Implementation of New Technology

Topics: Technology, Implementation, Economics Pages: 3 (1300 words) Published: June 3, 2010
Implementation of New Technology
As time goes by we get older as we get older we keep up with current events and get wiser, not only does our body physically change but so does our way of thinking. This is the same mentality that we need in our businesses. In order to stay current with events and remain competitive, we must keep up with the times. As we become more technologically advance, the way we use to run business, may not be the most productive and efficient way to do so anymore. Our operation systems and methods start becoming obsolete or just old, and in order to be efficient and competitive in today’s business market, implementation of system upgrades will be needed. But before upgrading, we as a business need to know the pros and cons of new technology implementation. In today’s digital age, “information technology produces profit by improving the company’s performance in areas that drive profit” (Regal & O’ Connor p.296, 2002) the idea of implementing new technology systems to upgrade old ones is to improve performance, make things simpler and improve the quality of work. For example; why would you screw a screw in with a screwdriver when you can use a power tool? A power tool makes work simpler, improves performance and improves the quality of work. But keep in mind that this may not be a good enough reason if the company does not use this tool often. Careful consideration must be given before a decision should be made if upgrading any old technology or methods. Profit is a major factor in a company when a company is determining whether or not technology change is necessary. “Cost justification is a way of saying that by purchasing such and such technology, we will increase performance by X amount, and that translates into savings of $X.” (Regal & O’ Connor p.297, 2002) So when a company is looking to invest in certain technology, there has to be a return of investment. Meaning if I spend X amount of dollars on upgrading my computer from dial-up to...
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