• How are the newest technologies changing the management domain for the better?

    Innovation in technology has been one of the most consistent changes in our society since the dawn of time. The development of various forms of tools and technology has not only sped up the workforce but also substituted the use of raw manpower. The present century has seen the birth of new age technology that consistently aims at achieving one purpose: reducing physical labor and speeding up the work done. Such changes are vital to the development of any organization as work done in lesser time equate to less expenditure, lower running costs, and more output in terms of profit.

    Management and Technology

    Technology in the 21st century is unavoidable. Most of the physical work has been limited to either recreational purpose or traveling to and fro in the work life. But even that is in the midst of a colossal change due to the development of interconnected technology which monitors the progress and orders the work based on the hierarchy of importance. Therefore it is vital for managers to learn the practical skills of technology management.

    Work in today’s sphere due to the aid of superfast and efficient technology is continually testing new boundaries and enlarging the existing ones. Automation in the industrial sphere has become widespread, and therefore it requires proper management by professionals and trained managers. To manage such complex software and machinery, basic knowledge and operational skills at the very least are required by a manager so as to successfully and efficiently carry outthe management of resources.

    Changes in management due to technology

    In today’s world, management plays a vital role in organizing and systematically organizing the process of production to make the optimum use of resources. Therefore it is of crucial importance that the management makes optimum use of the technology available at hand. There have been a lot of revolutionary changes in the sphere of management that have been introduced due to the induction of advanced technology in the system. Coping with such rapidly developing transformation can prove to be a challenge for many but at the same time, learning to use it properly has many added advantages. A few of the changes caused due to rapidly evolving technology are as follows:

    • Efficiency in production: Due to the advances in automation in the industry and use of technology in the form of software, the productivity has increased almost by ten folds over the past decade. Such accelerated growth needs to be managed appropriately for optimizing profit. Therefore, the skills of the manager become vital in the management of production and avoid potential wastage.
    • Improved cost management: Any organization’s primary motive is to optimize expenses and maximizethe profits. Therefore technology becomes vital in managing a profitable process in the production, distribution, and sales. With the help of analytical software, the management and optimization of cost have become easier, which further intensifies the need for the managers to be adept in the know-how of operating such a technology.
    • Improved communication: Any organization’s ability to mass produce effectively is based on the proper collaboration of all the departments which results in the production of optimized goods and services. Communication, therefore, is the lifeblood that runs through the veins of any organization. Not having a proper system of communication can not only impede production but can also invite massive losses. Technology plays the most vital role in maintaining proper communication among the departments. With the help of cloud-based technology and software-aided tracking of progress, management becomes easier through improved collaboration.
    • Division of labor:With an increase in the overall use of technology, the production speeds up considerably which results in the expansion of the company exponentially. This results in the breaking down of individual processes of production and lining them up to create a complete product produced and assembled via a chain of departments, each specializing in a particular aspect of the product. Therefore in such a case, technology becomes essential to manage the chain of departments ensuring proper coordination throughout the entire process.

    Management, being the most crucial aspect of any industry, is engaged actively in channeling the collective efforts of the employees in a goal-oriented direction. Management professionals playa vital role in organizing efforts to generate profits by achieving targets set by the company. Therefore, the manager has to be aware of the current generation of technology and be able to use it to his/her advantage. But to be adept with the new generation technology,it is important that management professionals hold a specific set of skills and knowledge and have got proper training and education.

    This is where we, at the Indore Institute of Management, one of the best management colleges in MP, come into the picture in providing the management aspirants with an all-inclusive kind of management education that touches upon each and every aspect that is crucial for them to attain success in the professional world. Our industry-based curriculum has been specifically designed to encompass the latest trends that deal with the inner mechanisms and processes involved in managing a business. The facilities we provide our students with are topnotch and the entire team of our faculty membersis equally experienced in the field. With the help of seminars, project works, internship, and other practical training, we strive to provide our students with the best of education as well as the much-needed industry exposure that helps them to unveil their full potential.

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