Technology as a Part of Business Development in the United States: Overview
The drastic changes that the realm of technology has undergone over the past few decades are truly amazing. Information technology, which was initially applied to the process of interpersonal communication yet worked its way into the business environment quickly, served as a powerful impetus for the enhancement of business processes, including not only logistics but also the supply chain management processes, in general. As a result, technology plays a huge role in the modern business environment and can be deemed as one of the most important tools for establishing a presence in a specific market. The U.S. economy is not an exception to this rule; in order to successfully represent itself to the American audiences, a company must focus on the available IT tools, especially as far as the use of social networks for promotion is concerned.
Essential Factors Affecting the Company’s Position in the U.S. Market: A Technological Perspective
One must admit that the significance of applying the appropriate technological tools to market products and services, as well as communicate with customers, suppliers, and other stakeholders, is quite high in the environment of any market nowadays. With the increase in the influence of IT tools and the role of the Internet in people’s lives, the use of IT tools for marketing purposes and other aspects of a company’s operations has become a necessity even in developing countries (Azim & Hassan, 2013).
As a result, the technology-related factors that affect the company’s position in the context of the American market are similar to those influencing the firm in any other economic environment. Particularly, in order to success in the specified environment, one will have to consider the use of social networks and especially distribution platforms (e.g., YouTube). It is remarkable that the application of relevant IT tools will help not only promote the product or the service in question more successfully but also forecast the further changes in the market so that the appropriate strategy could be designed to manage the changes (Wang, Ng, Wong, & Luk, 2013).
The identified phenomenon aligns with the principles of the Disruptive Innovations Theory (Latif, 2016). According to the principal tenets of the theoretical framework in question, the innovations that create a new market value and are termed as disruptive can provide a powerful boost for the organizations that use them to promote their products and improve the quality thereof. As a result, a significant displacement of the leading companies and the further process of less significant organizations taking their place can be observed in the market according to the Disruptive Innovations Theory (Ndubuisi, 2012).
Current Strategy Assessment: What Makes the Approach Passable
At present, the company’s approach can be deemed as sensible as far as the use of technology, in general, and IT tools, in particular, is concerned, the organization, while not investing in the development of its technological foundation, has an array of tools at its disposal and uses them actively. For instance, the communication channels have been developed quite well, with a range of social networks, including Facebook and Twitter, being the primary means of keeping the target audiences updated.
However, despite the successful application of the latest technological innovations to advertize the products and services offered by the organization, the company desperately lacks advanced technology that could help it manage the processes associated with logistics. Particularly, the issue of transportation and the communication with suppliers deserve to be listed among the primary reasons for concern. There is no need to stress that, to succeed in the American market, one will have to develop an elaborate and efficient supply chain. Otherwise, the product quality si going to drop consistently, and so will the levels of customer satisfaction until the organization goes bankrupt
Furthermore, the problems associated with information security need to be listed among the primary areas to be addressed before becoming a part of the American market. There is no secret that cybercrime has become a tangible threat to companies worldwide. Without a substantial security strategy, the organization is likely to suffer huge losses within a relatively short amount of time.
Suggestions for Entering the U.S. Market Successfully
As stressed above, the significance of enhancing the security of the company’s data is crucial to the further progress thereof. It is strongly recommended that the organization should adopt a more sensible approach toward securing its data, a well as the personal information of the staff members. Unless adequate measures to facilitate data safety are introduced into the company’s design, the consequences may be dire. The identified changes, in fact, concern not only the introduction of the latest technological advances in data security into the key processes taking place in the company but also teaching the staff members to use the corresponding tools in the proper way. Studies show that, when being under time pressure, employees tend to overlook some of the essential information security measures (Susanty, Miradipta, & Jie, 2013). Furthermore, the importance of confidentiality needs to be reinforced so that every single member of the company’s personnel could contribute to the reinforcement of the information safety levels in the organization.
More importantly, the overall attitude toward the use of innovative technology needs to be redesigned. It is crucial that the latest technological advances should be used as the means of enhancing the processes related to supply management. As a result, a rapid increase in the quality of the services and, therefore, the satisfaction and loyalty levels among customers, can be expected.
Conclusion: Recommendations for Entering the U.S. Market: Technology-Related Challenges
Following the principles of the Disruptive Innovations Theory and using the available tools to further the organization’s progress is crucial to the company’s’ success in the global market. Because of the competition and the threats to which the firm is exposed in the environment of the global economy, one must make sure that the available resources are used to the full extent. Consequently, the company will have to focus on investing in the purchase of the latest equipment and the use of the newest IT tools as the means of communicating with the stakeholders successfully.
Finally, the issue of staff training must be addressed. Unless the firm invests in helping its employees acquire the skills of using the company data safely, the information security levels will drop. In light of the current cyber crime rates, it will be a reasonable step to make sure that the company’s data is safe from hackers. As long as the company views innovative technology as an opportunity to gain a competitive advantage and improve its performance, it is likely to succeed in the environment of the U.S. market.
Azim., R., & Hassan, A. (2013). Impact analysis of wireless and mobile technology on business management strategies. Information and Knowledge Management, 3(2), 141-151.
Latif, A. H. (2016). Handbook of research on driving competitive advantage through sustainable, lean, and disruptive innovation. New York, NY: IGI Global.
Ndubuisi, E. (2012). Disruptive technologies, innovation and global redesign: Emerging implications. New York, NY: IGI Global.
Susanty, A., Miradipta, B., & Jie, P. (2013). Analysis of the effect of attitude toward works, organizational commitment, and job satisfaction on employee’s job performance. European Journal of Business and Social Sciences, 1(10,) 15-24.
Wang, F. L., Ng, S. K., Wong, K., & Luk, L. (2013). An initiative to enhance education in business and information technology. In M. R. Kwan,, G. Lee, & J. Lam (Eds.), Hybrid learning: Theory, application and practice (pp. 141-148). Toronto:: ICHL.