Understanding the Impact of Technology

Webster Dictionary defines technology as the practical application of knowledge especiallyin a particular area. These "particular" areas encompass every aspect of our daily lives. Technology is responsible for all of the modern conveniences that we take for granted. Wheelen and Hunger write that properly managing technology and innovation is crucial in a fast-moving interconnected world. <Tab/>Technological advances have shortened the amount of time it takes to get a new product …

…tire orders must be generated thru the computer system. I think several other organizations encounter this same problem during their dailey operations. <Tab/>After reading the Strategic Management text, I have concluded that technology has made a positive impact on the business world. Competition has drivern corporations to maximize technological advances in all areas of our world. Organizations must embrace technology in order to keep the company both profitable and competitive.