IMPACT OF TECHNOLOGY IN MANAGEMENT PRACTICES

SYNOPSIS: IMPACT OF TECHNOLOGY IN MANAGEMENT PRACTICES Introduction The core function of an organization is management, who are responsible for managing the wellbeing of the company and its employees. There are different sub-domains in management like human resource management, financial management, technical management etc. In this research discussions and analysis is conducted about the core view of the impact of technology in management practices. There are some distinctive areas to be focused in management like planning, organizing, leading, staffing, controlling, communicating, setting realistic goals, and leading by example. With advancements in technology, organizations have reshaped their business processes. Now they are highly integrated, and more streamlined. Problem Statement The crucial role of technology in business and especially management practices is evaluated and analyzed in this research by considering a number of secondary sources such as journal articles and books along with a primary quantitative research will be held in order to understand the depth of the topic appropriately. Literature Review At first organizations had to deal with a lot of paperwork, even a specific conference room was mandatory for meetings. But technology has removed the barriers for these along with tasks such as communicating, outsourcing, task performing (Bolatan et al. 2016). With technological advancement organization are benefitted in a number of ways which include, Communicating with employees has become easy – employees can attend meetings or can perform their work face to face even staying outside the office.Project management software have been introduced which helps to improve the quality-quantity of work, in delegating, reviewing, and assessing a task. This helps in keeping the business organized.Technical software helps a company to become fiscally healthy, thus it helps in cost management. If proper data is given automated process or robotics gives accurate results, helps in keeping records with its date and time.New software helps managers to track progress of a deadline-based work. With advancement in technology, productivity and performance of the organization is also improving.To keep an organization secure, technology helps to maintain its level of security. Software provides data encryption, helping authorized person to read or retrieve data. In modern times figure print or facial recognition features have been introduced for security to the systems in workplace (Turban et al. 2006).At first it was easy to steal any important or crucial information has reduced with implementation of security measures in organizations. It has become easier to keep a track on any employee.Technology has helped connecting employees anywhere anytime. This helps in team work as well as understanding each other. The improved collaboration in turn helps manager, team leaders to stay in touch with employees. This also helps in keeping the client updated with project progress.Time management is a key factor in any field. In workplaces with time management an employee can meet the deadline of a work, if not, can make client unhappy (Soto-Acosta, Popa & Martinez-Conesa, 2018). With advancement in technology, employees are able to optimize daily work routine and are now much focused.HR, administration, accounts departments of a workplace are three pillars of an organization. Other than this the theories related to business and management is highly impacted by technologies. In large and small corporations, all divisions, including marketing, distribution, finance and development, now usually rely on the IT resources of the organisation to handle the activities and functions needed to complete business processes (Holland & Bardoel, 2016). The Organizational Theory of Henry Fayol, which consists of 14 concepts for the management of a corporation and technology as a prime determinant. In most industries, the influence of technology on the management theories spreads to any branch, as computer hardware and software applications have replaced paper-based job arranging and directing processes. Moreover, management’s Contingency Principle notes that there is no one who is best at handling. In other situations, leadership styles that prove successful in one scenario can be unacceptable. Managers have more knowledge at their hands than ever with the use of cloud devices, mobile phones and other always-available technologies. In addition, too much data could make it difficult to make a choice. In order to work efficiently, administrators need to process the news, data and other content they receive in print, audio and video formats which include technology to process. Methodology Essential assessment of the validity and reliability of the data may be performed in an acceptable manner with the assistance of research methodology. In relation to this research paper the research will include a primary quantitative research by conducting a survey among 81 individuals who belong both in executive and managerial level to understand the depth of the topic more effectively. References Bolatan, G. I. S., Gozlu, S., Alpkan, L., & Zaim, S. (2016). The impact of technology transfer performance on total quality management and quality performance. Procedia-Social and Behavioral Sciences, 235, 746-755. Retrieved on 12.10.2020 Retrieved from https://www.sciencedirect.com/science/article/pii/S187704281631610X/pdf?md5=480f1d7ee2803aebfa1f2002e94fad01&pid=1-s2.0-S187704281631610X-main.pdf Holland, P., & Bardoel, A. (2016). The impact of technology on work in the twenty-first century: exploring the smart and dark side. . Retrieved on 12.10.2020 Retrieved from https://www.tandfonline.com/doi/full/10.1080/09585192.2016.1238126 Soto-Acosta, P., Popa, S., & Martinez-Conesa, I. (2018). Information technology, knowledge management and environmental dynamism as drivers of innovation ambidexterity: a study in SMEs. Journal of Knowledge Management. Retrieved on 12.10.2020 Retrieved from https://www.researchgate.net/profile/Isabel_Conesa/publication/323180634_Information_technology_knowledge_management_and_environmental_dynamism_as_drivers_of_innovation_ambidexterity_a_study_in_SMEs/links/5a8dc2f6a6fdcc808c0f097a/Information-technology-knowledge-management-and-environmental-dynamism-as-drivers-of-innovation-ambidexterity-a-study-in-SMEs.pdf Turban, E., Leidner, D., McLean, E., Wetherbe, J., & Cheung, C. (2006). Information technology for management: Transforming organizations in the digital economy (Vol. 5). USA: Wiley. Retrieved on 12.10.2020 Retrieved from https://pdfs.semanticscholar.org/e57f/1a9cf22e1327e5625b8c91703d21e2a22027.pdf