Cultural Levels and Business
Considering the business point of view, it is valuable to deliberate of culture as presented at four diverse levels namely the national, business, industry and organization. National Culture comprises of the distinguishing common values, thoughts, suppositions, faith and customs of the occupants of a country which direct their behavior. For instance, the Scandinavian countries rest…
Culture and Global Business
Introduction Culture involves the manner in which individuals imagine, sense and do. It changes from one country, industry and organization to the other. From a business point off view, it is helpful to consider of culture as comprising of four different levels. These levels are of nation, business, industry and organization. Every one of these…
Competency Management – Strategy, Purpose and Objectives
Competence Based Management is comparatively a modern method to find on the means by which firms achieve excellent performance and also more important sustain that good performance. The significance of this method lies in the fact that it can provide a theoretical explanation about the way in which firms will be able attain and also…
Technology is a term that is frequently used in the business world. It is a term habitually related to science. But there is a significant difference between the two. Science comprises of outcomes of basic academic studies whereas technology infers to the relevant application of science. This difference is critical when it is to be understood about the manner in which businesses attain new technologies.
The significance of technology to an organization is positioned in the reality that having of technology can provide a competitive advantage. Consequently technology can be considered as an asset of strategic importance. In addition it can be said that an organization“s capacity to handle and take advantage of technology can symbolize a core competence.
Technology competence can improve an organization“s product portfolio. This is possible in different ways as below:
A novel product can be built which permits the customer to execute activities that were earlier not doable or else extremely hard. For instance consider the growth of mobile technology. It permits customers to converse with least difficult around the world. There are users who are ready to compensate high values to have products of latest technology. These products are expected to be extremely pioneering needing good investments in new technology.
An available product can be transformed to turn it into more functional while the fundamental utility continues to be the same. For instance take the case of mobile phones having cameras. Organizations incessantly search for innovations to make their products distinctive from those of their competitors. Even if such innovations can be small, over a period of time these can combine to denote a major leap forward in technology.
With the technology developing into a more advanced stage, product dependability turns out to be a major feature in product differentiation. For instance improved utilization of specific integrated circuits can result in easiness of product assembly. Enhancements in designs and diverse techniques of construction will concentrate on performance and quality.
With the product developing into matured stage technology advancement can concentrate more on cost lessening. For instance consider the utilization of specialized integrated circuits as referred previously. They are costly to conceive but in mass production present massive cost benefits over separate components. They can present a magnificent improvement to the business that can take control of this technology.
Technology is one of the fundamental causes for the existence of a product life cycle. When the technology is in novel phase, enhancements are fast and product functioning ascents rapidly. As the technology becomes established, the speed of transformation of functioning becomes reach stability since the technological threshold is attained. At certain point, another new technology is developed and integrated in the product. The cycle will start again.
Article Written by
Malvika Mishra is an accomplished HR Business Consultant and Learning & Development specialist with over a decade of experience spanning organizational development, leadership training, and content creation. She holds an MBA and a Post Graduate Diploma in Guidance & Counselling, enabling her to combine business acumen with a deeply people-centric approach. Her work focuses on management practices, corporate governance, diversity & inclusion, and preventive mental wellness as a critical organizational capability. Malvika is known for bridging academic rigor with real-world workplace application.
Article Written by
Malvika Mishra is an accomplished HR Business Consultant and Learning & Development specialist with over a decade of experience spanning organizational development, leadership training, and content creation. She holds an MBA and a Post Graduate Diploma in Guidance & Counselling, enabling her to combine business acumen with a deeply people-centric approach. Her work focuses on management practices, corporate governance, diversity & inclusion, and preventive mental wellness as a critical organizational capability. Malvika is known for bridging academic rigor with real-world workplace application.
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