Technology impact on the organization Research Paper

Technology impact on the organization - Research Paper Example Factors of production include the inputs required in the production process in order to accomplish an organization’s objective in achieving its desired output. The desired output may be a finished product or a service depending on the organization. They include labor, capital, land and enterprise or entrepreneurship (Lee & Edgar, 2002). This makes technological progress the mover of development in the economy. Labor in an organization is termed as either skilled labor or unskilled labor. Most organizations will prefer the use of unskilled labor as much as possible since it is cheaper as compared to skilled labor. It is also in many instances readily available. On the other hand, skilled labor is needed, especially where technology brings in the aspect of automation in processing. Capital is the initial amount of money required to carry out organization affairs. Depending on the investment targeted, an organization requires variant amount of capital. An organization with an automated computer controlled process cannot have the same amount of investment with another of the same kind. Initial cost of high technology is high, but this ends up becoming economical due to efficiency and high productivity in processing. This is a basic factor that deals with the management of a company. Workers in the managerial positions and are conversant with high grade technology know how to bring out better results. This brings in the aspect of â€Å"Just in Time† delivery of goods and services. One of the roles of technology includes increased productivity of the workers. This is enhanced by the use of efficient machines in operations, thus making it possible to exploit the worker’s potential. There is optimal resources utilization; this includes space, time, process, human resource among others. When there is no waste in a process, optimal profits are obtained, and making profits is the main goal of any business organization (Montano