Innovation, Technology Essay Example | Topics and Well Written Essays - 4000 words

Innovation, Technology - Essay Example The objective of this paper is to determine whether technology significantly impacts the core strategies and organization of companies to the extent that it should be considered as the primary means of initiating innovation or development. For the purpose of this study, The validity of the statement will consider in both public as well private enterprises from small to large scale. In the course of the discussion, the research will also determine effective applications of technology, how it is changing markets and industries and the developing challenges for companies with its utilization. The application of technology necessitates a study of the relationship of productivity and technology. The debate on whether productivity paradoxes really do exist has become an issue for analysts and managers once more with the shift towards digitization. Consider the implications of the productivity paradox or the Solow computer paradox that Robert Solow theorized in response to the mechanization of clerical work. According to Solow that, "You can see the computer age everywhere but in the productivity statistics," (Greenan et al, 2002, p. 42). The productivity paradox implies that as technology is introduced to a system, in particular information technology, work productivity decreases (McGovern, 2001). If the paradox is to be accepted as true, then technology contravenes productive strategies. However, Dusharme (2001) points out that these impacts are part of the process of adaptation, similar to competency development learning curves. Furthermore, Suter (2007) points out that many companies have considered alternatives to techno-based strategies because of the cost of implementation as well as discrepancies in information literacy in international markets. In Tubbs and Schulz (2006) study, he concluded that lags in productivity in technology-related initiatives can be attributed to the lack of channels where the technology can be learned or used. Explanations for the decline in productivity pointed out the need for technology to be prevalent before it impacts productivity significantly. Thus, later adaptation to technology creates less vulnerability to productivity paradoxes: the implication is that later access to emerging technologies, with the assumption that there has bee growth in software and applications available, is a more viable choice to ensure productivity. Technology and Business Operations According to there should be a realization that the technology is a tool and the degree of its impact is dependent on other strategies (Womack et al, 1991). The bulk of technology adaptations and strategies have focused on information and communications technologies. Among the benefits that have been seen is the increase in communication and networking capacity technology provides (Insinga & Werle, 2000). For example, the utilization of VOIP (voice over internet protocol) operations has become critical in the management or trafficking PSTN calls locally and internationally as well as mobile communications; IP Multimedia Subsystems (IMS) are providing platforms for the incorporation of internet technologies with business operations; as well facilitated the actual interface of VOIP infrastructure with PSTN; and the rise of network societies, referring to online communities and feedback systems,