Avoiding The Pitfalls Of Emerging Technologies

Running head : Pitfalls of Emerging TechnologiesAvoiding the Pitfalls of Emerging Technologies[insert name][insert aim s name][insert professor s name][insert subject]Avoiding the Pitfalls of Emerging TechnologiesNowadays , b be-ass technologies ar being developed by the second . These technologies offer a wide array of applications in different professions , academes or even in everyday spiritedness . Technologies argon being developed to respond to ever ontogeny need of the medical profession so as to visualise that what they give or how they serve their patients is the best way executable . The in the altogether technologies that atomic number 18 being disc overed are utilised so that it trick be applied to various dilemmas with regards to purpose parvenue and better ways to overcompensate diseases that are hurtful to mankind . Finding that wonder drug that go forth treat diseases such as plundercer permanently is the tr lay off at present with regards to developing impertinent technologies . The academes all over the world are also getting into the technological bandwagon . Universities and colleges are immersing themselves into developing technologies that would provide to the needs of their own or even those externally to their school . New technologies are also being developed to overlay the needs of our everyday life . Gadgets are being invented to shake communication wherever you are in the world . transfer modes are becoming faster and more efficient with the reckoner aided softwares and programs and a lot more . Truly parvenuefound technologies contract a threshold into the new generationThe air area is homogeneouswise affected by this technological revolution that we oblige . As a business entity moving one bill ahead of their rivals within the industry is a big grammatical constituent for them . It would help them to corroborate a better strategic broadcast and would help them direct their fellowship into wherever they want the play a gigantic to beAs a business , they bleed to be slow to new ad on the buttonments in their environment especially when they are one of the crystalise players in the industry . Their goal is to change as wee so as possible to avoid happening their competitive parade over their competitorsThis is because conservative companies bleed to be risk loath(predicate) . This is to say that they get out barely take the risks necessary if they perceive that it provide give them a rightful compensation for the risk that they took . Otherwise , they would not risk at all into go into something that would assign the phoner in danger . This is to say that they are moving and deciding with calculated risks . This is also the case when companies are faced with technological changes . Most of the conservative and major companies tend to be reluctant into accept these changes . Unless thither is a evidential need to adapt these new technologies , their outlook on these are negative . According to the article Avoiding the land mines of appear technologies by twenty-four hour period and Schoe fixater (2000 , For start-ups , emergent technologies (e .g , interactivity and electronic commerce , digital imaging , micro-machines , or super conductivity ) are seen as exciting opportunities and for populate in vivacious organizations emerging technologies are often traumatic This is because start-up companies befuddle a lesser risk to take than the existing companies have For one thing , if they applied these emerging technologies and plump thither isn t much to lose because they are honest start to invest in a particular line of business . As compared to the existing firms , if they make a wrong get on which applied science to adapt , this could mean the end for the political party . This is why day and Schoemaker have cited that these new technologies often be be distressing to existing firms . In the case of big and multinational companies , the fact that a lot of people is resting on blossom commission to make the decision that would increase the benefit of the shareholders and stakeholders of the set is in itself a big headache for them . Which of theseemerging technologies will verify that the comp both will have lettuces at the end of the day is something that the top management would ponder upon on . daytime and Schoemaker (2000 ) added in their article that , The inherent ambiguity of an emerging applied science , and the new grocerys it creates , coupled with the dominance of traditional thinking frameworks make established firms vulnerable to four related sequential pitfalls Day and Schoemaker (2000 ) has cited these four major constraints on an established firms` ability to turn emerging technologies which are delayed participation , sticking with the beaten(prenominal) , reluctance to fully commit and privation of persistenceIt has then come to every firm s attention to avoid these traps that could have a negative effect on the organization as unanimous . According to Upenn .edu , the perception of the market and the current resources available for the company should be a competitive advantage for them as irrelevant to the new entrants in the industry and yet these firms are the ones who have a bad record in managing and utilizing these new emerging technologiesAccording to Sharedtechnology .net , in a fast and modern trend in emerging technologies , the companies may give-up the ghost to notice an opportunity by watching and wait what is going to happen next . Upenn .edu has pass on expounded that when these firms are in situations where there is a high percentage point of uncertainty , it is a common mindset to see what will happen next . The problem is that these current companies are waiting too long that ahead they even know it , they have already fallen into the pitfalls of emerging technologies . According to Upenn .edu , there is a tendency that managers would not see the potentials of a new technology when it is analyzed with regards to the existing business that they haveMoreover , it has cited that first generation crossways like the digital cameras are most of the times second-rate as compared to the products which they substitute and therefore it would be simple for the top management to disregard these new technologies . What the companies need to do to handle this pitfall is to examine carefully and thoroughly how will their market change as these technologies develop . The managers of the existing organizations need to keep in mind in that they must evaluate the technology s abilities as opposed to how the market perceives it at that instant . This is because if the other companies would take for granted these technologies and the market would embrace it , the delayed participation of organization had live them to lose their hold on their current market and the possibilities of attracting new onesAnother pitfall is sticking with the familiar . According to Sharedtechnology .net , it happens when it is the market which forces the company to change by not patronizing their old product . The market is state to have a stronger power over the company that they are able to make the firm track down to another vicinity where the firm fails to have the capability to get back with regards to their positioning strategy Sticking with the familiar is usually brought by the tendency of most people to avoid uncertainty . The companies tend to have a low growth market for locomote for this pitfallReluctance to fully commit is the third pitfall of emerging technologies . This happens when the emerging technology would render the current and lucrative products appear excess and may lead to a decrease in the profit margins of the company . According to Upenn .edu the majority of these existing organizations had made advance efforts tocommit themselves only when was not sustained in the long trifle . This is weak compared to their start-up rivals who have risked their wealth on succeeding and are committed up to the very end . With this pitfall Sharedtechnology .

net has cited that companies can opt to remain in both markets outwardly but tacitly stay with the money-makerThe fourth and last pitfall is lack of persistence . According to Sharedtechnology .net , lack of persistence is a pitfall experienced by companies when new technologies take time before they are adopted and managers seeking short-term results may mother fucker the new technology before it is able to reach evolution in the market Most large corporations loose their exertion with regards to the new technologies ability to produce good results for the company . Pressured by quarterly reports they tend to abort adopting the new technology after(prenominal) having started to take on it . They would only continue their endeavor erstwhile the viability of this new technology has been proven by an outsider which is very too late to take control of leadership with regards to that new technologyDay and Schoemaker (2000 ) had suggested several strategies to cope up with these pitfalls . They are attending to signals from the outskirt building a learning capacity , maintaining flexibility , and organisational separation . They suggest that these signals from the periphery could be needed trace for them to adopt the emerging technology . Having that capacity to learn these would be of great advantage for the company . It was also suggested that maintaining flexibility is significant to avoiding these traps . Here , it said that there should be a dimension between available options and commitment . Finally they suggest that there be organizational separation wherein they must take the new technology outside of the primary organization and put it into a separate division or unit The market of any company is often reluctant in accepting the new offerings of the firm . They tend to see if there will be a positive feedback with regards to the acceptability of the offering . At the edges of this market , an interesting thing is happening . There is a supposition that here , the individuals are less reluctant in accepting the offering . What the firm can do is have a test run of accepting the new technology . If there will be a positive effect when they employ the new technology to this segment of the market , then they can launch it on the whole market . If the results are other than , then they can abort it immediately . With this , they would not be able to be left behind by those start-up companies who easy adopt any new technology as long as they perceive it to boost their market share . They would not fall for the pitfalls of emerging technologiesIt can t be said that they are already guilty of bad management if these established firms fail to exploit emerging technologies . For one thing , they are just making sure that they are not making decisions that would put the entire welfare of the company in jeopardy . They would only want what is best for the company . That s why they are reluctant to adopt just any new technology that is said to bring benefits for the firm . What they do is that they must know whether these technologies would very bring benefit or otherwise . They are just making sure that they move with calculated risks so that they will be sure that if ever they adopt these emerging technologies , it will be for the greater good of the companyReferencesA Different Game : Wharton sustain Explores Managing Emerging Technologies (2000Retrieved November 2 , 2007 fromHYPERLINK hypertext transfer protocol /knowledge .wharton .upenn .edu /article .cfm ?articleid 193 hypertext transfer protocol /knowledge .wharton .upenn .edu /article .cfm ?articleid 193Day , G . S Schoemaker ,. J . H (2000 . Avoiding the pitfalls of emerging technologiesCalifornia Management Review , 42 , 8-33 . Retrieved November 2 , 2007 fromHYPERLINK http /www .implementer .com /articles /articlesdocs /e .business .doc http /www .implementer .com /articles /articlesdocs /e .business .docManagement and technology (2003 . Retrieved November 2 , 2007 fromHYPERLINK http /www .sharedtechnology .net .au /Management_and_Technology .pdf http /www .sharedtechnology .net .au /Management_and_Technology .pdfPAGEPAGE 1 Pitfalls of Emerging Technologies...If you want to get a full essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper