Question

In: Economics

1. Identify an organisation you are familiar with that has exploited technological change to its advantage...

1. Identify an organisation you are familiar with that has exploited technological change to its advantage and another organisation that has not coped well with change.

Required: Critically discuss what made the first organisation successful and elaborate on the consequences for not coping with change for the second one. (150 words)

Solutions

Expert Solution

1.With the advent of technological progress, most of the organizations across the world have been able to reap its benefits that has resulted in better profit scales of them. For example, consider the organization of hospitality providers. With the advent of technological knowhow, it has become possible now for them to induce better services at a faster pace in a reliable fashion and at low costs. The hospitality services can now be accessed online so that all the features of the sector are known even without approaching the organization or firm as such. It has also helped in the development of tourism potential of the nation which has positive impacts on a nations’ economy.

                                             Although many organizations have benefited from the technological progress, there are still some left behind. As it is known, agriculture forms the backbone of many states. Although many modern technological progress have been made in the agricultural organization, the traditional agricultural practices that contributes to the economy have remained the same and their process of manufacturing have remained unaltered by the technological progress. The reason for this is that they operates in interior and rural areas and hence are unaware of the technological progress happening around due to their inaccessibility to technological aids.


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