BM 565 Digital Business & New Technologies

CW1- Digital technologies and firm performance: The role of digital organisational culture

Student Name: Monica Bulgaru

Student ID:H1910446 (Bucks id:21909766)

Lecturer name: Dr DIPEN RAI

Executive Summary

The technology advancement also helps in the management of the business and various organisations. There are various present technologies which are very much important for the development of the whole business and organisation. In this study the discussion will be performed on the new and old digital technologies which help in creating proper business environment. There is also the discussion of the challenges which are placed during the implementation of technologies.

Contents

List of Figures

Introduction

Advancement in technology is a very new trend. Because the field of information and technology is continuously improving very fast. In the present business environment, the utilization of technology is very much high. Because in the previous time most of the work of business and management is done with the help of hands and mind of the humans but in the present time, there are various points which help in the business and management. This study will help the learner to receive information regarding the role of present and future technologies in the business environment. This study will also help in getting the information regarding the technologies which are used to be performed for the global business environment with the challenges which are to be faced by the managers.

Importance of Digital technologies

Digital technologies are the most important thing in the present scenario. Digital technologies are one of the basic requirements in the present time because every activity in the business and the management is performed with the help of digital technologies (Sousa and Rocha 2019). There are 5 common reasons which tell about the importance of digital technology, so those 5 points are:

Communication- Technology is the one which helps in faster communication in terms of fast, wide and efficiency. The main points which come under this are effective communication with the team, clients, investors, potential customers, and the general public.

Security- The increment in cybercrime is also imperative for businesses. In the present time, all the business assets are properly stored in the cloud of the system, in which the level of security is needed to be very much perfect. So, digital technologies are needed to be properly advanced and properly secure. This will; help in saving the data from the cybersecurity attack.

Efficiency- The main point of technology is that it helps in the increment in the efficiency of the work and business. Because that thing help in getting the proper information about the data, it helps in tracking the whole data and various other services which are very much important for the development of the business and the management of any process.

Employee assistance- This is one of the biggest factors which shows the importance of digital technologies in business and management. Because all the business is performed on the basis of employees and for connecting with the employees this helps very much (Nadeem et al. 2018).

Time and money- The technology helps in proper saving of time and money by increasing the above points properly.

Development of digital technologies

The development of technology has occurred in the business and management at a very high level. This is because in the previous times the number of technologies in the business sector is not very much. But presently the advancement occurred in that much way, the new business models are created in the market, it helps in increasing the level of customer experiences and also help in increasing the internal capabilities which help in improving the core operations. In the previous time, there are various points like the customer experience, the level of efficiency is very much low but after the development of technology, business becomes more profitable and efficient in the correct form (Bican and Brem 2020).

Description of technology

In the previous times, the level of technologies is very much low due to which the level of productivity of the business but after the advancement of the technology the level of productivity in the business models. The technology is in such a way that the new type of business model, that it also helps in customer experience. The technology changes the status of the business from a manual manner to a digital manner. Which helps in increasing the level of efficiency in business. The new technologies which will be used in the business and organisation, includes a historical approach which include various cultural efforts with the he procedural and managerial efforts and which help in providing thee proper changes for the organisation.

Technological platform and software

There are various types of platforms that are used in the digitalization of the business and management properly. Some of the technologies which are used for the digitalization of the business and also the transformation of technologies. So those platforms are:

Mobile- in the past few years or decades, the mobile technology has changed various things. This is the most advance and powerful technology which can be operated with the help of a hand.

Cloud- This is the most advanced thing because in the previous time the data has to be stored in a particular device or place. But with the help of this technology users can easily access the data with the help of the internet and credentials.

IoT- This technology helps in bringing the proper visibility in between the operations and product properly (ptc 2022).

AI/ML- This technology helps in burgeoning the market. This technology advance itself by learning from new actions.

Digital Twin- Digital twins have a very proper role in digital transformation. This is the digital models which virtually represent their counterparts.

AR- Augmented reality is the more seamless connectivity in between the digital, physical, and human world.

Robotics- This technology is implemented in such a way that 1 out 4 manufacturers are using this technology for business.

Additive MFG- This is a 3D printing process for the manufacturing of the product.

Figure 1: Technological platform used in digitalization

(Source: ptc 2022)

Businesses and organizations using these digital technologies

Digital technologies are one of the most important things in the present. The utilization of the digital technologies is very much important because that help in increasing the level of customer experiences and also help in increasing the internal capabilities which help in improving the core operations. Some of the organizations in the world which are using digital technologies are:

Nike

Disney

Hasbro

Microsoft

Google

These are some of the technologies which is used very much, which help in the organization and business properly.

Digital technology as a business tool

In the previous time, the business is mostly performed on the notebooks and with the mind power of humans. There were no computers or technology which help in sorting the data and managing the business with just clicks (Li 2020). But in the present time, there are various technologies like the project management tool, data management tool, data sorting tool, and various other tools which help in completing all the business activities tools. These tools are very much effective for the business because this thing helps in creating the work as per the requirement of the business. That tool help in increasing the level of efficiency in business.

Relation with course content

The advancement in technology is increasing with very fast speed. In the previous time, there are very few technologies which are used for the work. But in the present time, technology is advanced very much and that helps in maintaining the business as per the requirement. Like in present every business is running with the help of the technology as most of the business is running online or using various technologies for billing and data sorting of inventories. These are some of the things which show that the digital technologies are very much important for the business process and management of data (Ranta et al. 2021). When it comes to the relation of digital technologies with the course of digital business and new technologies. So, the relation is very common in this case for the better efficiency of the business by providing the improvement in communication, analytical data access, collaboration, management of content, customer experience, and social networking. These are some of the points which are performed in the business that help in making the business to digital business properly. The role of digital technology is very much in the business because that thing helps in increasing the level of efficiency and productivity in the business. When it comes to the ways which are used in the digitalization of the business, then there are various technologies like mobile, AI/ML, AR, double twin, and various other technologies. the progression of the technology in which the increment of the degree of usefulness in the plans of action has increased. The innovation is in such a manner that the new kind of plan of action, that it likewise helps in client experience. The innovation changes the situation with the business from manual way to computerized way. This helps in expanding the degree of effectiveness in business, so this is the basic relation between the digital technologies and the course context. This section will help the learner to collect information regarding the relation in between the digital technology with the course of digital business and technologies. Because this section contains the proper information regarding the work.

Relationship between digital technologies in theories of business and management

There are various theories of business and management that are used by the organizations to get the proper success in the business. The advancement of the various technologies which are used by the organizations for their business is very important in context to the theories of business. Because of the proper technology will not be implemented in the theory then the results will not occur in the proper way. One of the business theories is system theory. This is the most important theory which helps in increasing the level of success. This theory states that the creation of the system is to be performed in such a way that the elements will be related to the environment. Because of that help in creating new ideas. This theory is very much perspective in real but that also helps in correcting the mistakes in the business. So, for this, the use of technology is to be performed in a natural way because that helps in creating the environment of the business very much lite. Another theory of business and management is the principles of administrative management. This theory is the best theory for the examination of the business properly. In this theory, the main thing which is to perform is 6 responsibilities which are organized, command, control, coordinate, plan, and forecast (Bartczak 2021). These are the main responsibilities which are very much important for the managing a business or a team. So, the technology which is used for this theory is a management tool. Which will help in properly organizing the business, command on the activities, control on each and every action properly, coordinate with all the team members, plan all the further activities, and forecast the plan. So, the management tool is the perfect technology for this work.

Similarly, there are various other tools and technologies which are used for the management of other theories like the bureaucratic management theory, this theory is designed for the structuring of the business in the proper way. So the proper business structure should be based on the following points:

Proper division of labour- In this the technology help in proper division of the labour with proper requirements.

Separation of organizational and personal assets- proper separation of assets as per the requirement of the company.

Proper command chain in hierarchal- The new technologies will also help in the managing the proper hierarchy of the company.

Proper maintenance of record- The new technology will also help in managing the work and maintenance of the record.

Proper hiring of employees and promotion based on work. The new technology also help in creating the proper hiring system.

Proper regulation- The new system also helps in the development of all the new regulations for the work.

So, for this theory, the main technology which is to be used is the HRM tool which is used by most of the organizations to get the proper information of the staff and their progress (Sling 2022).

Conclusion

Technology is the factor that helps the business to work in the proper way. in the previous time business are performed in a manual manner. But in the present time, all the businesses are on the digital platform which is a very big evolution. This study is properly conducted on the digital technologies which are used in the digital business and management. This study is conducted in such a way that the learner can easily collect all the points regarding technologies used in the digital business.

References

Bartczak, K., 2021. Digital Technology Platforms as an Innovative Tool for the Implementation of Renewable Energy Sources. Energies, 14(23), p.7877, https://doi.org/10.3390/en14237877.

Bican, P.M. and Brem, A., 2020. Digital business model, digital transformation, digital entrepreneurship: Is there a sustainable “digital”?. Sustainability, 12(13), p.5239, https://doi.org/10.3390/su12135239.

Li, F., 2020. The digital transformation of business models in the creative industries: A holistic framework and emerging trends. Technovation, 92, p.102012, doi: 10.1016/j.technovation.2017.12.004.

Nadeem, A., Abedin, B., Cerpa, N. and Chew, E., 2018. Digital transformation & digital business strategy in electronic commerce-the role of organizational capabilities. Journal of theoretical and applied electronic commerce research, 13(2), pp.1-8, DOI: 10.4067/S0718-18762018000200101.

ptc, 2022. 8 Commonly-Used Digital Transformation Technologies. [online] Ptc.com. Available at: [Accessed 5 March 2022].

Ranta, V., Aarikka-Stenroos, L. and Väisänen, J.M., 2021. Digital technologies catalyzing business model innovation for circular economy—Multiple case study. Resources, Conservation and Recycling, 164, p.105155, https://doi.org/10.1016/j.resconrec.2020.105155.

Sling, 2022. The 11 Most Important Management Theories For Small Business – Sling. [online] Sling. Available at: [Accessed 5 March 2022].

Sousa, M.J. and Rocha, Á., 2019. Skills for disruptive digital business. Journal of Business Research, 94, pp.257-263, https://doi.org/10.1016/j.jbusres.2017.12.051.