Business Dependency on Technology

Business Dependency on Technology

Executive Summary

These days, Technology appears in several kinds and no any single perspective of our lives is unconnected by any kind of technology or another. Basically, technology is regarded as “the science application on practical basis for carrying out the activities of an industry or commerce”. The development of business through technologies in the contemporary world has been dramatic to say very least about it. With the emerging advancements of about each and every perspective of human life having some bounds and connections with technology, and anyone probably begin to consider an association between technology and humans that is really synergized. Although, some would this association as a benefit and some may consider it as it is having some unfavourable and negative impacts as we are becoming dependent of such technologies day by day. It is probable to be pioneering in both small and large business enterprises in Australia, and to find out the secret of achieving tremendous business success from the use of innovative technologies. Such technological innovations in the business enterprises have been serving an innovative capability that is systematic and ensures work execution more conveniently and the deliverance of business value. Technological innovation initiates with the efficient management and execution strategies, in which a priority is given to such technologies for processing the business functions. Followed by the directions of business goals and objectives, such enterprises create innovation in their business operations as well as the creativity in their workforce. They evaluate the overall change that contributes due to such technological advancements and consider that as the most vital thing to process their business operations and some also set those criteria for rewarding their employees as they have contributed to such technological innovations.

Introduction

No one can make arguments about the certainty that the human beings itself has made massive bounds in terms of advancements especially in the previous century. From the technological advancements which highly affect any business, how people communicate, the educational field or the medicine. Technology has not been missing any perspectives of an individual's life. There is not any shortage of individuals who would made arguments that in the twenty first century the advancements in technology have been highly dependent to the contemporary society. This paper falls out that business enterprises have established a negative relationship with technology in many ways. This paper will explore the variations that come up as the effects of technology and depicts that human beings are becoming highly dependent on technology and less dependent on us for executing the business functions and operations.

Case Study

Most of the failures of IT go unnoticed by the people, backend frameworks break, ventures go over-plan, or possibly an IT misses an interior deadline. Such was not the case with the IT failure at the UK-based Royal Bank of Scotland (RBS), which, unexpectedly, has a monetary record the extent of the UK economy. In accordance with Reuters, a terrible programming redesign made RBS' frameworks unable to process instalments for ...