A Cost-Benefit Analysis of Technological Innovation

Technology has certainly made a tremendous impact on the business world. In many ways, it allows an organization to gain and maintain a competitive advantage. Quicker access to up-to-date information allows for more rapid decision making. E-mail, video conferencing, and hand-held computers allow for quicker communications and more rapid problem solving. Computers, fax have to assimilate that information and make decisions. According to an article by Paul Rogers, machines and conference calls allow organizations to employ highly skilled individuals, disregarding demographics. However, technology is not without its drawbacks. Along with rapid decision-making comes more frequent errors. Quality can suffer as a result. Along with rapid communication, comes a loss of free time. If a manager is always accessible, his or her personal life will suffer. Along with this comes increased stress from being constantly under pressure. This could lead to increased health problems. Although there is a real advantage to telecommuting, it can lead to a lack of organizational loyalty both for the employer and for the employee. More rapid turnover in employees can cause discontinuity in an organization