Effect of Technology on Business | casinomamnet.ga

The number of technological advancements that have occurred in past few decades are quite many and life changing. Even better news is that greater innovations are clearly on the horizon. The information age has taken over control of most business operations and almost all organizations or businesses have a digital component. A few thoughts on the effect of technology on business are outlined below.

Many large and powerful multi-national companies have come up on the platform of tools related to technology. Some of these tools are computers, cell phones and internet sites. Technology has ended up being part of our culture as nowadays people trade information and technological tools.

Technology has really changed the manner in which we communicate drastically. Almost everyone nowadays has a mobile phone and most feel they have lost part of themselves whenever they forget their mobile phones at home. Text messaging and Email have also changed our way of interaction from day to day. Technology is very entrenched to the extent of one colleague having to email another co-worker who is seated five or so feet away. People that are far apart from each other can also communicate effectively and efficiently courtesy of technology.

The effect of technology on business has been tremendous. National and international business has been made a reality by technology. Nowadays people are able to trade with others that are hundreds of miles away and even make and receive payments online and all these is supported by the power of technology. Nowadays it is possible to send and receive mail in a matter of seconds while in the past; it could have taken months for a message to be conveyed from one person to the other.

People have become very dependable on technology nowadays; it is no longer just a means of accomplishing work. The effect of technology on business has been amazing too. Technology has made quite a large number of people to get addicted to it such that when it “goes down”, they are at a loss on what to do next. I can only hope to be around in the next few decades so that I get to see how man will be affected by technology.

Criticality of “Interlocking” Business and IT | casinomamnet.ga

One of the keys to success of an organization (whether profit making or not-for-profit) in today’s modern technologically advancing world is how well it is able to interlock its business and IT capabilities to maximize its returns and fulfill its responsibilities. This interlocking does not refer to merely implementing technology but involves technologically enabling business processes for enhancing efficiency and providing “action-able” information for “informed” decision-making.

Introduction and advancement of technology in businesses matured to the level where most organizations today have implemented ERP (Enterprise Resource Planning software). To exploit the best out of their selected ERP and other implemented technologies, and for accomplishing the envisioned “value-add”; they have integrated their IT systems. However, what some have failed to appreciate is that this new technology era in business not only gave birth to the need for employees to understand and use technology in their respective functional areas it also gave birth to the critical need for a new breed of professionals who understand both business (i.e. encompassing all functions) and technology equally well and are able to wear either “hat” when required for a holistic understanding and way-forward.

Whereas external consultants hired for specific projects served this interlocking requirement for a holistic approach during the specific project; the need for such skills in-house for day-to-day operations and “action-able” reporting started to be felt by the organizations. Those who realized and appreciated it took steps to redeem the situation by attracting and hiring the “right” talent. This was never going to be easy since finding the “right” candidate with the niche skills required for success in this role is a challenge – more on this later in this article. However, there are others who remain blissfully unaware of why they lack “action-able” information even though they have invested in sound technology, competent IT staff and competent functional staff. They keep looking for such information from either their IT team or their functional team (Finance / Budget / Procurement / Operations / HR / etc.) or both. Their desire for the much sought after “action-able” information relevant to their business most certainly hits dead-ends either due to non-capture of data element(s) or due to quality of data captured that leaves much to be desired of. The failure to appreciate that providing such “action-able” information is a “funco-technical” capability, which is cross-functional as opposed to a mere technical or functional capability is the cause of the problem of abundance of information at their disposal but not much “actionable” information. The senior management consequently starts doubting the decision taken to invest in technologically enabling the business processes.

In reality there is no need for the senior management to doubt the investment decisions. What causes this dearth of “action-able” information is the “missing” organizational role, which is required to interlock business and IT. Such an organizational role understands and appreciates that an organization does not work as silos of functional departments but instead critical business processes span across functions and deserve “respect” accordingly rather than being handled as an integration of respective functional processes. This holistic view across business functions as also understanding how the enabling technology captures and reports data elements is what is missing at the organizations where the senior management is missing “action-able” information for “informed” decision-making.

The “right” candidate for the organizational role discussed above is not just required to be a “business-oriented technically qualified person” but is required to be a “technically-oriented business qualified person” i.e. not a CTO who understands business but rather a CFO/COO who understands technology. As indicated earlier in this article, it is this very requirement of overlapping business and technical skills that makes finding the “right” candidate a huge challenge. Relatively very few individuals train to be functional professionals and then are adventurous enough to work both in cross-functional and technology domains to nurture “funco-technical” skills to be suitable candidates for this role. Hence, identifying the “right” candidate becomes more of an extensive search amongst cross-domain / cross-functional experts rather than a straightforward job vacancy posting and recruiting exercise.

Understanding the reason for lack of “action-able” information and recruiting the “right” candidate are steps in the right direction, however, it is equally important to position this organizational role at the “right” hierarchy. From a job role perspective this role requires to be equally involved with:

(i) All functions (in their decisions that effect business processes),
(ii) IT (in their decisions that effect the technology landscape), and
(iii) Planning (in their decisions that charter the future course of the organization).

Since the role spans across functions and divisions in an organization it needs to be appropriately enabled to deliver “value” to the organization – the very reason for which it has been recruited. It is therefore apparent that this role would have to be independent and report to the CEO.

To conclude, an organization that has technologically enabled its business processes can reap the best out of its investments if it understands and appreciates the critically of interlocking business and IT.