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Adopting New Technology

You are the senior executive responsible for technology innovation for Company A. The company learns of the cost and efficiency advantages of a new technology that could replace the one it is currently using. Will the company then adopt the new technology as quickly as it can? Explain the reason for your answer.

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New technologies are constantly and consistently being developed in fast succession. There are many things to consider before a company makes a decision to change their existing mode of operation, and the technologies that are in place to make this operation work. First, what is the cost of implementation of new technology? New technologies can and do save businesses thousands of dollars every year, but not without a price. Many new technologies come with a hefty price tag to start; after a period of time a company can recoup these charges and begin saving substantially, but start-up fees must be considered at the onset of any change (Chen & Tsou, 2007).
In addition to start-up fees, considerations, such as difficulty in operation must be considered. How long will ...

Solution Summary

This 482 word solution provides 3 references to tie its substance together. It places the reader in the position of senior executive in company A. It provides guidance that ties cost and efficiency advantages and change technology together for consideration.