Impact on Demand and Supply Chain
The emerging themes that are implemented in the daily life process are improving themselves each and every day. The use of technology is a common factor in today’s world. The technology advancement is helping everyone to maintain a sustainable and framed lifestyle. The advancement had once destroyed the natural resources to create products that benefitted human life. The excessive use of such resources have made a scarcity in the earth, thus now it is high time to create an awareness among everyone to use the resources in a well framed manner. The generation has considered that point and is taking initiatives to make a change in the demand supply chain with the help of technology to protect the natural resources. Instead they are planning for resources that will help to use renewable resources with technological advancement to create a better environment. The use of technology is making life easier and better than previous times. Technology is helping us to manage big data; they have the potentiality to restructure the chain, use exact and real time information and have a strong idea about the demands in the market(Harding et al 2015). The use of cloud computing has helped to access data and improve efficiency in a higher scale as they provide data on orders, supply chain issues and delivery issues. They have helped to manage risk in short span of time and maintain the resources in a desired form. The demand for product is becoming higher in the market along with which the customer’s expectancy is also increasing. The technology advancement is helping the producers to meet the need accurately. The technology is helping all the companies to develop themselves and meet the globes demand and also creating better place to survive(Hashem 2016). The study will discuss about this emerging trend and its impact in the society from different aspects. It will also include the impact of such advancement in broad sectors. The end portion of the case study will include recommendations the company must take to ensure a proper working of such changes.
The technology is reshaping the demand and supply chain in various aspects and is its affect is reflected in the society in various ways as such:
Political environment:
The environment and political aspect on area is automatically effected when there is a change in the demand and supply change in the area. The need for global growth and sustainability is necessary in every field. The laws and rules that enhance the use of natural resources and technology that helps to do so. The country or states that support more such laws and rules are prospering more in comparison to the others. The use of resource products are bringing down the price of renewable energies with significant energy effect for the customers and suppliers. The efficiency of extraction techniques are increasing and sophisticated data analysis is done to identify and manage data. The people in the society and culture get an extra benefit of pollution less environment that supports greenery in nature. Thus, the use of such sustainable laws and steps helps the society and its development. The innovation and introduction of such technologies are making the life of the people easier. They are able to create a better life style and work life. The economic condition of the country or area rises high with a production of sustainable products that helps to create a healthier life style for everyone.
Impact on Environment and Politics
Technology advancement:
The technology advancement has highly affected the utilization of renewable resources and saving the non-renewable resources to be depleted. The use of technology and its development has helped the people to create a better life for all. The need for a better environment is very important in society(Lisanti, Luhukay and Mariani 2017). This need has been fulfilled by the technology that has given the chance to create such an environment. The technology advancement plays the most vital role here, as the technology has created a better scope for creating a higher demand for efficient usage of resources in nature. The needs for natural resources were present since the early days however, the technology advancement has helped to implement the need in the correct place(Lemon and Verhoef 2016). The need for an advance technology is very important to create such conditions that will support sustainable development and prevent excessive use of non-renewable resources. Thus, the technology has to be advance to fulfil the need for meeting such goals in the society.
Demographic changes:
The demography of the area where the technology has created a new bridge between the non-renewable and renewable sources ahs to be high and better. The society knows well how important the resources are and how to protect them from being depleted or destroyed. Thus, the society has to be aware of the fact that how important the resources are and how important it is for them to protect the resources for future. The growth in such areas will be definitely high and better in comparison to other places(Hill and Alexander 2017). The human population can be moderate but the life style will be healthier in such areas. The technology will not only safe the society but will also improve the living condition of each entity in that area. The reduction in pollution and sustainable use of resources will enhance the environmental condition and help the society to create an eco friendly environment that will support human life. The use of technology is not only making human life easier and faster but also healthier and happier. Thus technology plays a vital role to shape the human life in that particular area. The rate of death or disease is decreased, people tend to migrate to such eco friendly areas and help themselves to maintain a better life by sustainability.
Social trends and shift:
The social trend that supports the use of non-renewable sources has to be emitted from society. Instead of that they can use alternate resources can be used to replace those trends. It should be the common sense of every individual to make sure to create an environment that supports a well maintenance of ecology. However, if any trends that are affecting the society they must be changes immediately and if possible replaced with other alternate resources. The use of alternate resources can include the use of renewable resources that will help to save the resources and reduce the risk in nature. Few trends typically hamper the society and can be a serious threat to the society in the near future(Hill and Brierley 2017). The trends and culture that are imposing serious threats to the society should be immediately removed from the society. A better replacement must be adopted for such case so that the environment remains unhampered and no damage shall be caused to the environment. The society has to shift their choice and cultural believes to a better section where they can meet their need and at the same time they can try new trends that will be matching their need and also beneficial to the society.
Impact on Society and Culture
Industry globalization:
The industry globalization plays a vital role in such situation. The globalization and modernization requires a lot of effort and modulations in the company ethics. At times even if the company is interested to make some changes or protect the environment, they are unable to do so. The only reason for an issue is the companies are highly professional and they tend to incur profit from their business instead of serving the society. However, they are unable to understand the need for a sustainable use of resources to protect them from getting depleted in the near future(Epifanova et al 2015). The need for globalization is a common aspiration for every company but a proper management in the use of resources is must in every case. The companies are also coming up with new technologies that is making their work easier to introduce technology that is supporting the ecology and is against the damage to nature. The market demand for eco friendly products have risen and at the same time the demand for products that causes damage to the nature has also decreased. Thus, there is balance formed in the nature that supports the introduction of eco friendly product and lifestyle of every individual. The company or industries have to make sure that they are abiding by such rules to maintain the sustainability in nature.
Legal transformation:
The legal section plays a vital role to motivate, pressurise and demand for an eco friendly environment in nature. The countries law will determine how strong the rules are and how efficiently the people will consider it. The need for a sustainable environment culture is required everywhere but the people are unable to understand the need in many cases. Thus for such cases the legal section has to be strong enough to maintain the rules(Naidu and Chand 2013). The legal section has to make sure that the country men are abiding by the laws and are maintaining them equally. Strict rules and punishments should be introduced for the people who are not abiding by such laws. The legal section has to be more conscious about the well management and maintenance of the laws. The legal transformation is mandatory for the state or country to understand the need for a change. The countries with a strict legal transformation are already facing a high rise in their development system and the vice versa.
Industry Globalization and Technology
Global economic issues:
The technology advancement places a vital role in global economy. The technology advancement determines the advancing capacity of the place and thus identifies the place as a developed or underdeveloped area. The economy of a region is thus dependant on the development of a place. Technology has to be more advance to compete with the rising nations and create a better scope for them. The technology determines how well they country can manage their resources and meet the demand in the market(Rohlfer and Zhang 2016). The higher the technology is the better scope the country gets to develop in a sustainable manner. The technology determining the economical factor by such scopes and thus creating opportunities for industry to profit in the market. there are companies that has to face loss at the initial stage while changing the resources patterns and raw materials , but they can be assured to face a huge rise in economy in the future as the alternate sources will be more efficient and helpful to them in their work process(Shkurkin et al 2016).
The strategies support sustainable use of resources along with a judicial concern that how and where the resources are being used and reused. The resources that are used by such organizations are renewable and can be altered with other renewable sources. Thus, the technology is reshaping the demand and supply graph in nature and enhances the chances of saving the resources in future. Such technology promises a better future for broad sectors and organizations. They are creating a higher scope for sustainability and assures a sure chances to maintain the resources in future(Edel 2017). The broad sectors that are creating more demand for energy efficient products that will not only save non renewable energies but also will assure a quality product to the customers(Singh and Prasad 2015). Thus this technical advantage will help the organizations to create a better scope for themselves in future.
Demand side:
The business organizations are creating a demand for less efficient products as people are using less energy in their life. They are preferring products that do not require energy and instead that saves energy. The companies are targeting for the long run where they can save more energy for future use. The companies are using advances technology that is helping them to bring down the prices like solar energy, wind energy and handle them efficiently(Wong and Dioko 2013). The businesses are using new strategies to rise their condition and create a higher standard by using technologies. the technologies are helping them to access resources that were impossible to reach earlier. The resources are raising the efficiency of the companies. It is expected that in later future these companies will create a better opportunity to build a better future for themselves that will be ahead technically and economically in every aspect.
Legal Transformation and Eco-Friendly Laws
Scope:
The companies have higher scope for rising further in future days as these technologies will make higher scope for reaching a more advanced stage that will enhance the business system and create higher scope for the businesses to expand.
Supply side:
The supply for energy saving and efficient products has increased in the market. The consumers are also expecting better and advanced products that will meet their requirement and at the same time will be efficient(Wu et al 2016).
Better sustainability:
The chances for sustainable management is high for such technology, they tend to create better scope in future thus improving the condition of the organizations. The economical. Management and technical, condition of the companies rise high due to such advance technologies in nature. The products that are formed by the organizations are much more effective and efficient in nature.
Work progress:
The work progress is automatically uplifted and improved with the introduction of such innovative technology and trends. The introduction of such technology has helped to create a better access to the sources that were impossible to reach earlier. The reason for such growth is the technology is implementing the new strategies for further development and growth. The reason for their success is their efficiency and progress in business that has helped them to give better production in the time period. The advance technology has also made the work of the workers easier and comfortable(Zaitseva et al 2016). Thus, they are enjoying their work life and are also producing products that are readily accepted in society.
Efficiency:
The work efficiency of the organization is raised as the technologies are highly advance and innovative that supports the introduction of new strategies and strength in the work culture. The efficiency is improved as the latest machineries and technologies that support the sustainability of the environment are used. These products are readily accepted in nature and the demand for such sustainable product is always high in the market. the product and production efficiency is always high in such cases.
Higher profit scale:
The market demand for sustainable product is high, thus the companies rasiing such production will face a high scale profit in the market. the primary reason for such demand is the society is also concerned about the development and maintenance of the society and its resources. Thus, the production of sustainable products by using renewable resources is highly appreciated in the market. The production for such products has also increased in the past years. Thus, the companies have higher scope in future to build a better profit and income. The future for these industries are high and the scope for development s strong for such industries.
Technology as a Tool for Global Economy
The broader sections are aspiring for higher scopes that will help them to build new strengths in the market and create a better place to prosper(Devins and Jones 2016). The emerging trends that enhance sustainability and development are assuring a better change in the environment to all the sectors. The broad sectors can take few initiatives to implement the changes in their work pattern such as:
Mobility solution: the business can be handled from s distance by web connections that will help the heads to make better use of the technology. The latest technology helps the company to keep a regular watch on their day-to-day work life thus enhancing the business goal and targets. The betterment of business is followed in every scale and the management is also empowered by the mobility solution, they can conduct the message, data, and information from one place to another very easily.
Cloud computing: this will help the business to reach the customers and third party through internet in a short span of time. this allows variable data and enhances rapid expansion without the fear of downtime. This allows small business access to find what they want and would be cost prohibitive(Alonso et al 2013).
Customer section: the understanding of the customers is made easier with the help of internet. The companies can understand the present demand of the customer and make required changes as per the need. The companies can save a lot of money by this ay as they can understand the need for change of their products in the market by a mere survey in market(Berg and Kilambi 2014).
Connectivity: the introduction of new technology has helped to create a better understanding in the market. At the same time, they have created a strong connection between the companies, customers and workers in the market. The use of internet has helped to create a better understanding among the market business production. There is less scope for producing unnecessary products in the market. This way the companies can save a lot of money from getting misused(Dresch, Lacerda and Antunes Jr 2014).
Decrease cost: the cost for producing unnecessary products is saved as the internet helps the companies to get the exact idea about the market demand and requirement. The market is creating a better scope for the customers to use eco friendly products and sustainable products. The extra cost is cut down and the money is invested in the correct purpose thus saving the company from spending unnecessary money.
Strategies for Sustainable Development and Resource Management
Increase functionality: The hardware and software has become increasing easy to use and afford. The businesses are using these resources for equipping the business with proper management system and better scopes. The latest technology is increasing the functionality of the organizations, producing efficient and required products in a short span of time. the products will be produced at a reduced cost and high efficiency.
Social impact: the rise of social media and technology will help the business to create a better scope for reaching the market and the consumers. Instead of spending a huge amount fro advertisement and marketing the business can utilize this resource to reach the market and create a better place for business.
Conclusion:
Thus to conclude it can be said that a business needs to have all the required technology to meet the global demand in today’s world. The need for technology is craved in every sectors. The market is seeking for new and latest technology that will bring the best for the organization. The companies are aspiring to rise high but also at the same time, they aspire to create a better ecology in the environment. The companies must maintain the strategy forever. The need for a better earth plays a vital role in today’s world. The latest technology is helping the companies to build a better scope for tem in the market. Hence, if the broad sectors are utilizing the resources in the recommended manner then they will surely reach a height in future
References:
Alonso, J., Orue-Echevarria, L., Escalante, M., Gorroñogoitia, J. and Presenza, D., 2013, September. Cloud modernization assessment framework: Analyzing the impact of a potential migration to Cloud. In Maintenance and Evolution of Service-Oriented and Cloud-Based Systems (MESOCA), 2013 IEEE 7th International Symposium on the (pp. 64-73). IEEE.
Berg, E. and Kilambi, K., Siebel Systems Inc, 2014. Method and apparatus to facilitate development of a customer-specific business process model. U.S. Patent 8,639,542.
Devins, D. and Jones, B.T., 2016. Towards a framework for higher education curriculum for small family business.
Dresch, A., Lacerda, D.P. and Antunes Jr, J.A.V., 2014. Design science research: a method for science and technology advancement. Springer.
Edel, A., 2017. The theory of business enterprise. Routledge.
Epifanova, T., Romanenko, N., Mosienko, T., Skvortsova, T. and Kupchinskiy, A., 2015. Modernization of institutional environment of entrepreneurship in Russia for development of innovation initiative in small business structures. European Research Studies, 18(3), p.137.
Greenfield, C.H., Nagel, J., Ouinn, R., Stabile, F.B. and Wieczerzak, J., Representatives from the Departments of Biology, Engineering Technology, English, Health and Physical Education, Library, Mathematics, Music and Arts, Physics, Social Sciences, and Special Educational Services.
Harding, L.K., Demers, R.T., Hoenk, M., Peddada, P., Nemati, B., Cherng, M., Michaels, D., Loc, A., Bush, N., Hall, D. and Murray, N., 2015, September. Electron multiplication CCD detector technology advancement for the WFIRST-AFTA coronagraph. In Techniques and Instrumentation for Detection of Exoplanets VII (Vol. 9605, p. 96050F). International Society for Optics and Photonics.
Hashem, T.N., 2016, September. THE INFLUENCE OF CAUSE RELATED MARKETING (CRM) ON THE BRAND IMAGE AMONG CONSUMERS IN JORDAN. In 9th Annual Conference of the EuroMed Academy of Business.
Hill, N. and Alexander, J., 2017. The handbook of customer satisfaction and loyalty measurement. Routledge.
Hill, N. and Brierley, J., 2017. How to measure customer satisfaction. Routledge.
Lemon, K.N. and Verhoef, P.C., 2016. Understanding customer experience throughout the customer journey. Journal of Marketing, 80(6), pp.69-96.
Lisanti, Y., Luhukay, D. and Mariani, V., 2017, November. IT service and risk management implementation for online startup SME: Case study: Online startup SME in Jakarta. In Information Management and Technology (ICIMTech), 2017 International Conference on (pp. 300-303). IEEE.
Naidu, S. and Chand, A., 2013. Does central government health expenditure and medical technology advancement determine economic growth rates in the Pacific island countries?. Asia-Pacific Journal of Business Administration, 5(3), pp.234-245.
Rohlfer, S. and Zhang, Y., 2016. Culture studies in international business: paradigmatic shifts. European Business Review, 28(1), pp.39-62.
Shkurkin, D.V., Sogacheva, O.V., Logvencheva, E.S. and Khramova, M.N., 2016. Modernization of the Sphere of Tourist and Hospitality Industry of the South of Russia as a Growth Factor of Socio-economic Stability of the Region. International Journal of Economics and Financial Issues, 6(1S).
Singh, A. and Prasad, S.M., 2015. Remediation of heavy metal contaminated ecosystem: an overview on technology advancement. International Journal of Environmental Science and Technology, 12(1), pp.353-366.
Wong, I.A. and Dioko, L.D.A., 2013. Understanding the mediated moderating role of customer expectations in the customer satisfaction model: The case of casinos. Tourism Management, 36, pp.188-199.
Wu, C.H., Liu, I.J., Lu, R.M. and Wu, H.C., 2016. Advancement and applications of peptide phage display technology in biomedical science. Journal of biomedical science, 23(1), p.8.
Zaitseva, N.A., Larionova, A.A., Yumatov, K.V., Korsunova, N.M. and Dmitrieva, N.V., 2016. Assessment of the Impact of Globalization on the Introduction of Innovative Technology Companies in the Hospitality Industry. International Journal of Environmental and Science Education, 11(14), pp.7176-7185.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
