Technology Assessment
It is a fact that technology has made everything faster and more convenient. While it may not always be a good thing, technology won’t be going anywhere and will further improve in the next 50 years.
Businesses that have always done traditional forms of business functions won’t have any choice but to adapt to technological changes. It may be difficult at first, but they will soon realize that technology is key to be more profitable and sustainable. You may also see career assessment examples.
Companies need to assess what technologies they are using in their daily operations, and a technology assessment is the only tool to make that assessment. Here are some technology assessment examples (in PDF format) you can use when you will be creating your own technology assessment.
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How to Create a Technology Assessment Plan
Here are some tips on how to create an effective technology assessment plan, either for a small/medium enterprise or for a large corporation:
1. Identify the technology you do not have
The first thing you are going to do in your assessment is to identify the technology you do not have in your company. List down the types of technology your sales, marketing, accounting, and human resource departments do not have. Don’t forget to identify technology intended for security as well. The safety of your employees is paramount to the sustainability of your company.
2. Identify the technology you want to implement
Remember that the technology you want to implement should be long term, as it is not cheap and requires a sizable budget to be implemented.
List down the specific type of technologies you want to implement (POS system, biometrics, job applicant tracker, accounting software, etc.) and list down their corresponding prices. To limit your costs, there are numerous free software you can use as well, so make sure you include them in your priority list. You may also see assessment plan examples.
3. Have a sizable budget for the technology you will use
Speaking of sizable budget, make sure to have a budget enough for the technology you are going to purchase. It is not required to spend so much on technology as you can opt at free software and systems, but it is better to be prepared on the costs that are probably going to incur. Security systems alone cost a few thousand dollars, so be careful on how you are going to create your budget. You may also like performance assessment examples.
4. Consider what technology other companies are using
You may want to consider the technology other companies are using and apply in them for your own company.
Make sure that if you are going to use the same technology from other companies, the companies you choose to copy technology from should be profitable and successful. It is very risky to use the same technology from a start-up, as they are still testing the technology and might switch to another one if they don’t find that specific technology to be useful or convenient. You may also check out assessment questionnaire examples.
Also, if you are seriously considering to use technology that other companies are using, use technology that is relevant and useful for your company.
5. Outsource the technology assessment
You can always outsource your technology assessment to a third party. Among the third-party companies that create technology assessments are private research and consultation companies. But make sure that if you are going to outsource your technology assessment, proceed to a reputable research firm known to create quality research works. You might be interested in IT assessment examples.
The last thing you want to have is a poorly written and researched technology assessment that does not help your company in any way.
Information Technology Risk Assessment Example
IT Risk Assessment Example
How Technology Has Affected Business Functions
There was a time when technology was not associated with computers and artificial intelligence. When an invention was made and it had a revolutionary impact in business operations, it was already considered as technology. The telegraph, calculator, bar codes, and light bulbs were definitely revolutionary by the time they were invented, and due to their impact, they are still being used today. You may also see needs assessment examples.
Technology has definitely affected how people do business, and here are some ways where technology has affected various business functions (sales and marketing, human resource, accounting and finance, research and development, and production).
1. Sales and Marketing
Sales and marketing (although some companies have separate sales and marketing departments) is probably the most important department in any company.
Without sales, the company does not have any earnings and will dive into bankruptcy in less than a week or month. In older times, every sale was recorded in a book or ledger. Sometimes, discrepancies are never avoided causing companies to report data or information in their general sales reports. Discrepancies in sales reports will automatically cause discrepancies in financial reports, thus resulting in companies losing millions.
One invention that made a revolutionary impact in terms of sales is the POS (point of sale) machine, more specifically the cashier box. POS systems made it easier for businesses to track every item that was sold, thus making it easier for them to create monthly and yearly sales reports. Inventory systems have also been developed to keep track of the items or products that the company currently have, and also which products will be arriving.
In terms of marketing meanwhile, companies no longer have to print out large posters and tarpaulins just for them to increase their visibility in the market.
Technology has made it possible for digital posters to be used, in which these posters are embedded in the company’s website for everyone to view not only the company’s target demographic. Editing the poster designs are also made easier due to numerous image editing software such as Adobe Photoshop and CorelDRAW. They are also easier to edit and less costly compared to creating a physical poster.
Social media has also made it more convenient for companies to conduct their marketing activities. Using social media applications such as Facebook, Instagram, Twitter, and Snapchat is very easy, and they are often free which make them very affordable especially for a start-up company.
2. Accounting and Finance
Similar to sales and marketing, technology has also affected accounting and finance in a big way. Various accounting software have been developed the past few years and allows the businesses to create financial reports in a more convenient manner. Some accounting software are linked to POS systems which makes it easier for companies to record their daily sales transactions.
Similar to the sales, accounting and finance play a major role in every company’s success. Without sales and without each sale transaction being recorded, businesses will not be able to function properly. Additionally, various financial reports (income statements, balance sheet, statement of cash flows, statement of owner’s equity) also need to be created for management to formulate better financial decisions.
3. Human Resource
Without people, companies would never function. Human resource is vital to any company, either for a large corporation employing 1,000 people to small business employing less than five individuals. In the past two decades, human resource systems have been developed to make it easier for HR personnel to find, shortlist, and hire employees. Human resource systems have also been developed to keep employees motivated in the workplace. You may also see nursing assessment examples.
Before, human resource departments would receive hundreds of hard copy applications on a daily basis. This results in some applications getting lost, and some shortlisted applications getting ignored due to pile of applications being accumulated. Now, job applicants would just submit their applications online, making it easier for human resource personnel to screen and shortlist applicants. You may also like risk assessment questionnaire samples.
In regards to keeping applicants motivated in the workplace, HR systems allow HR personnel to keep track of activities they have planned for a specific department or for the entire organization. Top management can also create and monitor the budget given to human resource for team building and workshop activities.
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The Future of Technology
Speaking of technology, here are some technological advancements to look out for in the future. Some may never come into fruition, but there are others that have already began production and will be fully maximized by numerous companies and corporations soon.
1. Holograms
If you’ve seen Iron Man, you have definitely noticed Tony Stark doing all sorts of projected computer functions without the use of a single laptop or gadget.
Holograms can also be seen in probably all futuristic science fiction movies (Star Wars and Star Trek as the more popular ones). Can you imagine doing all your work, projects, and editing through merely a projection anytime and anywhere? Apple has already created a concept hologram phone, and it might be sold in the market within the next ten years. You may also see job risk assessment examples.
2. Brain implants
Brain plants have already been around for quite a while, but the future of brain implants revolve around the implant forcing the person to do an action based on the implant’s instruction.
The implant is controlled by a central server or computer that tells the person what to do, and basically involves using all of the body’s five senses. Think of the 1999 classic The Matrix where the brains of the protagonists were plugged to a computer which then transported them to another dimension. You may also like security assessment examples.
3. Humanoid workers
Artificial intelligence: probably the final frontier in terms of technology.
A robot or a humanoid (a robot that looks and functions like a human being without being entirely human itself) doing everyday work responsibilities at a faster and more efficient rate than humans. Numerous manufacturing companies have already utilized robots in their assembly lines, and it won’t be soon before robots resembling human beings having high levels of IQ and EQ to take over. You may also check out workplace assessment templates and examples.
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It is a fact that technology has heavily impacted the business environment, with more technological advancements expected to arrive in the next couple of years.
Technological assessments are needed by companies to assess if the technology they are using are up-to-date and can maximize their profitability. If your company lags behind in terms of technology, it is not too late for you to create an assessment and apply the necessary technological assessments in your company. The examples we provided (in PDF format) will help you create your own assessment. You may also see free needs assessment examples.
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