Question

The creation of a technology actually a communal operation? How is the nature of technology?what must we as humans, living in a shared environment, consider in the creation of technology? Have we lost sight of the wonder of technology?

There is no better, more easily understood, and more fun explanation of the complexity of markets than Leonard Read’s “I, Pencil.” It ought to give considerable pause when we listen to the arrogance of politicians who tell us they can manage an economy better than millions, perhaps billions, of independent decision makers in pursuit of their own goals. Its message to would-be planners is to bug out!

Leonard Read’s delightful story, “I, Pencil,” has become a classic, and deservedly so. I know of no other piece of literature that so succinctly, persuasively, and effectively illustrates the meaning of both Adam Smith’s invisible hand—the possibility of cooperation without coercion—and Friedrich Hayek’s emphasis on the importance of dispersed knowledge and the role of the price system in communicating information that “will make the individuals do the desirable things without anyone having to tell them what to do.”

We used Leonard’s story in our television show, “Free to Choose,” and in the accompanying book of the same title to illustrate “the power of the market” (the title of both the first segment of the TV show and of chapter one of the book). We summarized the story and then went on to say:

“None of the thousands of persons involved in producing the pencil performed his task because he wanted a pencil. Some among them never saw a pencil and would not know what it is for. Each saw his work as a way to get the goods and services he wanted—goods and services we produced in order to get the pencil we wanted. Every time we go to the store and buy a pencil, we are exchanging a little bit of our services for the infinitesimal amount of services that each of the thousands contributed toward producing the pencil.

“It is even more astounding that the pencil was ever produced. No one sitting in a central office gave orders to these thousands of people. No military police enforced the orders that were not given. These people live in many lands, speak different languages, practice different religions, may even hate one another—yet none of these differences prevented them from cooperating to produce a pencil. How did it happen? Adam Smith gave us the answer two hundred years ago.”“I, Pencil” is a typical Leonard Read product: imaginative, simple yet subtle, breathing the love of freedom that imbued everything Leonard wrote or did. As in the rest of his work, he was not trying to tell people what to do or how to conduct themselves. He was simply trying to enhance individuals’ understanding of themselves and of the system they live in.That was his basic credo and one that he stuck to consistently during his long period of service to the public—not public service in the sense of government service. Whatever the pressure, he stuck to his guns, refusing to compromise his principles. That was why he was so effective in keeping alive, in the early days, and then spreading the basic idea that human freedom required private property, free competition, and severely limited government.Professor Friedman, the 1976 Nobelist in Economic Science, is Senior Research Fellow at the Hoover Institution, Stanford, California.

Answer 1

This is an age of digital networking, this is specific age of digital networking has enabled each and every company to use the information Technologies towards improving their overall services and gaining the strategic advantage over different platforms.

As every business is going digital and the digitalization is one of the basic needs for each and every organisation the effect of implementing the information technology into the company's organisation is going to be an everlasting benefit for a specific organisation.

Without proper Information Technology Services and Organisation cannot exist in today's industry and the specific usage of the information technology and different aspects of the company's operational structure is also very beneficial as well as important to operate and stay competitive in today's market.

Information Technology has been implemented in each and every organisation around the world and has connected multiple pages into one place it is impossible to stop the advantages of the information technology is. Strategy advantages in information technology has become a necessity for today's organisations and there will be a necessity for today's organisation as they are a necessary part of the organisations in current state.

Security is a very essential for any organisation to maintain high quality working in structure as well as to provide adequate support to the overall structure of the organisation. This is specific factor required to be assessed properly improvising the overall operability of the organisation as well as to maintain different privacy as a security standards which would be very beneficial for maintaining as well as operational advantage.

Most of the security protocols in organisations are responsible for reducing the overall productivity. This is specific term is true but implementation of the security is very necessary for any organisation as it prevents the organisation to come at a complete stop rather than just being a bit slow as compared to the threats attacking the system. Social networking privacy policies are essential to maintain company standard as well as to keep the sensitive information of the internet or social media that could be very disastrous if the company lose bhajans formation on an online platform with millions of users and competitors looking at it.

Compromising with security can lead to complete disaster as well as it would directly reduce the overall efficiency as less productivity of the operational activities of the system is affected by any kind of security thread. Implementation of security programs reduce the overall productivity by a little margin but help the organisation to maintain productivity for a longer time rather than coming to a full stop.

As per the social media privacy policies, implementation of a policy inside your organisation should be done on the basis of available options and assessment of such a specific situation where the best option is applicable in the organisation structure, proper training programs as well as implementation of electronic autonomous systems would also be very beneficial for different organisations to maintain productivity and to also reduce the overall risk of threats over the social media network. Social media networking privacy policies help an organisation to maintain their confidential information at their own systems which benefit the organisation by huge margin as competitors can be benefited if any secret or critical information leak out on social media.

All in all we can say that Technology has provided intensive support for maintaining high quality standards in security. Even if the security system reduces the productivity by a little it helps the organisation to maintain the productivity at a longer time which compensate its overall availability towards any specific implementation in organisation.

P.S. - Please leave a comment if similar revision is needed.,