Appropriate Technology, It Revolution, And Their Business Impacts

APPROPRIATE TECHNOLOGY, IT REVOLUTION, AND THEIR BUSINESS IMPACTS.  A crank-operated mechanical cash register selling at half the price of electronic ones IT Revolution Environment Appropriate Adaptation Technology and When multiple technologies exist, the most suitable one for the company/country must be chosen. Appropriateness depends on factors like natural conditions, incomes, scale, demand, use characteristics, and customer characteristics. The latest or sophisticated technology may not suit many environments. Much of Japan's successful growth resulted from systematically acquiring appropriate foreign technologies aided by competent government scientists/engineers. The appropriate technology concept, implying intermediate technology combining traditional and modern elements, gained importance especially in developing countries. Sophisticated Western technologies weren't suitable for some developing country sectors. For instance, Mekins Agro Products introduced easy-tomaintain, bullock-drawn farm equipment with ICRISAT designs for India and other comparable markets. Some examples of "innovation backward" for affordability:  A washing powder brand designed an inexpensive, manual washing machine for low ownership markets and Business The computer and information technology changes are making the business environment highly dynamic. IT provides new organizational designs, links customers/suppliers electronically, enables production/service efficiencies through electronic data interchange, alters competition, coordinates work, improves knowledge worker productivity, and facilitates communications/supervision. Major IT handle: trends managers must  Transforming structure organizational  Strategic IT applications  Pervasive workplace integration  Personal computing knowledge workers  Shift from computation communications for to Globalization Impacts IT advances have tremendously fostered globalization, acting as a key facilitator. IT breakthroughs require larger scale economies and markets. Global sourcing grew with trade liberalization and tech-enabled transport cost reductions from containerization, large cargo ships etc. Technology monopolies also encourage internationalization. The IT and communications revolution, by shrinking time and space, turns the world into a global village with disappearing borders. Transactions must be rapidly responded to. Technology transfer to developing countries enables combining sophisticated production with low wages, delinking productivity and wages. Key globalization beneficiaries:  Financial dealers with instant worldwide communications  MNCs integrating global production and roaming markets  NGOs campaigning worldwide  Skilled labour working globally supported by IT  Consumers choices accessing instantly global Emerging Business Impacts IT is revolutionizing marketing, enabling interactive customer relationships, new products/services, low-cost delivery etc. The internet facilitates interconnected electronic marketplaces for commercial exchanges between manufacturers and customers. IT helps identify and profile customers, reach them quickly and effectively, make inventory and distribution efficient. E-commerce becomes ebusiness when a company network links customers, employees, vendors and suppliers for real-time transactions. IT transformation in distribution enables reduced inventories, delivery times, stock-outs, paperwork; faster responses and better production planning. Retail chains powered by sophisticated IT systems are gobbling up small retailers. Retailing is going online. Match-making infomediaries like online malls connect buyers and sellers.