The Importance of Technology for Global Organizations

Write about the Effect of E-Technologies on Modern Business for Productivity.

The advances in technology have brought many opportunities and challenges for the organizations and the managers. The importance given by the organizations to technological changes can affect their growth. In the global competitive business scenario, the organizations need to be technologically advanced in nature which can further help in increasing their productivity and revenues. Technology has become a necessity for the various organizations which belong to the different sectors. The usage of technology has become significant to the operations of the organization in the modern global world (Lana and Abu-Shanab 2016). The form of technology used by each and every organization is different this has a critical effect on the design, nature and structure of the company. The departments of an organization are based on the equipments which are used for the purpose production, information, communication, control or information. Technology has a vast scope for adoption by the various organizations which can help the fast operations of all the departments. The increase in the rates of innovation in the organizations has further increased the usage of modern e-technologies. The technologies cause a complete change in the structure of the organizations and the workforce as well. The productivity of organizations increases due to the impact of technology on the organizations (Walter and Sorrentino 2017).

The human resource department of the organization has been affect by the advent of new technologies in the global organizational environment. The HR practices of the organization have also become efficient due to the usage of technology. The good and effective HR practices have helped in maximizing the benefits and further minimizing the problems. The process of recruitment has also seen a lot change as the candidates can now apply for various posts on an online basis. This helps in saving huge amounts of time for the recruitment department and the human resource managers as well. The communication related process of the organization also becomes easier and HR staff are able to keep in touch with the others in the company (Yue-Yang  and Huang 2016). The performance of the employees can be easily analysed with the introduction of new technologies. The data related to the employees are stored by the organization and this further helps in analysing their performance levels. The advent of technology helps in the gathering and breaking down of the information related to performance of employees. The human resource department of the organization needs to gather and manage huge amounts of data. The job the HR managers has been simplified with the help of modern technologies and software that are implemented in the organization (Pavlos, Doumpos and Matsatsinis 2015). This helps the managers to monitor and manage the performance of the employees and further solve their issues as well. The data that is collected by the HR department related to the various employees is stored in a secure manner with the help of new and advanced technologies. The changes that have occurred in the technologies have helped the HR departments to store the important data and analyse the levels of employee performance in an effective way. The usage of e-technologies has therefore affected the human resource departments of the organizations in a positive manner (Sergey et al. 2014).

Impact of Technology on Human Resource Management

The constant evolution of technology in the global business environment has a huge impact on the lives of various people and has changed the entire business world. The advent of new technology has affected the marketing related functions of the organization. The effect of online marketing and advertising has become much higher as compared to the impact that it had 10 year ago. The online platform of marketing has been accepted as a major part pf the business operations by organizations in the modern world. The industry related to tech marketing is mainly characterised by the intense and high investment from the side of the employees and the owners of the technology as well (Khan 2018). The advent of technologies has 12 major effects on the marketing related strategies of the organization which are as follows,

• The collaborative way of managing customer relationships has been possible after the implementation of new technologies. This has helped the organizations in enhancing the customer collaborations and building the loyalty of customers.
• The process of outsourcing the marketing and sales related functions and budgets have been made easier with the help of new and improved technologies. The functions are outsourced to various marketing agencies, service providers, commerce utilities and the e-channel partners as well.
• The organizations have become more customer-centric in nature this has enabled them to extend the process of customer segmentation, complex demands of the partners and the selling processes of the enterprise (Mehdi 2018).
• The processes of customer care have been improved after the organizations have implemented the new technologies. The customers can be provided seamless service and the technologies have enhanced the intimacy across the various interfaces created by the organization.
• The distribution related systems of the organizations have also been improved by the advent of modern e-technologies and their implementation. The technologies have been able to improve the market coverage, cost efficiency and the overall performance related to sales (Lina and Gimzauskiene 2015).
• The usage of technology has helped the organizations in migrating from the direct sales related options towards the better way of face-to-face selling process which provides high value to the customers.
• The relationships that are created on the demand chain to maximise the value creation and access to customers can also be improved with the implementation of technologies.
• The interaction with customers of the organizations is also improved with the implementation of new and improved technologies.
• The product and service related channels of marketing operations is improved by the modern level of technologies.
• The branding and promotion related activities of the various organizations has changed with the use of technologies (Dareen and Emad 2015).
• The marketing related process has been enhanced with the usage of new tools, strategies and approaches for anticipating and further influencing the buying process of customers.

The financial transactions in an organization are based on the exchange of the information between different companies. The advent of new technologies has helped in increasing the popularity of online finance in the various organizations. The financial transactions in the modern business environment are now dependent on the usage of technologies. The development of the various technologies has helped in the easy access of information related to financial departments of the organizations. The technologies are becoming affordable in nature and have been able to increase the speed of the financial transactions (Amir et al. 2015). This has helped in the development of organizations and their financial health as well. The speed and the reliability of information technology has supported creation of the financial services in the global organizations. The implementation of information technology has helped the finance departments of the organizations to function in an effective manner.

The advent of e-technologies has affected the operations of the various organizations in the industry. The ever-changing global business world is related to the changing demands and the advancements of the industry. This demands fast changes and development in the various organizations as well. The business organizations rely on the technology related to day-to-day operations. The advancements in technology have a major potential to decrease the amount of time that is required for the purpose of completing the tasks. The desire of the organizations is to increase the productivity which drive them to increase their technological capabilities (Ahmed, Shahzad and Ishak 2016). These technologies are able to influence the operations of the company in a significant manner. The efficiency of the business can also increase with the help of technology. The structure of the organization needs to adapt to the various changes that have taken place due to the implementation of technologies. The web-based business organizations can add new departments which can specialize in the new areas of technology. The employers however need to be trained so that they adapt to the changes that are occurring in the internal and the external environment. The advancement of the technologies can help in the reduction of the number of jobs that can improve the efficiency. The changes that occur on the day-in-day operations can be implemented as the upgrades to the existing computers (Singh and Jain 2017).

Impact of Technology on Marketing

The risks and threats that are related to the implementation of new technologies mainly include the security related issues. The cybercriminals are the major threats to security related to information or data that is stored. The top 10 security related threats are as follows,

• The threats related to weak security provided by the technological companies. The technological advances have related to the introduction of new technologies in a frequent manner. This leads to the loss of security related plans which have further led to the risk of vulnerability.
• The social media has also posed huge threats to the security of the technological implementations in the various organizations (Stich et al. 2015).
• The security related to mobile devices have also caused issues related to mobile security. The over reliance of the customers and organizations on mobile devices have led to issue of mobile security.
• The entry of third party to provide technological services to the countries has further led to risks related to security.
• The lack of proper configuration of the security settings used by the organizations is another major threat towards security.
• The organizations have neglected the software update related issues which has further caused issues in the security related threats.
• The social engineering related techniques used by the software of the organizations have made the intrusion by cybercriminals quite easier.
• The lack of proper encryption has also caused threats towards the security of the information that is stored by the organizations.
• The corporate data of the organizations are being used on personal devices which is a major threat towards organizational security (Mohammad, Siavashi and Bahmaei 2016).
• The security measures that are taken by organizations are not always up to date which can cause a major risk to the data stored by the company.

Conclusion

The report can be concluded by stating that the advent and further implementation of technology has affected all the different departments of the various global organizations. The speed of the operations of global organizations have increased and this has further led to the increase of revenues and productivity. The human resource management function, the marketing management related operations, the operations of the finance department are all affected by the e-technologies. The changes that are made in the organizations are also affected by the implementation of new technologies. The implementation of technologies have however caused issues in the security related to the various operations and the data of the customers that are stored by the organizations. The companies therefore need to implement security related measures in the modern technological equipments so that they can conduct smooth operations.

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