The operation and structure of all the industries has been greatly altered by technology. The central question for the management of the existing firm is not that whether the technology would be beneficial or not but will the business gain from its change or not. Many aspects of business are evolving through technology and its new business opportunities are also being created through the same.
The penetration of technology in every function of business has rendered the opportunity to every employee to observe that technology could allow them to have quality data which is well organized which could be used to make better decisions. Moreover, day-to-day running of the business is supported by the technology. The acceptance of the new world of information technology to the manager is one side of the equation (Goodhue 1995). Getting employees to work on the technology is the other part and it requires deep understanding of human nature and patience. This is because of the fact that most of the people are fearful of technology. A fear is established in employees that technology would replace them altogether for the sake of cutting costs or it would displace personnel into unfamiliar and new job function.
Every aspect of the business could be improved with the advent of the new information technologies. The businesses are more efficient and flexible with the invention of fax machine, telephone and new developments in video-conferencing and wireless communications. Businesses that are more willing to accept the technology are more likely to prosper and survive. Hence, today the workplace is full of heavy technology where the basic essentials are the fax machines, complex network of phones and high end computer net working(Jack 1998). It is by high technology that the today’s management and business continue to get transformed.