Describe A Future Information Technology That You Believe Will Create A Paradigm Shift.
Technology creates a form of easiness in conducting all activities in the business cycle. Information technology in the Widget industry is fast changing and advancing in performance. The more advanced one has the better as it reduces most inefficiency experienced at work and is cost effective (Senn, 1998). Currently the world is in the second shift in the information technology, the first shift was experienced from the 1980s to the 1990s and the second one is happening now. However there is something that is going to have a great impact that will create a paradigm shift, this is what is termed as cloud computing (Laube. 2012).
Cloud computing is based on the concept of grid computers offering service oriented personal delivery of data and statistical information. The difference between cloud computing and any other form of web oriented software is the fact that it uses a computer in a collective virtual concept (Laube. 2012). This allows for most feature and all applications to run independent of configurations from specific servers and computers. This gives the chance to have web based software that is easier and simpler to maintain.
Cloud computing is a distinct and dynamic platform that is offered by internet. It is delivery on the internet upon the demand of goods and services (Laube. 2012). The demand resources in this software can also be easily scaled and are very flexible. This will help in the branding of commodities on the web. Branding is one of the crucial aspects of marketing for a product; this is because in a monopolistic market structure, branding is the major point of differentiation between and among products from different firms on the shelf (Khosrowpour, 2006). Cloud computing is similar to social media but it has its own differences that allow it to be used strictly for commercial purposes.
2. Identify and describe the domain in which the shift will occur.The shift will occur mostly in the functioning and operation of the firms. This is because better technology opens up doors to new opportunity. In order for a firm to experience advanced technology in its premises and distribution channels, it had to purchase all the required hardware that is the monitors, CPUs and other machinery. It then had to purchase the required software that is to be used together with the hardware and finally hiring IT experts was inevitable as not anybody can be able to work with the advancements in technology (Laube. 2012). With cloud computing most firms can wave good bye to doing all those activities. This is because the major characteristic of cloud computing is that a firm simply pays for a service as per the package of usage. This is what is termed as software as a service (SaaS).
Cloud computing is very cost effective. This is because it can be considered more as leasing at a cheaper price rather than purchasing. This is because it saves the firm the cost of purchasing hardware, software and hiring staff. There is also the maintenance cost for all the hardware that is usually experiences as well requirements to do away with the old version and getting new hardware (Khosrowpour, 2006). This is mostly common with computer monitors and CPUs. The only cost that the firm will experience is the operational cost that as compared to the prior costs is only a small portion of it. There will be a shift in the purchase and operational patterns of the firm as it encompasses the concept
The main concern is that it has not been greatly accepted into the market because it is new; however a study that was conducted stated cloud computing coupled with the already existing infrastructure in most firms increases efficiency as it becomes a hybrid of the original idea. Cloud computing is also like a social media. Unlike the traditional methods of advertisement that required feedback from television stations and a PR research to be conducted in order to know the opinion of the consumers (Khosrowpour, 2006). With cloud computing there can be an immediate feedback from the consumers as it offers that option. It works like any other social media in that aspect where direct communication between the firm and the consumers will be easy. The benefit of this is that it will save on cost of PR and improve the firm’s image due to immediate feedback. It will also improve the clientele relationship as issues and questions concerning the Widgets will be answered and solved immediately.
3. Explain the technology, how it works, and how it is different from what we have today.Cloud computing works in the same way as a simple email works; it has different applications in it. The applications are for instance customer relations management (CRM), human resource, Accounting and others. These are all open to the public to view; in any case the clients can even communicate with each other online. It offers a chance for people to exchange ideas (Laube, 2012). The good thing about cloud computing is that it can offer other products like a video game that would be downloaded at a price for the producer and will have the logo of the firm. This increases marketing, it is the reason as to why it was earlier termed it as flexible. It offers customer firm direct communication in the inbox outbox folders.
It is like w website but is more flexible and allows for commerce to take place online easily. Since it works with already available infrastructure it is more of utility.
Introducing technology into a firm means that there is to be the initial price that is usually very expensive, however with cloud computing, the only cost is the operational cost especially if the necessary infrastructure is already in place. Currently the economy is going through a recession that has led to a decrease in aggregate demand for goods this means that even meeting most of the costs for production is difficult. This is a solution that cuts down all the costs.
Cloud computing creates awareness, advertises commodities, communicates with consumers and potential clients and confirms bookings all at a go. This means all the costs that are experienced with such actions are reduced. It is also more it also helps in marketing of the product as well.
4. Give at least five (5) reasons why the technology will create a shift.Technology is in every aspect of our lives and economic activities are in no way left behind in this. This is because currently people respond to technologically advanced methods more than the traditional methods that were used in the past (Senn, 1998). This is because technology encompasses the use of internet which can be readily accessed by people anywhere using even phones. Technology creates mobility of so many factors of production and makes customer producer relationship to be easy. This is because a firm can communicate to its consumers at the touch of a button. This means that commercial activities will move towards the direction of technology.
Technology will cause a shift from the traditional personal dependent hardware to a shared resource technology that allows people to interact easily. This is because most people have computers in their homes and do not need to be seated just there in order to conduct business (Senn, 1998). They can be elsewhere but the availability of the software online allows for people to embrace it. The technology allows for storage of file and data online. This allows for accountability since most of the documents like quick books and excel are accessible online. This will make things to become much easier.
Technology is fast spreading these days and all economists want to deal with fast and effective means and methods of trade. Technology offers the platform whereby someone in Texas can order something in New York at the touch of a button. This allows for reliability and to have customized goods that are able to satisfy the clients. Technology also offers a vast world of innovations and inventions (Senn, 1998). This explains why every day there is usually a new invention on ways to improve technology and how to have better and advanced performance in the technology. This means that this concept will be embraced and more and more advancement will be made to improve on it and make its performance better.
References
Senn James A, (1998), Information Technology in Business; Principle and Practices, Oxford University press, New York
Khosrowpour. Mehdi,( 2006), Information Technology and Business Process Reengineering, Orthodox Print Press, New York
Laube. David R Raymond F. Zammuto, (2012), Business Driven Information Technology; Answers to 100 Critical Problems, Strategies and Software, University of Oklahoma.
