Emerging Technology Trends and Their Impacts

Technology is one of the inevitable aspects of every business sector. Since its emergence, technology has depicted the characteristics of continuous change in its nature. New technology trends have emerged, necessitating a continuous improvement in the way businesses carry out their activities. Usually, when these technologies come about, the companies must adjust their operations effectively to cope with the changes. Failure to be flexible with the technology makes it difficult for the companies to continue surviving in the industry. In most cases, the rightful technology is a source of the competitive advantage to the businesses within their respective industries. Therefore, the emergence of the technological trends necessitates the developing of business cases, which acts as a framework for the control and efficient management for effectiveness. The approach is critical because it makes the organizations enjoy the best from the technology, thus, enjoy high productivity, sustainability and growth (Simon et al 2015, p. 3).

This paper focuses on the emerging technology trends in the world. It provides the general background information about the currently emerging technologies, their trends, challenges and impacts. The report also narrows down to a specific industry, highlighting how the technology is affecting the sector, the impacts to the possible market segments and what the consumers are expecting to come about in the sector due to the technology changes. Further, the paper provides a business case, which offers a framework model that can be adopted by the organizations in the adoption and management of the technology. Therefore, the paper is important in guiding the organization to understand and manage the technology effectively.

Background Information

Technology and Trends Affecting or are Likely to Affect the Business

The emergence of the technological trends has led to the disruption in every business sector. The organizations have been forced to be flexible in their operations for them to benefit from the technology. The technology has necessitated the changes in the way the businesses carry out their operations for effectiveness. They are forced to work in line with the prevailing technology in the industry. By so doing, these technology trends modify the workflows and the businesses process in different areas of the organizations. However, in as much as these technologies have a lot of benefits to the business organizations, they are also associated with many kinds of threats and challenges (DiPietro and Wang 2010, p. 49).

Some of the emerging technologies first include the internet and the internet protocols. The internet technology has been one of the key advances affecting almost every business sector. The organizations have been forced to integrate it into their operations for betterment, especially in achieving a connection among different nodes. Initially, the internet protocols that were used were the internet protocol version 4 (IPv4), but now the IPv6 has emerged. The technology has helped to improve the identification of the resources and devices on the internet, now supporting more devices as compared to IPv4 which had less capacity. The disruptive technology of IPv4 has provided the solution to accommodate the currently increasing number of devices on the internet, thus, overcoming the challenges related to the capacity on the internet usage (Nino 2009, p. 241).

Secondly, there has been an emergence of the cloud computing disruptive technology. The approach of the cloud entails the ability to carry out the computational activities from a remote location. The technology has been implemented in different ways with some using the remote software, hardware, the infrastructure, or their combination to carry operations (Kern and Schmidt2009, p. 3). The technology has its advantages and disadvantages, thus, organizations are forced to understand the capabilities before embracing them. Thirdly, mobile computing also forms one of the major emergences of the disruptive technologies. Almost every person in the world uses and desires to own or owns a mobile phone. It has changed the business operations, necessitating the integration of mobile computing in the activities (Stankovic 2014, p. 3). Fourthly, there has been an emergence of the technology that automates the knowledge of work. The model has made it possible to perform unstructured commands with the use of the computer systems.

Another disruptive technology that has emerged in the world is the internet of things (IoT). The approach has made it possible for the sensors to collect data, monitor, and make the optimized decisions easily for effectiveness. Also, the advanced robotics technology has been one of the major disruptive techs in different business industries. The technology has provided an improved and intelligent solution to automate various processes within the organizations for effectiveness (Cearley et al 2016).

Besides, the introduction of the autonomous and the near-autonomous vehicles has significantly disrupted the industry. Through the technology, it is possible for the vehicles to navigate, operate or move around with low or no human intervention (Xiao and Gao 2011, p. 1184). Additionally, there has been the emergence of the energy storage technology. The model has enabled the businesses and the systems to charge and store the energy for the future use making it possible to increase productivity (Desai et al 2014, p. 13). However, in all cases, in as much as the technologies seem robust and important, they are associated with their own implications and the negative impacts.

Key areas of the Business Operations Affected by the Technology

The emergence of the technology trends has affected every business industry in many different ways. They have been forced to change the way they carry out their operations, ensuring that they have adopted and integrated the necessary technology into their practices. Some of the business operational areas that have been affected by the emerging technology first include the customer service section (Roman et al 2013, p. 2216). Unlike in the past, the current emergence of the technology has made it necessary to integrate new trends for the betterment of the business. For example, customer service can now be done on the social media for effectiveness. Secondly, the sales and purchasing operations of the business have been significantly affected by the emerging technology. For instance, traditionally, the process was done manually but now the customers expect the use of e-commerce technology in the operation. Thirdly, the accounting operation has been affected by technology, necessitating the use of the computing systems for effectiveness (Dabbs et al 2011, p. 340).

Other business operations affected by the technology trends include the payroll and personnel systems of the organizations. They are forced to incorporate the systems and the technologies into their operations for effectiveness. Also, the emergence of the business information systems has made it necessary for the full and semi-automation of the different business processes in the organizations. Different market sectors such as education, manufacturing, retaining and many others have been affected by the technology trends.

Affected Market and Business Operation

The emergence of the technology markets has affected different sectors in many different ways. It has changed the way they conduct their activities, as a strategy to meet the new market needs and expectations. The customers have a new perception of different aspects of the operations of these organizations in satisfying their needs. Most customers are excited about the technology and always want to see this company embrace them. They expect an integration of the technology trends into their operations. One of the major business sectors that have been affected is education. The emergence of technology has forced the education market to modify the way they conduct their activities, necessitating the adoption of these trends in the sector (Mergel and Desouza 2013, p. 882).

The market segment in the education sector has significantly changed its characteristics since the emergence of the technological strength. The customers of this industry have high expectations that the sector should deliver. In the process, their needs and requirements have significantly changed presenting challenges to the sector. In education, the operations used manual ways to deliver services, which satisfied the students at that time. However, at the present, manual ways can work effectively for these institutions. Therefore, they have been forced to incorporate the technological solutions into their operations for effectiveness (Goldzweig et al 2009, p. 282).

The needs and expectations of the students from this institutions are changing due to tech-emergency, for example, the customers in this sector want the services delivered through the use of this tech trends. The sprout of internet technologies has made the expectations of the students to shift towards getting the education through the model. They want the institutions to utilize the internet technology to create convenient speed and other desirable factors in their learning process. Also, the rise of the mobile computing technologies has contributed towards making the customers of this industry to modify their needs. Unlike in the past where their needs were satisfied just through the provision of computers, they expect the technology to extend to their mobile phones. The need has been propelled by the ever-growing ubiquitous mobile computing in the world. Therefore, the industry is forced to embrace strategies to help them adopt and integrate the technology trends into their operation.

Besides, the rise of IoT together with cloud computing and internet has made the students in the education sector to have expectations or virtual classes, the shift clearly shows a change in their needs, necessitating the industrial modification of their operations to enhance effectiveness. They expect their institutions to make it possible for them to learn from wherever they are with the use of technology. They look forward to their institutions to deliver all the learning materials and any form of support through the utilization of the technology (Raisinghani and Young 2008, p. 67). Again, there should be a framework to manage these tech advances and ensure that they overcome all the implications associated with delivering the best services (Geronimo et al 2010, p. 1239). Additionally, some hybrid emerging technologies, such as the social media, have also contributed to the change in the taste of the customers’ in the education sector. They want a framework that will help them interact, share information and experience on different aspects of education.

Business Operations (Business Case)

The market change in the needs of customers of the education sector is forcing the industry players to change the way they do things. The schools have been forced to look into the emerging technologies, and incorporate them into their operations. The approach helps to satisfy the needs of the customers fully, in all the segments especially the distant students. Therefore, failure to adopt and integrate the trending technology leads to dissatisfaction with customers because their need also changes (Li et al 2013, p. 55). In this case, the key aspects that schools must consider in their business case include the full adoption of the technology in the day to day operations. There should be an online learning platform and other technological solutions for the betterment of the institutions.

The effective management of the disruptive technology is one of the most challenging aspects in business today. The scenario is true due to the nature of the emerging technology; it changes rapidly, and cannot be easily predicted. Without proper management, it becomes difficult for the organizations to determine when it is the right time to change, and hard to establish the right and most suitable technology trend for use (Woodard et al 2012, p. 823). In the process, failure to embrace the right framework for switching from one tech type to the other can make the organization to lose its competitive advantage in the market industry, thus, lowering productivity, reducing sustainability and slowing the growth level. In the education sector, being one of the most affected institutions due to tech trends, there is need to embrace an appropriate business case which acts as a model for managing technology.

The business case that can be used by the industry to manage the disruptive technology conforms to the adherence of the various theories for effectiveness. They offer a framework and a prediction of the possible industry change, providing the practical advice on the subject (Richter et al 2013, p. 132). These models include the disruptive innovation theory, the value chain theory and the resource, process and value theory. In the management of the trends, the organization can combine the advice and directions provided by these theories for effectiveness. Many companies follow the recommendations provided by these theories to stay positioned and pursue and implement the rightful disruptive technology that can help them to attain the competitive advantage (Goktas et al 2012, p. 191).

Firstly, in the business case, regarding the recommendations provided by the disruptive innovation theory, the organization has to consider the competitive aspect of its technology management. In the model, it is stated that companies which focus on sustaining the innovations are likely to outsmart new entrants to the market. However, the theory warns that new entrants can outsmart the market when they bring about disruptive technology (Thomas and Thomas 2012, p. 358). Therefore, in the business case for educational institutions, it is important that the already existing schools have strategies to maintain the innovation culture in their operations for effectiveness. On the other hand, the new entrants in the education sector should consider bringing about the disruptive technology for them to stand in the sector (Stokinger and Ozuem 2018, p. 780).

Secondly, in the business case for the educational industry, they must consider the value chain aspects. In this case, the organization should continuously evaluate itself to ensure that it always makes the correct decision in the product or service offered. There should be an end to end process scrutiny to ensure that there is a balance in the value created to all the customers, suppliers and the partners involved in the business (Monaghan et al 2011, p. 87). The school should always be on the forefront to research and establish critical information that can help in delivering the desired value to the customer. By so doing, the institutions will be better positioned to analyze all the relevant technology trends and come up with what can be implemented to enhance value to the students. Besides, a focus on the value chain will help these organizations to determine the right way of deploying the suitable technological trends into their operations (Bull et al 2017, p. 11).

Lastly, within the business case, there must be a consideration for the resource, process and value. The aspect is important because it explains the relationship between these three critical factors that must balance for effective adoption and implementation of the disruptive innovation (Qian et al 2014, p. 1546). Schools must have good information about the resources that they have for the change, the process which is the way it does its work and also the specific values, which defines the exact aspects that the organization want to do, considering its strengths and weaknesses. The model is important because it provides a framework that can be used by these educational institutions to analyze the best technology and the right approach to implementation (Shippee and Keengwe 2014, p. 103). Therefore, the combination of these theories provides a suitable business case for managing technology advancement.

Conclusion

In conclusion, technology can be said to have a characteristic of continuous change. The feature presents the necessity for different organizations to adopt a technology management framework for effectiveness. Some of the technological trends that have brought about disruptions in different sectors include the internet and internet protocols, cloud computing, mobile computing, automation of knowledge of work, IOT, robotics, autonomous vehicles and energy storage technologies among many others. Each of the above emerging technologies has its advantages and disadvantages. Again, they are associated with different implications that industries must consider in their implications. Different markets have been affected by their different business operation by their advent of these technologies. Some of these operations include customer service, sales and purchasing, accounting, payroll and many others.

The education sector, being one of the industries affected by the disruptive technology trends, has been affected by the changing needs and expectations of the customers. The characteristic has made it necessary for these institutions to modify and integrate the technological trends into their operations. In the business case to manage the disruptive technology effectively, three theories provide a critical framework recommendation and advice on how these institutions can use the trends for their wellbeing. They include the disruptive innovation theory, the value chain theory and the resource, process and value theory. These concepts work together to deliver a robust disruptive management framework model for the business industries.

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