The Importance of Technology in Management | Top MBA colleges in Bangalore

Posted by Prof Manoranjan H P On 09/06/2022 12:00:44

Companies and employees feel that technology can help them run more efficiently. As technology advances, non-digital alternatives to daily tasks that allow firms to compete are becoming increasingly scarce. When it comes to controlling and arranging employee workloads, modern technology provides a plethora of useful tools and programs that managers can use. Many of these business solutions allow employees to train themselves via online workshops and FAQs, making adoption easier than ever before with little downtime and, as a result, higher employee productivity.

Data analytics is the process of selecting relevant data with the goal of conducting research and making decisions based on the information gathered. Market trends, consumer behavior, demography, retail sales, rival pricing, and more all contribute to a company's ability to combine and exploit information for increased efficiency. Furthermore, the introduction of Online Analytical Processing Systems (OLAP), such as Oracle's Express Server, has made it easier to examine and select data in order to match it with other reports.

With numerous individuals performing from home offices now, keeping tabs on employees has become more complicated than simply peeking over the closest cubicle wall. Only with the utilization of technology, can management hopes to possess an accurate barometer with which to take a live insight on the output produced by remote workers or satellite offices.

Time Doctor’ is one such example of a program being used to keep track of what exactly employees are performing and the amount of time they spent on the tasks. Time Doctor is employed to manage attendance and improve the productivity of a web workforce, to assist and ensure they become highly efficient.

Global competitiveness is a topic of discussion in today's organizations, and those who will compete must be comfortable using communication technologies in situations when actual meetings are not possible. People can now communicate face to face in real-time with a team of clients on the other side of the globe thanks to modern technology. Managers can keep in touch with remote personnel using services like Skype or other video call systems. Instead of using email or regular phone calls, these technologies have allowed managers to establish a closer personal relationship with their employees. Chat rooms, discussion groups & forums, and Google+ hangouts are some other options for keeping staff in touch.

Managers now have the obligation of implementing suitable technology in order to foster collaboration, maximize productivity, achieve the most basic firm results, and appropriately direct personnel. In today's business world, the sole credit for steering a company toward success belongs to a company's understanding and management of the technologies that contribute to that success, as well as the ability to spot possible dangers within that technology.

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