe commencement exercise challenge prior to decide the introduction of stark naked technology to the business is Need and this must be taken into account with high consideration as cost of imple menting new technology must not exceed the benefits originate from it. Otherwise overleap of clear business need may affect worst to the business position and ultimately may put business out from the market.1.3.2 Valuable Business ProcessesOnce its decided that there is a genuine need of the new technology in the business and competitory advantage would be set into the business, then there is a need to think about how to develop valuable business processes which would align all internal and external factors with the business strategy to achieve its objectives and it must not overload from limited or short term tasks only.Organisation CultureCulture of any organisation is vital for its success so new technology must be give birthive to its culture and should participate in the effective progress of do culture stronger than the ongoing culture and definitely it should not impede the ongoing progress differentwise the introduction of new technology would be costly earlier than b eneficial to the company.1.3.3 Right People and FunctionsThere is also a need to view that right people and functions must be aligned with new technology as it all depends on the knowledge and skills so if the right persons are not put in place to exercise it or in the process of making functions to obtain warlike outcomes then the best use of new technology may concealed forever from the companys desired results.1.3.4 Obligation from Senior forethoughtObligation from senior management is required for this introduction as they are in command to decide and use of the technology. As they are working for the best interest of the shareholders so every decision from them must be transparent and they are accountable and responsible for their actions towards the companys progress. Lack of commitment in this regard may affect worst on the decision of introduction of new technology.1.3.5 Required Data / InformationAvail mogul of required selective information / information is essential th at could support the companys decision for the introduction of new technology. Because this would help the management to decide whether these is a need for the new technology in the business or they can make outsource arrangements for the required processes without this data / information company may play blind ultimately associated cost would turn their profit into loss.Effective Tools / TechniquesEffective tool, techniques and methods must be analysed which would be associated to the new technology as these should not either play a difficult or negative economic consumption in the companys ongoing processes. Consequently, these would leave destructive impact on the operations and company may face solvency or loss due to the introduction of new technology.Effectual information and MonitoringTraining must be provided to all of the staff members involved in the processes affected by the introduction of new technology as without the proper training they may face difficulty to use o r bypass cost effective processes and finally monitoring is vital for the sake of observing the desired benefit calculated prior to the introduction. If company achieves its objectives then its beneficial and would give competitive advantage and if not then company always move with the adventure plan to depart from the use of new technology or processes.2. Radio Frequency Identification (RFID) New Technology By TescoTesco is trying to develop the brain of introducing new technology Radio Frequency Identification (RFID) from last 5 years with a perspective to align it with its business strategy.2.1 How It WorksThis technology has an ability to track and tag items, on the other hand its implication is enormous. For instance, the movement of stock can be tracked and in transit products can be easily monitored, so inventory of all items can be examined at any clock time.2.2 Enhanced Customer AvailabilityWith the help of stock tracking in real time and ability to record it automatical ly, this technology will help the staff members to re-shelve the items on time. Eventually, it will be the reason for enhanced customer approachability to the stores.2.3 Reduced PricingThrough this technology control over the waste in store, effective supply chain management and better stock levels would help Tesco to reduce the products prices to obtain competitive advantage. In simple words products would be ordered in controlled manner such as Just In clock delivery before the stock ends and eventually minimum waste of it in store.2.4 Enhanced Customer ServicesDue to control over all other aspects such as enhanced products availability, the staff would be able to provide excellent and focused customer services. As, they would get awareness of stocks in seconds of time whether items are available or not together with tracking the misplaced items and putting them back to their places.2.5 Automated Re-orderAs, this technology keeps record of all items available in stores, in trans it, misplaced in the store and control over the wastage of inventory. So, it would be possible to reorder items automatically based on the contact of minimum level of stocks of for each one item.2.6 Implementation IssuesTesco is still working on this control to implement it in its stores but there are many issues left and need appropriate heading and secure programming. The main barrier around its implementation is the requirement of huge cost and without cost / benefit analysis Tesco is not ready to implement / turn out it in any of its stores. But it is expected that it will introduce in 2010. The other main issue which has to consider carefully that this technology has a strength of spy and this issue has already risen by Civil Rights activists. Also there is apprehension about the manipulation of data in terms of changing in the product price by customers. For instance, PDA (hand held device) may edit the tag of one item with the price of another.2.7 ConclusionThe idea beh ind introducing the new technology is that whether it endows positive and efficient results to what is menstruationly in use by the company or not. So, the thing is company has to decide that whether they need to upgrade the actual technology already in use or introduce the new technology to achieve business objectives while taking advantage of the more profit, competitive edge / enhancement of operational activities or if they can push the business activities forward without introduction of new technology.Also company must take its imagery in account and must ensure that this new technology is heading towards the same direction and has ability to dominate the future approach of performing a task in the companys favour or will it become obsolete after a little time (companys loss in terms of in operation(p) cost) or complex in use that customers will lean while using it at the time to buy a product (damage of image). Apart from the literary criticism about spy and other associat ed issues, Tesco knows that introduction of new technology has other short terms issues as well such as re-organising, re-training of staff, educating customers how to use it etc. Moreover, the cost / benefit analysis are left behind and has to analysed before the implication of this new technology.This is fair to say while concluding from the introduction of new technologys analysis that business would not obtain benefits if it is same alike so. And if without introducing new technology a business is already standing on the top of competitive environment then there is no need to introduce new technology to the business but hold the card to put off when any of the competitors changes its approach to come forward in the competitive business arena.3. Approaches Of Introduction Of New TechnologyOnce I read the available list for The Oxford Brookes University investigate and Analysis Project (RAP) by ACCA, I decided to write on How the introduction of a new technology can assist an orga nisation in achieving its business objectives and for this purpose I selected Tesco RFID to refer it with the different available approaches. Following are various approaches / levels / stages etc that every company may consider while surgical procedure about the introduction of new technology to achieve their business objectives3.1 Planning Of Product / TechnologyThis is the very common type towards the introduction of new technology in the business and it covers the entire processes that a company may come across with right from its start to its end. This stage helps the company to insert technology in their running system and contrived products. Tesco RFID prior to its development was taken into account with a consideration of individual customers understandings and needs. The idea was based on customers shopping view and wastage of stock in the stores. So they planned to introduce a new technology that regulates with the current operational activities and this process can be jutn in the following figure which shows the timely introduction and connection of products-technologies relationship on planning stage.3.2 Capabilities Of New TechnologyAfter the planning stage, the next step companies consider for the introduction of new technology in their businesses is analysing the capabilities to handle the current operations of the organisation by new technology that it should enhance the performance of the ongoing processes and should not become the reason of either making it difficult to handle or making the current operations more complex than their existing way. Same as in the case of RFID, Tesco reviewed its existing operations and analysed that with the help of capabilities of new technology together with the management serving the customers by giving individual attention, the implementation of RFID would be very effective. The technology captured positive perception but still issues are associated with it and Tesco is working hard to resolve these issu es.Tesco management knows that it would give them cost reduction benefit by controlling over the wastage of stock but the implementation is still delayed due to the high initial cost requirement and other issues. But, it seems like Tesco management is sure about technologys capabilities and exceptional services by staff members so they know that it would help Tesco to understand that how much investment is required to implement it aright and ultimately this would become a rationale in increased business activities plus profit. Following figure shows the interrelationship between all activities behind the introduction of new technology in the business to achieve its objectives.3.3 Strategic ApproachIt is very important to keep in mind about the future pile of any introduction of new technology in the business as it comprises on the all vital aspects of the business environment including market, product, skills, technology etc. So prior to deciding for the new technology, companies should made the vision that what they are expecting from this new project that it should stroll along with all vital aspects of the business without having conflict with any of it.The same way, Tesco realised that they can save much of the costs they are wasting in a way of stock wastage and made vision that this RFID would produce excellent results in terms of increase in sales and reduction in costs including management cost and more important is that it is aligned with its operations and future vision. Following figure shows the how the strategic approach works for the business even to fill out the gap which turns up due to the comparison of current position with the future vision.3.4 Information SystemInformation system is vital part of every successful project and especially when thinking about to introduce new technology to the business. All of the projects essences up to its success are based on the right information on timely basis. If wrong information driven on the initial stage would mean the wrong decision for the future and ultimately it would drive company towards cost and loss of business.Tesco for instance, when initially took step for introducing the RFID they came across from many experiments in the shape of surveys and observing customers behaviour and they collected right information from its various outlets to make decision about introducing new technology.So, we can see from the following figure that right information on right time in the process of technology development provides the dominant outcome (e.g. nugget in the fig) leads to cost effective edge in the companys operations.3.5 Asset and Management KnowledgeOn the basis of aligning available management and asset knowledge companies can demo the future demands. Asset knowledge relates to the processes on which management takes decision about the projects and their needs including introduction of new technology and this is the stage where management takes business objectives very ca refully in to account.As Tesco on the basis of its knowledge and management skills enabled it to take a decision about to introduce RFID. With the help of following figure we can analyse that how all aspects of introduction of new technology in business such as assets, knowledge and management help to align all the processes while focusing on the eventual end of achieving business objectives.4. Issues With Introduction Of New TechnologySimilar to all projects, there are various issues attached with the introduction to new technology and these issues must take into account very sensibly to achieve the desire business objectives. However the most import issue is packet, as almost all of the technologies are dependent on software that enables its effective use so companies must consider the following main issues think to softwareSoftware should define all aspects of the business processes without any conflict with inter-related activities from enabling data, sacramental manduction i nformation, to all templates and protocols.Software should enable management to retrieve data for decision making, analysing situations, and managing the complexities in the systems etc.Software must provide the critical paths of the activities along with available activities which can start parallel to the critical paths to save time and cost and eventually helping management to make timely decisions.Software must have ability to uphold market information, product-market analysis, option evaluations, assessment of technology up gradation etc.Software should have ability to customise it on timely basis according to the requirement to obtain utmost results from the technology.Software should have ability for integration of methods, processes and information.Software must have ability to facilitate the business processes from importing and exporting data simultaneously connecting with other management and business information systems.Software interface must be user friendly with abili ty to grow with company, this would mean that it must have ability to support multi-users as data would input from various locations and types.Must consider that only software alone may not produce good results as its position is just to support business activities and it depends on the management that how they utilise the best from the information generated from the software.5. Pros and Cons Of Introduction Of New TechnologyLike every object new technology introduction also has pros and cons to the business as the logic behind the introduction of new technology is that businesses want to make their activities and processes more efficient as compare to their current available needs.5.1 Advantages of Introduction of New TechnologyFollowing are the advantages of the new technology in business5.1.1 Cost EfficientThe first and main advantage behind the decision of introduction of new technology is cost saving.5.1.2 ProductivityIncreased productivity in terms of production, planning and readiness is also one of the advantages associated with introduction of new technology to the business.5.1.3 Reduction in WorkforceAutomated activities help companies to reduce the workforce eventually this would help as a source of cost saving.5.1.4 ProfitabilityAs efficiency increased it reduces the cost so introduction of new technology to the new business allows work to be done more quickly which would mean more fluency of cash inflows to the business.5.1.5 Employees MotivationOnce company achieved its business objectives from the introduction of new technology this would means business is making profit. So, companies may think about remuneration increment or bonuses to their employees to increase their motivation level.5.1.6 Effective Communication and Decision doIntroduction of new technology may help companies to communicate effectively with their long distance businesses point of sales and thus it would be easy for them to make decision according to the requirement of a p articular area.5.1.7 Competitive AdvantageCompanies always decide to introduce new technology with keeping competitive advantages in their mind. It could be offering products on low prices without lowing standard of products.5.2 Disadvantages of Introduction of New TechnologyFollowing are the disadvantages of the new technology in business5.2.1 ManagementMain disadvantage is the introduction of new technology to the business might be difficult to manage. So with high consideration of genuine need must take in to account.5.2.2 SkillsNew technology if internal, the company may require to arrange appropriate training for its employees or if external (for customer use) then may not be user friendly and thus beyond the range of use from large number of customers and this would generate loss in return.5.2.3 MaintenanceThe concern and up gradation of technology to keep it effective may incur more cost than its benefits.5.2.4 Other CostsOther costs may be in terms of redundancy pay to the staff due to the introduction of new technology and purchasing it for the entire branches of business.5.2.5 Time FactorIntroduction of new technology may obsolete more quicker than the time company calculated to obtain benefits from it.5.2.6 IntegrationIntroduction of new technology may not integrate with all of the business processes or may bypass various activities which may be important to take into account for the effective outcome.5.2.7 second-stringerSubstitute of the technology may be more efficient of cheaper than the technology company is going to arrange for its business activities. This would mean inefficient and costly decision by management without making proper research.6. ConclusionFrom all of the above discussion we can abstract that introduction of new technology (if genuinely required by the company) has great potential to support the development and implement of business activities, align with strategy of the company while endowing a company with the effective in formation, processes and tool to obtain positive outcomes.The following features of introduction of new technology have identifiedA lot of benefits of new technology are taken from the business processes and these processes brings together effect from various divisions of the business endowing them chance to share effective information and their perspectives towards the development of new technology.The obvious advantage to develop and introduce the new technology is based on the effective communication which is associated with business processes and eventually with the strategic planning.The new technology development may have potential for supporting business planning and strategy to achieve the business objectives sketched by businesss vision.New technology introduction is not a black box approach that it would use as a learning experience or flexible approach that it would base on specific circumstances.Introduction of new technology should articulate in in writing(p) form as it is the most effectual means which maintain communication across useful boundaries prior to the development of processes under new technology.New technology must integrate with technology already in use, products development, business processes and commercial activities by the company.New technology should overtly describe the time measurement which is epoch-making for certifying that all business related activities are synchronised effectively.Introduction of new technology must focus on long term vision of the company as the initial investment for the development, implementation, and training about new technology costs as a huge expense to the company.Software plays an important role in every application in the technology. It may alone can not deliver the best results unless it is made as user friendly and unified with all other related aspects of the businessFinally a key benefit of introduction of new technology is sharing of knowledge among all the personnel even if around the globe and the development of strong and common vision where company is heading.7. RecommendationsAfter working about the implementation of RFID by Tesco and attached issues to this project following are few recommendations for its growthYE ABHI CHANGE KERNI HEINEstablish Technology Management PracticesCreate IT Management TeamORG does not have a ballock technology management team. Given the size of ORGs computing environment, CompuMentor recommends ORG develop an Information Technology Management Team. This team will drive the overall direction of technology and information systems. We have found this to be the most sustainable and cost effective way to manage the technology projects and systems that ORG will be developing. This team can be comprised of existing staff through a reallocation of their time depending the existing staff skill set, interest and budget considerations.BenefitsAllows all staff to bring discussing needs, ideas and directions for technology.Provides a r ealistic technology budget that takes into account the organizations technology plans.Becomes a focal point for future technology planning, and specific technology projects such as web site construction or database planning.The diverse membership of the tech team can help ensure that such policy is useful for all members of an organization.RecommendationORG should develop an Information Technology Management Team pooled from its existing staff.The team works to set technical priorities, assist in decisions in technology plan implementation and advocates for technology in the budgeting process.The team is made up of a representative cross-section of the organization. This will be increasingly important as ORGs technological capacity grows and the needs of its users become more diverse.The tech team ensures continuity for planning that outlasts the tenure of any one individual. The tech team should ensure that members also share training opportunities.Document Policies ProceduresIn o rder to most productively manage the technology practice session at ORG it is important for the organization to register common computer procedures and computer usage policies and to train staff members on these policies and procedures.RecommendationThe series of training materials that Miriam has produced should be finalized and deployed to all ORG staff members.Computer usage policies should be drafted and posted at each location.Improve Network Server and File Security.ORG should standardize and improve its electronic network security. The mix of local vs. server accounts and the lack of standards for file organization and file sharing not only requires more overall administration but also puts ORGs data at risk from loss, theft, or access to private files by individuals who should normally be denied access.RecommendationIn order to provide a consistent model among all of its offices ORG should follow a standard set of guidelines for storing and sharing files. Additionally, al l user accounts should be centralized on the servers at each location.A consistent file storage and sharing model will help users across the organization to know where to put files so that they are secure and confidential.ConsiderationsThis recommendation should be considered when planning to replace the network server at the unified Peabody/Whitehall office as many of the tasks below could be most quickly performed on a new server.Evaluate need for regular systems administration.Due to the size of ORGs organization, it should consider how much time is spent administering various systems and resolving day-to-day user problems. ORG presently has a person at each location designated as the defacto administrator. This role is in addition to their regular mission oriented duties.RecommendationORG should track its daily user related issues and the count of time it takes to resolve them over a period of time (30-60 days).Evaluate the time requirement to resolve such issues in order to id entify if progress scheduled support service or a full-time administrator is required to free up the time of the present administrators and to provide better service to staff members.Establish a formal technology budget.ORG pr