Class Introductions to Strategic Management Technology
Introduction
Changes in business operations such as increased competition, technological developments, and globalization have made it necessary to keep improving business strategies to remain competitive. The integration of technology in management is one of the major ways that businesses and organizations are using to improve operations and achieve competitive advantage today (Matthews, 1992). By taking this course, I hope to acquire a better understanding of the benefits of integrating technology into strategic management. I also hope to learn about new ways that organizations are using to acquire benefits from technology and achieve a competitive advantage. I am interested in learning how to stimulate innovation within an organization and understanding the role of technology in global business operations. A recent development and technology integration within my organization is the introduction of a management information system with the company’s department. The technology introduced assists the various departments in their day to day activities, easing and automating the processes of material acquisition, production data entry, materials requisition, and inter-departmental communication. I fully support the introduction of the system within the organization, as it has improved efficiency within the organization.
Response to Questions
- While invention refers to the creation of a new product or the introduction of a new process, innovative technology refers to technology that is used to improve on or better an already existing process or product.
- The criterion for success for technological innovation is as follows: whether the technological innovation is relevant for the customers; differentiation from competition; whether the technological innovation is explainable and acceptable; whether the innovation is within legal guidelines; whether it has the capability to earn or make sales; and whether it is practical (Noe et al., 2017).
- A general manager in a firm needs to understand the strategy of the firm and clearly understand how the strategy works for the firm. It is important that a general manager has the ability to determine the strengths and weaknesses of the strategy.
- A
firm’s strategy and technology can be integrated successfully by considering
which areas of strategy need improvement and how they can be improved using
technology. Technology should complement strategy to improve efficiency and
performance (Matthews, 1992).
References
Matthews, W. H. (1992). Conceptual framework for integrating technology into business strategy. International Journal of Vehicle Design, 13(5-6), 524-532.
Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2017). Human resource management: Gaining a competitive advantage. New York, NY: McGraw-Hill Education.
