Relationship between Employee Benefits and Employee Satisfaction at Google
This dissertation contains the findings of a research project that investigated the relationship between employee benefits and employee satisfaction at Google. The performance of an organization highly depends on how motivated the employees are as this directly impacts on the efforts of the employees. Satisfied and motivated employees would put in the right efforts that will help an organization achieve the set objectives and goals. Therefore, this dissertation explores the types of employee benefits at Google, employee satisfaction and the impact of employee satisfaction on the operations of Google. This study has centred on exploratory research process rather than analytical research as the topic under research is itself exploratory. The findings presented are based on exhaustive questionnaires and interviews with 70 respondents being employees and remaining 30 respondents being managers respectively.
Employee Benefits-Dissertation
The interviews were recorded, decoded and analysed using descriptive statistics mainly the SPSS. On the other hand, the questionnaires were issued to the employees and after being filled, they were analysed using the descriptive statistics. The findings in both cases were presented graphically for better and easier understanding. In terms of the sex and age of workers, the study showed that most workers are male with a higher percentage of 55 as compared to the female percentage of 45 although most of these workers are young with an age bracket of 31-40 years. However, 78.3% of employees believe that the various benefits offered by Google have helped motivate them in their duties. Nevertheless, most employees prefer the retirement plan benefits (38.3%) and workers compensation plan (31.7%).
The aim of this dissertation is to conduct an investigation on the relationship between employee satisfaction and employee benefits at Google Inc. The business environment is quickly changing with increased emphasis being put on corporate growth and productivity. As such, job loyalty and satisfaction by employees have received outstanding attention from organizations. To achieve this, employee benefits motivate workers to be retained pending the investigation of the inquiry.
Research Objectives
To identify the various form of employee benefits offered by Google
To critically analyse the relationship between employee satisfaction and employee benefits at Google
To investigate the relationship between employee satisfaction and improved organizational performance at Google
1 – Introduction
Background of the Study
Problem Statement
Research Aim
Research Objectives
Research Hypothesis
Dissertation Structure
2 – Literature Review
Conceptual Framework
Forms of Employee Benefits
Workers Compensation
Unemployment Insurance
Social Security Taxes
Family and Medicare Leave
Health Insurance
Retirement Plans
Life Insurance
Dental Insurance
Employee Training
On-the-Job Training
Off-the-Job Training
Mini-Summary
Role of Employee Benefits
Employee Benefits and Satisfaction
Employee Satisfaction and Organizational Performance
Commitment
Motivation
Job Involvement
3 – Methodology
Research Process
Research Paradigm
Positivist Ontology
Positivist Epistemology
Research Approach
Research Strategy
Research Type
Methods of Data Collection
Primary Method of Data Collection
Secondary Method of Data Collection
Sample Size and Sampling Technique
Data Analysis Plan
Ethical Issues in Research
4 – Results
Part A: Descriptive Statistics
Part B: Inferential Statistics
5 – Discussion
To identify the various forms Employee benefits at Google
To critically analyse the relationship between employee satisfaction and employee benefits at Google
To investigate the relationship between employee satisfaction and improved organizational performance at Google
Critically Evaluate the Use Budgets in the Modern Business World
Research Title: Budget Plans. The Proprietors are always obliged to carefully plan and audit their find if they are to maintain their businesses regularly. For recognizing, measuring and calculating and reporting finance data, organisations rely upon accounting software. Moreover, there are others tools which incorporate planning, monetary proclamation, estimation and different apparatuses for the overseeing of finance data. Out of all the accounting tools used by organisations, businesses budgeting ones are the ones that are seen as the exceptional ones. What “Budget” entails is an incisive analysis of the organisation’s future spending strategy and plans.
Most organisations try to create their yearly budget plans on a yearly basis so that take into account every spending need in that office. A yearly budget plan entails that capitals assets that the organisation would try to acquire would not be easily done so because of the confines on the time. Small organisation differs from the big organisations in the sense that they are able to complete their budgets plans without having to consult experts in the field.
Knowing a budget means that you will not hastily spend money on operations that are relatively unimportant or of least priority, similarly having a budget ensures that the precious capital is properly used on only those economic resources that are worth your time and money. This naturally entails that the business organisations and owners may have to check for alternate sources of supply or vendors, and cutting down miscellaneous costs. Having a budget properly mapped out gives the company a sense of direction of how they are going.
It will also mean that you are able to bring about a comparison with the budgeting that happened the previous year and where and how the discrepancies occurred and if there is a way to resolve them. In the case of a budget fluctuation that had occurred due to an unexpected incident, such as an increment in the sales income, then it is not necessarily a negative business circumstance, instead, it is an opportunity, for the organisation to create to recollect and build a monetary allowance sum for future deals and increments.
This is where the flexibility of the budgets comes into the limelight, as it is capable of being edited into a plan which prepares the organisation for any imminent development or extension. The money saved due to budgeting spending can be utilized in the way of injecting it into a store account which is used to finance the selection of new business opportunities. This type of planning ensures that when the scenario arises when you have to close a deal to ascertain a possible expansion in business operations, it can be done without having to scramble for finances.
These extra capital saved can be utilized during times when there is a moderate progress for financing operational expenses. With the aid of an accounting or business program, organisation will be able to, more efficiently, create budget plans that allow them to plan their finances and monitor costs. Similarly, it is possible for them to create a better accounting plan or procedure that makes it possible for creating and overseeing spending plans, by virtue of data gathering. Therefore, software such as these is imperative for budgeting and data collection in a consistent and constant arrangement.
Budget Plans
Critically Analyses the Figures Shown in the Cash Budget
After careful examination of the monetary proclamation of Ground Ltd, it is inferred that the records receivables are consistent at Euro 464,480; therefore, there is no visible variance or occasional ones in deals. There at least 6 turns of the record receivables during a year, or during regular intervals, they turn at least once. The Stock during this time is constant at about Euro 484, 480 and only turns over at regular intervals.
On the other hand, the records payable have a tendency to turn over at least eight times a year, like clockwork. The time for records receivables is about 60 days and the equalization remarkable stays at Euro 484, 480, which gives the impression that Euro 464, 000 is the sum that is ought to be gathered on the receivables after 90 days. From such a point of view, a stock of Euro 1,000,000 at retail that turns on regular intervals and Euro 750,000 traverses the records receivable, and then it is imperative that about Euro 250,000 ought to be the amount that is sold on money premises alone.
Installments
It is estimated that the costs for money installments is 150,000 Euros for the coming 90 days. One can easily check this figure if they were to allude to the pay articulation costs. If there happens to be a measure of the money costs that is relatively unpleasant, so to speak, then it can be acquired by a deft utilization of working costs minus non-money costs, i.e., devaluation. In a scenario where there is no regular variable at work, then it is often the case, that he aggregate sum is divided by four, which will in turn keep an eye on the sum planned for the subsequent 90 days.
Cash budget, will have an estimation of the anticipated sources as well as the purpose and use of the future cash costs. This purpose of the budget is to give a measurement of the cash needed to meet anticipated money necessities. If it is not possible, then it is up to the administration to find new sources of income and cash, and the inputs are only gathered from a small collection of different budgets. When the trade spending plans is spent upon, all that remains will be used for the financing the future budget, that in turn organizes ventures, debt, interest salary and expenses.
There are two areas of the cash budget – the sources of cash and the uses of cash. The former consists of the starting money equalization, cash money receipts, debt claim collections, and offer of advantages. The former consists of arranged money uses, start spawn from material budget, direct work budget, overhead budgets and expense budgets that is part of the selling. It will also contain a multitude of details for settled resource purchase and profits to shareholders.
In the unlikely possibility that there exist certain bizarre and extensive trade equalization, they are adequately maintained in the financing budget plan that shows the any possible ventures for them to consider. Similarly, if there exists any negative parity inside the cash budget, then it is inside the financing budget, a clause that details how to manage these equalization by means of stipulating a certain time and measure for this obligation.
In the illustration given, we found that an expert spending plan of organization proceeds here with the planning of calendar of expected money accumulations. The business figures are acquired from the business budget of the organization. 70% of offers are relied upon to be gathered in the quarter in which deals are made and the rest are required to be gathered in the following period. Bad debts are insignificant. Also, an exorbitantly substantial profit installment in the second week of the budget plan, combined with a vast resource buy in the next week, puts the organization in a negative money position.
Paying out such an extensive profit can be an issue for banks, who don’t prefer to issue credits with the goal that organizations can utilize the assets to pay their shareholders and along these lines debilitate their capacity to pay back the advances. In this manner, it might be more astute for the organization to consider a little profit installment and maintain a strategic distance from a negative money position.
Ways in Which Cash Budget Can Be Improved
Balancing cash will occur quite impressively inside a solitary accounting period that will entail the concealment of cash which is often quite fatal for many organisations. In order check the arising of such situations, then it is necessary for maintain a cash conjecture on a weekly basis. These transient plans are sensible for only a month, but then the ability to anticipate any occurrence of delays quickly vanish, and then the organisation is coerced to plan on a month to month basis. What happens during this tumultuous time is that the plan created is lost in significance after a month and to a great extent absolutely erroneous after two months.
In its least complex structure, income is the development of cash all through your business. It is regularly portrayed as the procedure in which your business utilizes money to create merchandise or administrations for deals to your clients, gathers the money from the deals, and after that finishes this cycle once more.
There are few ways to improve cash budget like making ordering your product for customer easy and by improving commitment and handling well the shipping process. Accelerating the trade change period out this region requires that you utilize the fastest method for conveying your items or administrations to your clients. Superfluous deferrals in the transportation and treatment of your items or administrations can include countless to your money transformation period, also the negative effect this can have on your client connections.
Another important way to improve cash budget is the completion of the invoice properly. Your absence of consideration in this stride can accidentally protract the money transformation period. Your receipt really starts the money gathering process for your finished deals. You’ve presumably made sense of at this point most clients don’t pay without first getting some type of receipt for the products or administrations you sold them. Receipts serve as a suggestion to your clients that your products or administrations have been conveyed. Receipts additionally serve as a suggestion to your clients that they have a commitment to pay you.
Apart from this, you can give some credit considerations to your client. With existing clients or customers, it is best to envision bring up in their credit limit at whatever point conceivable. This can be done by taking a gander at the client’s present credit point of confinement and contrasting it and your normal levels of business with them. You can maintain a strategic distance from postponements in satisfying their request on the off chance that you can settle on your credit choice well in front of the client’s solicitation for an adjustment in their credit limit. Foreseeing existing clients’ credit needs can fundamentally diminish your money transformation period, and awe the clients in the meantime with your eagerness to expand their credit limit.
References
Steven, M 2003, ‘ Budget Economics: Principles in action’. p. 502. ISBN 0-13-063085-3.
Panagariya, A 2008 ,’The Emerging Giant’ p. 514. ISBN 978-0-19-531503-5
The process of globalization is acting to enhance many changes in everyday life of the population of the world, and leadership is considered one of the main means to achieve the desired results in the most effective way. Application of leadership styles in health care organizations is considered extremely important, as human life is the greatest value, as well as those health care workers who apply various leadership styles in order to contribute to people’s health maintenance and as a consequence, to life safety. Examining the concept of leadership, it is very important to distinguish several styles that can be noticed in the modern practice and also provide a clear explanation of traits of successful leaders. Description of real world leaders and their styles and practice would be useful for better understanding of the results of the concept application.
However, first of all, a clear definition of the concept of leadership needs to be provided. Leadership is not a passive theory, but it is a process which represents actions of people. It is important to pay attention to the fact that organization, hospital in this particular case, cannot represent a leader, but only a person can perform this function, as leadership is based on interactions among people (Leedy, Ormrod, 2010).
Leadership is directed to a person or a group of people whose behavior is aimed to be changed. After the aim is reached, these people become the followers and their present is an integral feature of leadership.
As a process, leadership means that some people should be influenced, and there are several ways to act so. First of all, the followers can be changed by intellectual activity; secondly, emotional influence can be applied, and finally, the leader might cause behavioral influence.
Being a complex concept, leadership does not only allow the leader to apply various modes to influence people, but it also gives the leader an opportunity to apply various leadership styles.
Leadership Styles
Three main styles of leadership can be defined. These are authoritarian, democratic, and free reign style. The first one is used when the leader tells the subordinates what should be done. For example, it takes place when a registered nurse tells their subordinates what actions need to be taken to provide a better health care or follow the rules of the hospitals. This style is appropriate when the leader has enough information and skills and also when the subordinates are well-motivated. Time limitations are acceptable for the style and do not make any significant difference when decisions of the leader take into account real opportunities of the subordinates.
Democratic leadership style is especially popular now. It is applied when the leader believes that it is better to work together with the team. Nevertheless, despite the common work, the leader is the person to make the final decision. However, this style of leadership is applied when it comes to internship in health care settings, as the leader does not possess enough information or skills. Such leaders are not required to have some sophisticated skills, so they start working with other employees who have better qualification. Such style is considered mutually useful, as it enables the leader and the team to make more reasonable decisions.
Free reign style is also applied at health care settings, especially when it comes to the work of nurses. Today their roles are increasing and they perform more and more functions. Some of them, such as medication prescription, are allowed to be performed without control of physicians and this example might serve to illustrate the style. It is important to notice that, despite the fact that representatives of the team make various decisions, their leader is the one to be responsible for them. The style is used only when health care providers are able to analyze the situation on their own and identify what should be done and how it should be done (Service, 2009).
Regardless of the fact which style of leadership is chosen, the leader needs to possess the following traits:
Being self-balanced
Being ambitious
Decisiveness
Enthusiasm
Being self-confident
Realism
Desire to learn
Being just and fair
Being creative, and so on.
The list of the traits can be continued, and it has been proven by Linda Aiken and Geraldine “Polly” Bednash who were recognized to head the list of the nursing leaders. These two nurses have outstanding experience in terms of teaching, research, and clinical practice; they have received numerous honors and credentials for their contribution to the world of medicine and health care provision (Fralic, 1999).
Thus, it is possible to conclude that leadership is extremely important to be applied in every health care organization. The history knows numerous leaders who provided health care and contributed to the health of population, and all of them possessed a range of skills. These are being improved and made more advanced under the influence of the process of globalization.
References
Fralic, M. (1999). Nursing Leadership for the New Millennium: Essential Knowledge & Skills. Nursing and Health Care Perspectives, 20 (5).
Leedy, P.D. and Ormrod, J.E. (2010). Practical research: Planning and design. (9th ed.). Upper Saddle River, NJ: Prentice Hall.
Service, R. (2009). The leadership Styles Quotient: Measuring toward Improve. Business Renaissance Quarterly, 4 (1).
Title: Research Methods – Research in common parlance refers to a search for knowledge. One can also define research as a scientific and systematic search for pertinent information on a specific topic. In fact, research is an art of scientific investigation. The Advanced Learner’s Dictionary of Current English lays down the meaning of research as “a careful investigation or inquiry especially through search for new facts in any branch of knowledge. Redman and Mory define research as a systematized effort to new knowledge. Some people consider research as a movement, a movement from the known to the unknown.
It is actually a voyage of discovery. We all possess the vital instinct of inquisitiveness for, when the unknown confronts us, we wonder and our inquisitiveness makes us probe and attain full and fuller understanding of the unknown. This inquisitiveness is the mother of all knowledge and the method, which man employs for obtaining the knowledge of whatever the unknown, can be named as research.
Research is an academic activity and as such the term should be used in a technical sense. According to Clifford Woody research comprises defining and redefining problems, formulating hypothesis or suggested solutions; collecting, organizing and evaluating data; making deductions and reaching conclusions; and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis. D. Slesinger and M. Stephenson in the Encyclopaedia of Social Sciences define research as “the manipulation of things, concepts or symbols for the purpose of generalizing to correct or verify knowledge, whether that knowledge aids in construction of theory or in the practice of an art”. Research is, thus, an original contribution to the existing stock of knowledge making for its advancement.
Research Methodology
Research methodology is a way to systematically solve the research problem. It may be understood as a science of studying how research is done scientifically. In it we study the various steps that are generally adopted by a researcher in studying his research problem along with the logic behind them. It is necessary for the researcher to know not only the research methods/techniques but also the methodology. Researchers not only need to know how to develop certain indices or tests, how to calculate the mean, the mode, the median or the standard deviation or chi-square, how to apply particular research techniques, but they also need to know which of these methods or techniques, are relevant and which are not, and what would they mean and indicate and why. Researchers also need to understand the assumptions underlying various techniques and they need to know the criteria by which they can decide that certain techniques and procedures will be applicable to certain problems and others will not. All this means that it is necessary for the researcher to design his methodology for his problem as the same may differ from problem to problem. For example, an architect, who designs a building, has to consciously evaluate the basis of his decisions, i.e., he has to evaluate why and on what basis he selects particular size, number and location of doors, windows and ventilators, uses particular materials and not others and the like. Similarly, in research the scientist has to expose the research decisions to evaluation before they are implemented. He has to specify very clearly and precisely what decisions he selects and why he selects them so that they can be evaluated by others also.
From what has been stated above, we can say that research methodology has many dimensions and research methods do constitute a part of the research methodology. The scope of research methodology is wider than that of research methods. Thus, when we talk of research methodology we not only talk of the research methods but also consider the logic behind the methods we use in the context of our research study and explain why we are using a particular method or technique and why we are not using others so that research results are capable of being evaluated either by the researcher himself or by others. Why a research study has been undertaken, how the research problem has been defined, in what way and why the hypothesis has been formulated, what data have been collected and what particular method has been adopted, why particular technique of analyzing data has been used and a host of similar other questions are usually answered when we talk of research methodology concerning a research problem or study.
Research Methods
Decision-making may not be a part of research, but research certainly facilitates the decisions of the policy maker. Government has also to chalk out programmes for dealing with all facets of the country’s existence and most of these will be related directly or indirectly to economic conditions. The plight of cultivators, the problems of big and small business and industry, working conditions, trade union activities, the problems of distribution, even the size and nature of defense services are matters requiring research. Thus, research is considered necessary with regard to the allocation of nation’s resources. Another area in government, where research is necessary, is collecting information on the economic and social structure of the nation. Such information indicates what is happening in the economy and what changes are taking place.
The decision to be made in the current research work is whether or not the organizational culture affects the alignment of IT strategy with the business strategy of a firm. Decision making is not the part of research method and process in the subject research. Through the research we aim to gather relevant and pertinent data to enable us to make appropriate decisions based on the past data. Various parameters that constitute the organizational culture will be first established and validated and the research work shall start.
Types of Research
The basic types of research are as follows:
Descriptive versus Analytical
Descriptive research includes surveys and fact-finding enquiries of different kinds. The major purpose of descriptive research is description of the state of affairs as it exists at present. In social science and business research we quite often the term Ex post facto research for descriptive research studies. The main characteristic of this method is that the researcher has no control over the variables; he can only report what has happened or what is happening. Most ex post facto research projects are used for descriptive studies in which the researcher seeks to measure such items as, for example, frequency of shopping, preferences of people, or similar data. Ex post facto studies also include attempts by researchers to discover causes even when they cannot control the variables. The methods of research utilized in descriptive research are survey methods of all kinds, including comparative and correlational methods. In analytical research, on the other hand, the researcher has to use facts or information already available, and analyse these to make a critical evaluation of the material.
Applied versus Fundamental
Research can either be applied (or action) research or fundamental (to basic or pure) research. Applied research aims at finding a solution for an immediate problem facing a society or an industrial/business organization, whereas, fundamental research is mainly concerned with generalizations and with the formulation of a theory. “Gathering knowledge for knowledge’s sake is termed ‘pure’ or ‘basic’ research”. Research concerning some natural phenomenon or relating to pure mathematics are examples of fundamental research. Similarly, research studies, concerning human behavior carried on with a view to make generalizations about human behavior, are also examples of fundamental research, but research aimed at certain conclusions (say, a solution) facing a concrete social or business problem is an example of applied research. Research to identify social, economic or political trends that may affect a particular institution or the copy research (research to find out whether certain communications will be read and understood) or the marketing research or evaluation research are examples of applied research. Thus, the central aim of applied research is to discover a solution for some pressing practical problem, whereas basic research is directed towards finding information that has a broad base of applications and thus, adds to the already existing organized body of scientific knowledge.
Quantitative versus Qualitative
Quantitative research is based on the measurement of quantity or amount. It is applicable to phenomena that can be expressed in terms of quantity. Qualitative research, on the other hand, is concerned with qualitative phenomenon, i.e., phenomena relating to or involving quality or kind. For instance, when we are interested in-.investigating the reasons for human behavior (i.e., why people think or do certain things), we quite often talk of ‘Motivation Research’, an important type of qualitative research. This type of research aims at discovering the underlying motives and desires using in depth interviews for the purpose. Other techniques of such research are word association tests, sentence completion tests, story completion tests and similar other projective techniques. Attitude or opinion research i.e., research designed to find out how people feel or what they think about a particular subject or institution is also qualitative research. Qualitative research is especially important in the behavioral sciences where the aim is to discover the underlying motives of human behavior.
Conceptual versus Empirical
Conceptual research methods are related to some abstract idea(s) or theory. It is generally used by philosophers and thinkers to develop new concepts or to reinterpret existing ones. On the other hand, empirical research relies on experience or observation alone, often without due regard for system and theory. It is data-based research, coming up with conclusions which are capable of being verified by observation or experiment. We can also call it as experimental type of research. In such a research it is necessary to get at facts first hand, at their source, and actively to go about doing certain things to stimulate the production of desired information. In such a research, the researcher must first provide himself with a working hypothesis or guess as to the probable results. He then works to get enough facts (data) to prove or disprove his hypothesis. He then sets up experimental designs which he thinks will manipulate the persons or the materials concerned so as to bring forth the desired information. Such research is thus characterised by the experimenter’s control over the variables under study and his deliberate manipulation of one of them to study its effects. Empirical research is appropriate when proof is sought that certain variables affect other variables in some way. Evidence gathered through experiments or empirical studies is today considered to be the most powerful support possible for a given hypothesis.
References
Kothari, C. R. (2004) Research methodology: Research Methods and techniques. New Age International.
Slesinger, D., & Stephenson, M. (1930) The Encyclopedia of Social Sciences and Research Methods Vol. IX.
Woody, C. (1924) A survey of educational research in 1923. The Journal of Educational Research Methods, 9(5), 357-381.
Is the use technology management important in a business organization? And
Is technology management necessary?
Introduction
Technology is creation and use of means that are technical and draws on subjects such as engineering, industrial arts, and pure science. Additionally, the applications of the aforementioned knowledge encompass technology.
On the other hand, management entails directing, planning, evaluating, and related activities. It also covers responsibility, accountability, and authority. Management of technology entails the responsibility of making decisions, which ensure that an organization is successful. As a manager, some of the roles that are related to management of technology include hiring the employees to manage business technology (like IT experts), developing products, buying technological equipment, and making upgrades to the existing technological structure.
The use of technology in the workplace is inevitable in the 21st century. According to Teece (2010), the advent of IT changed the way people conduct business in addition, the way in which business is conducted: This includes the way in which employees work, relate, and communicate (with both consumers, fellow employees and other entities). It has also revolutionized the way organization is managed, the way change is managed, service delivery, customer loyalty retention, business correspondences, meetings, project evaluation, etc., are performed in an organization (Ajjan et al,, 2013).
Use of technology can be used in various ways as revealed above. In this paper, we will look at how technology is used in an organization, the importance of technology, and management of technology for maximum benefit of an organization.
By looking at the use of technology in organizations and its importance, I will be able to cover, sufficiently, the two-research question. I will make use of literary works on technology and management and how various authors and researchers have proved this. In taking this approach, the paper underscores the importance of technology management, its important, and any shortcoming that may be associated with technology.
The Benefits of using of Technology in Business Organizations
Communication
Maizlish & Handler (2010) point out that technology is important in business communication, and advanced use for technology has enabled real time passing of information by a click of a button, business correspondences and decisions are able to be passed faster and hence prompt and quick action and measures can be taken for instance to mitigate an emergency like customer complaints. The use of technology enables multi-level communication (Guffey & Loewy, 2010, August 23).
Example technology makes it easier for multinational employees to access information at a go regardless of the miles that the branches are away. Crews & Stitt-Gohdes (2012) reveal that importance of social media, such as Twitter and Facebook, in communication. Adding that the trick is to manage social media sites well and update regularly to keep the followers updated; For example ‘’Nordstrom’’(2015), one of America fashion retail uses Facebook in updating the followers on discounts and new items (see facebook.com/Nordstrom). This reveals the importance and necessity and the need for technology management.
Planning and ROI
Technology has a role in planning and return of investment (ROI) (Tapscott, 2008). He opines that technology is very crucial as a planning. It is needed to sequence completion of a particular business strategy, change, or investment. If a business seeks to make use of technology in products and service improvements, both the manager and the employees have an easy time to plan as compared to conventional physical panning (Turban et al, 2008). Gartner (2013) argues that incorporating technology is expensive as business budget is largely comprised of IT and planning is important to ensure that there is return.
Technology Management
We see the importance of technological planning in Software and Gaming companies like Ubisoft that has multiple studios (Montreal, Shanghai, Paris, Toronto, japan, etc.). For better planning the company has to use technology in order to coordinate between the various studios in relation to launching, deadlines, series and development (Ubisoft, 2015).
Increase Customer Service
Lovelock et al (2009) reveals one of the main purpose of business is to ensure desirable customer service, and adds it has been easier by the use of technology and platforms such as social media and websites, customer data can be secured and used in products and service improvements (website cookies and survey).
Additionally, Campbell & Frei (2010) reveal that, technology if managed properly can be used to simplify and fasten the payment of goods and services and processing of payments, for example technology enables businesses such as Alibaba, e-Bay and Amazon to conduct e-commerce. The success of this can be seen in Alibaba; it command over 80% of china commerce, has a market cap of over 215 billion (September 2014) in the range of big tech companies like Apple, Google and Microsoft (Forbes, 2014). This is no doubt because the company uses its technology well and takes advantage of internet use to expand its connectivity, revealing the importance of technology.
Increase Productivity
Mahalik & Nambiar (2010) add that technology, if well managed, increases of production in both quality and quantity. As compared to human labour that may be affected by sickness, emotions, and fatigue, technology, when managed well, is effective and fast. Many businesses that are in the producing business are always aware of the terms-efficiency and time. This can only be made possible by the use and proper management of technology. An improvement is advancement always translates to increased quality and output of products and production respectively. Thus, technology management ensures that technology saves time for example automation.
A clear illustration is the way Microsoft is using its Windows 10 Preview to receive feedback from user after installation so as to build and better interface for Windows 10. The technology has ability to record bugs, send updates and feedback to Microsoft server, additionally; a user can also review the Operating System or give manual feedback on any improvement.
Human Resource
Many business nowadays use technology in their Human Resource, this includes in key areas such as recruitment, whereby many businesses such as Deloitte, KPMG, Total, etc. have online recruitment portals for recruiting graduates and experienced labour (KPMG, 2015). Moreover, Human resource manager may use technology is assigning tasks to fresh employees and tests (Aptitude Tests). To add on, Gardner, Gino, & Staats (2012), argue that technology plays an important role in monitoring the behaviour of employees and performance using CPM (Computerized performance monitoring). Lastly, proper management of integrated technology can help in training, workshops, and seminars (Alge & Hansen, 2013).
Innovation
The use of technology is very important especially for the innovation team. The level of innovation can be highly increased with internet that enables the innovators to come up with new ideas, create new products, and improve of the existing ones. In addition, in order to understand competition, a business must understand the market, the similar products that are in the market among other issues. This enables an organization to be able to learn on new technology, improve on it, or come up with new ways of making a product that is faster and less costly.
Marketing
Lastly, it has enables organization reach market that were inaccessible using print. The use of E-marketing, e-mails, e-newsletters, social media marketing (YouTube, Facebook, Google, etc.) have made this possible (Friel, 2009). A success story is marketing is shared by Grisak (2014) of Freedom House LLC; a company which increase subscriber, registrations per month, customer retention rate and the number of online visitors from 1000 to 12000 per month using e-marketing tools.
Shortcomings on Technology Use
To understand the importance of technology management, we also need to looks at some of the shortcoming that are associated with use and overreliance of technology in business organization.
Expenses
One shortcoming of having technology, especially cutting-edge, is cost. There is the initial cost of purchase, training of staff, and regular and ongoing maintenance of the technology. Additionally there must be a backup just in case there is system failure so that production is not halted.
Security
Technology such as internet, email, e-banking, e-commerce is always at the mercy of hackers and cybercrime. Technologies that make use of consumers’ data are always prone to abuse as the data may be used to steal from the very customer who the company is trying to retain (Shaw et al. 2012).
Distractions
This is in relation to the employees of an organization; it is true that technology can be used to help the Human Resource Manager in recruitment, evaluation, and performances of employees. However, the same can cause distractions to the same employees and affect their level of production (Amit & Zott, 2010). This interruption consists of emails and instant messages, online games, pornographic content, music and videos. Since distractions take up time, which could have been used for constructive business work, the company performance may suffer.
The Constant Need to Upgrade
Many technologies have features, which need constant and regular upgrades. This as a result leads to additional costs and expenses for the business. Example many companies make use of computers in the offices, this computers may become outdated or the software may need upgrading, for instance from Window 7 to 8, and to the recent Windows 10. The need for upgrade is also related to security, an upgrade may be needed to boost the security with the advancement of hackers and fraudsters.
Effects on Customers
The use of technology is has a flipside. Since the technology is can be used to bridge the communication gap with customers, it may also act as a barrier. This means that it has both negative and positive impacts on the consumer.
Some customer will really prefer the convenience and time saved on paying online, while for other it boils down to privacy. In the same way some consumers prefer talking to customer service personnel on phone than via email and may be frustrated with technology-after all not all people are tech savvy.
Technology Management Dissertations
Thus technology is key to business success and the manner in which the technology is managed will determine the level of technological success and failure; making technology management necessary in business organizations.
Conclusion: Recognizing the Importance of Technology Management
Looking at the role which technology play in the life of a business, it goes unopposed that presently it is impossible for it to survive and compete equally without employing technology.
Technology helps in key aspects, daily aspects, such as communication, planning, innovation, etc. However, in the same way it has its downside in a business organization. These include expense, security, distractions, and constant upgrades among others. It is through these shortcomings that the aspect of technology management comes in, here it enables an organization to identify the correct technology, train its staff and upgrades.
The technology management ensures that the shortcomings such as the impact on customers do not affect business. Managers have to ensure that the technology is user friendly and easy to use for both the employees and customers. If it is a manufacturing or processing technology, it should be easy to use for the operators to use.
Technology management should be a continuous process to ensure efficiency. This is very important is areas such as security and privacy. Hence, websites, payment systems, customer data, and important business secrets have to be protected through upgrades and technological change.
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