Abstract

            Technological achievements change customer needs and requirements, compelling businesses to reconsider potential benefits and losses which technological and technical progress may cause on business. The development of such energy sources will cause revolutionary changes in all business areas; cheap and unlimited energy is particularly important for the continuity of business performance. The development of special memory chips that could be implanted in human brain will positively impact employee knowledge and skills in all business areas.

  Management

            The results of technological advancement invariably impact our lives. Businesses frequently feel the growing need for adapting to the changing technological environment. Technological achievements change customer needs and requirements, compelling businesses to reconsider potential benefits and losses which technological and technical progress may cause on business; very often, it is impossible to evaluate the impact which specific technologies may cause on businesses in the long-run.

            Businesses constantly seek effective and convenient sources of cheap and possibly unlimited energy (Urban, 1998). The development of such energy sources will cause revolutionary changes in all business areas; cheap and unlimited energy is particularly important for the continuity of business performance. However, the cost and the ultimate price of such energy sources may make them unaffordable for the majority of small and medium enterprises. In addition, these small technical devices may need sophisticated technical support that may not be always available to consumers. As a result, businesses will not be secured from possible energy shakes and will still need to adhere to traditional energy solutions, to guarantee the stability of business performance in short- and long-term periods.

            The development of a transporter similar to that used on “Star Trek” will allow goods and people moving across the world cheaply and instantaneously. People will save time and financial resources, while all types of decision-making processes will immediately speed up. However, traditional transporting firms and enterprises are likely to go bankrupt, being unable to cope with the growing competition on the side of the new transporter.   

            The development of special memory chips that could be implanted in human brain will positively impact employee knowledge and skills in all business areas. Firms will no longer need to direct considerable financial resources on training and educating their workers. In these contexts, firms that specialize on training and educating employees will lose the major portion of their customers. Simultaneously, firms that will choose to replace traditional education with new chips will need to technically support these small devices. Otherwise, such technical efforts will not bring the anticipated business results.

            Businesses and individuals treat information as the most valuable resource that should be readily accessed and disseminated without any limits. Information networks similar to Internet provide businesses with unlimited opportunities for contacting current customers and suppliers and expanding their market shares (Urban, 1998). However, Internet has compelled organizations to reorganize their technical departments: computers had to replace traditional means of mailing and delivering information. Internet is the bright example of how computers replace people in business; as a result, people have to learn new skills and to adapt to the changing labor market conditions. 

References

Urban, S. (1998). Information and management: utilization of technology – structural and

cultural impact. Gabler.