An Exploratory Study on Adopting New Technology

Abstract

Now a day new technology is growing at a fantastic rate irrespective of the domain like Information Technology, Medical, Infrastructures, Telecommunication named a few. Organizations are striving to keep up to date pace of technology to trap the business from the market to get maximum profits and to deliver in the quickest time to their customers with agreed quality. To take managerial decision regarding adoption of new technology or not, with certainty; few basic rules devised in this paper after doing an extensive exploratory research[1].

With extensive use of new technology, company operate in efficient and profitable mode. It has been observed champions are assigned identify and evaluate new technologies that are beneficial to the company. Based on your business model, you may be negotiate with vendors who promise that adoption of new technology will save you cost, quality and productive. Based on the risk appetite of the group, the impact of new technology will have on your business processes and people, it forward in bringing path-breaking technology in house. After adopting a new technology successfully, people feel proud to be working on the cutting-edge technology makes them much confident to take their next assignment. It takes organization to be ahead of the peers in term of technology innovations to get more business from the clients.  Companies like IBM, Accenture, Microsoft, and Google have already spending lot of revenue on research work on adopting new technology in the market like social media, cloud computing, mobile tablets, and analytics named a few in IT domains. Similarly, Medical Industries have already started research in new technologies like nano structures to enhance their diagnostics imaging capability and other biological advances to detect and treating many diseases