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Question about Technology and Management

What are some factors that management should examine prior to approving a change in its company's technology?

Once a decision has been made to change a company's technology, what members of the company should be part of the project team that helps to implement the change?

Based personal experience, describe some of the ways that a technology change has benefited a company where you worked

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A. What are some factors that management should examine prior to approving a change in its company's technology?

Among the factors affecting the approval of change in the technology of a company are as follows:

1. Will the new technology solve and help the organization in accomplishing its needs? There is a need to undertake a cost-benefit analysis to make sure that the purchase of new technology justifies its costs. Moreover, management need to check on more than one equipment/technology to make sure which among the ones in the market best accomplishes the company's needs and which among them has the best reasonable price.

2. Does the company have enough funds to pay for the new technology? Before undergoing a decision that entails paying a big amount, it is important to check the financial status of the company and see if it can afford to buy the new technology. Management needs to study other alternatives. Leasing may be beneficial in terms of not making the company spend a huge amount upfront and just paying the lease fee per month. All options regarding the financial costs must be covered before the purchase.

3. What is the learning curve for the employees going to be? Will the employees find it easy to understand and learn about the new technology? This is to be considered because the time to learn greatly affects the performance of the employee and the productivity of the organization. ...

Solution Summary

930 words; 3 references; decision making on company's technology

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