Question

acquiring the technology that is best suited for a business is not an easy decision to make and it requires, financial, technical and institutional resources. should the business develop its technology itself or develop it from a source outside? discuss the strategies that a business must consider when choosing technology. for each strategy indicate its advantages and disadvantages.

Answer 1

Here are the factors one needs to consider while choosing techonology :

Utility Factor:

• First, we need to establish how the technology will benefit our business
• Examine hidden costs related to training
• Focus on maximizing output

Usability:

• The employees need to know how to work with the new technology
• Many times workers are resistant to change
• This might even slow down the workflow instead of pacing it up

Security:

• With cyber crime at its highest in recent years, Security is of prime interest
• No confidential data should be allowed access to any third party
• All information must be safe and secure and not vulnerable to hacking/fishing

Customer Service:

• The relationship with your client is what makes or breaks your business
• Customer should be ready to pay for the value added to your product by the new technology used
• Inprovement in quality should be a key factor which will benefit both the business, as well as the consumer.