Question

Provide a comprehensive explanation of the major categories of decisions that may be linked to the function of technology and its strategy. Then explain the Top 3 measures of performance that you would recommend to an organization.

Answer 1

SOLUTION:

*The strategy and the technology are tangled together which means one cannot separate the two things. Technology is the nerve of a company's strategic planning.

* The other fact about the strategy and technology is that one is incomplete without the other or we can one cant grow with the help of the other.

Major categories of decisions; linked to the function of strategy and technology:

1) Cost Control - The first term that falls in this category is Cost Control. The term Cost control means monitoring the entire cost to satisfy that the company is lineup with the company's budget.

* Cost control is a way of managing control over the expected budget of a company.

* Cost control ensures where the funds of a company are allocated.

* It also ensures any changes that should be applied to meet the expected budget goal.

* Tracking real-time productivity.

2) Revenue generation: The next term in the category is revenue generation. Revenue generation is a quite basic and high demand term used in strategy building. Every company's prime is to generate revenue in a short time period.

* There are various ways to generate revenue; creating an ideal profile, applying best practices to gain income, increasing-price sales, etc.

* Increasing profitable products in the market leads to revenue generation.

* Implementing new and unique plans in the market.

3) Security: Securing the business in a market full of tough competitors is a big challenge for any company. Being secure and creating a secure environment is the goal of a company.

* Market is full of risks and uncertainty, so a company should enter the market accordingly.

* Technological risks are trending in the current market. as many cyber crimes are happening.

* Security of a company is created in its business strategy plan. which ultimately provides real-time facts and data according to the market risks.

4) Unique initiatives: The term unique initiative means creating a new and unique idea, as to how a company should perform in the market.

* Unique initiative gives a company the freedom to think big and according to the market and the budget limit.

* Creating new initiatives makes a company or breaks it.

* It helps a company in gaining more revenues and beat the tough edged competitors.

Three measures of performance recommendations

1) Employee performance standards - An organization should determine it's employee's performance. also, an organization should find out whether the employee is suitable for the job or not, whether the employee is performing his duties for the company or not.

* An organization should make recommendations about how an employee should perform, also, it should publish various guidelines and different honor codes, that should not be violated by an employee in any conditions.

2) Graphic scales for rating - Graphic scales are basic and perfect scales for rating any product align jobs. rating scales are of various patterns like; 5 pointer scales, 10 pointer scale. An employee is rated according to his work on the graphic scale.

* Graphic rating is the most accurate method of measuring performance of an employee.

3) Defining objectives - An organization should always define it's objectives and goals to an employee, in this way an employee is always aware of the fact that what the organization wants and desires. and how an employee could help in achieving its objectives.

CONCLUSION:

From the above-mentioned points we can conclude that there are always different ways, how an organization performs and set its objectives, and achieve it in the market.

also, it states that an organization is made from its employees, and measuring employee's performance will lead an organization to its desired objective.

Thank you

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