which of the following is an advantage of technology leadership

A firm’s ability to maintain an advantage in market value depends on whether investors perceive that the rate of cash flow growth will be sustained. This works under the premise that the leader should work with his or her followers or subordinates to achieve common goals and changes. At the medical level, technology can help treat more sick people and consequently save many lives and combat very harmful viruses and bacteria. Taylor Browne worked as a technician at the Mineral Mining Company. A firm that competes on cost leadership can be vulnerable if there is a decrease in the cost of the inputs on which the advantage is based. Many leaders following this style will find ways where money can be saved from the current budget. IntroductionInformation and communication technology (ICT) has a major impact on businesses and society, however, the adoption of ICT has not been well incorporated into leadership theory (Van Wart et al., 2017). How has technology changed your life in the last 5, 10, or 20 years? One of the most popular methods to use is the group decision-making method. Today’s technology leaders need skills in all three areas. Disadvantages of Technology in Nursing. “What Supply Chain Needs to Know This Respiratory Season” podcast series, Lab Testing Post-COVID with Cardinal Health, Healthcare Supplychain Radio: Managing Inventory Post-COVID, Healthcare Supply Chain Radio: Best Practices for Hospitals and Supply Chain Resuming Surgeries, on "Leadership: The Benefits of Technology". For this purpose two important things should be considered. This question hasn't been answered yet Ask an expert . Which of the following are components of a cost-leadership strategy? Question: Which Of The Following Is Viewed As A Competitive Advantage By Business Leaders To Promote A More Diverse Workforce? The U.S. economy grew 2.3% last year, but technology is expensive, and examples abound of companies that went bankrupt because they invested in the wrong technology -- … (T/F)) Innovation is described as a change in technology, a departure from previous ways of doing things. (T/F)Emerging technologies are those that have proven effective, but they also provide a strategic advantage because not everyone uses them. It will not be possible for small companies to achieve cost leadership with economies of scale. False If a company focuses on only a small number of value-chain activities, it can be lead to a pitfall of the overall cost leadership strategy. It makes a firm following this strategy well positioned to withstand price competition from rivals. Higher profit margins B. A low-cost leader can translate its low-cost advantage over its rivals into superior profit performance by. , In the long run, a business with one or more competitive advantages is probably destined to earn normal profits.D. The advantages and disadvantages of a democratic leadership style show how important it is to embrace the diversity which exists within every team and workplace. (T/F)If a new technology is theoretically possible, but has no economic practicality, the technology will probably not emerge. They should know that ______ technologies provide little competitive advantage. What makes innovators and technology leadership attractive is the potential for high profits and first-mover advantages. Better Transparency Transparency is one of the big issues in the current industry. (T/F)Scanning focuses on what can be done and what is being developed. Emotional Intelligence Is a Competitive Advantage. Speed up the entry into a new market: #2. A democratic leader is one who invites participation from others in the organisation as part of the decision-making process. The organization can use the advantage to reap greater profits than competitors or attract more customers by charging lower prices. All other firms are utilizing the system and have found it to be reliable. A unique geographic location 4. Main menu. Leadership is the art of motivating a group of people to act toward achieving a common goal. In a TDMA system, the needed selectivity is obtained in time rather than frequency. Primary tabs. 1. To understand technology, one must know what it provides in terms of advantages, but also disadvantages. Which of these are still under development and thus are unproved? As president of Advantage Digital Technology, Chris Butler sets the strategy for the division, which drives value for clients through operational optimization, online expansion and retail execution. Which of the following is viewed as a competitive advantage by business leaders to promote a … The strategic group in an industry should be identified which follows the similar set of strategies. Technologies that are commonplace in an industry are measured as: Which of these is the process of comparing an organization's practices and technologies with those of other companies? Little or no competition C. Greater efficiency D. Higher costs E. … So let us check it out some information … It will help you learn about the upcoming changes if your business is currently getting blockchain or plan to implement blockchain in the future. In the past few weeks we have touched on a few of the negative aspects of technology. Platform Technology + Professional Services Customer wants and needs change fast. It’s important to note that the profit disadvantage kicked in only over the long run. Learn new skills and technology: #4. ____________ helps to clarify the key technologies upon which the organization depends. (T/F)An innovation will spread quickly if it has less, rather than greater, complexity. With the help of technology, our healthcare system has flourished. Technology that is commonplace in the industry in which everyone must be able to operate is: The process of comparing the organization's practices and technologies to that of the industry's standards is known as: _______ have yet to prove their full value, but have the potential to alter the rules of competition by providing significant advantage. 56. But how do you define democratic leadership? , deriving benefits from highly focused and high technology marketsD. A focused organizational effort to create a new product or process via technological advances is called: When adoption of a new technology requires the redesign of jobs and the redesign optimizes the social and technical efficiency of work, the design is referred to as a(n) ________ approach. Acceptable Value 2. Your competitors are innovating, too. Get exactly what you need and eliminate the rest. Advantages of technology Globalization, new technologies, and greater transparency have combined to upend the business environment and give many CEOs a deep sense of unease. (T/F)Late majority group represent about 13.5% of the adopters of new technology. Top Tools can establish product differentiation by: Which of the following is a factor in management's decisions on when to adopt a new technology? The three primary sources of a first-mover advantage are technology leadership, control of resources, and buyer switching costs. Only you know what will work best for you and your organization. That consistency leads toward corporate success. Your target market is your employer. Price leadership occurs when a preeminent company determines the price of goods or services within its market and other firms in the sector follow suit. Access to natural resources that are restricted to competitors 2. Autocratic leadership is very similar to the authoritarian leadership style. The firm that prepares Joe's annual tax returns was one of the first to utilize the IRS system which enabled the returns to be transmitted to the IRS electronically rather than through the mail. I rely on technology for much of what I do and realize how essential this technology is personally and professionally. Fleet Advantage has been awarded the Technology Leadership Award for Fleet TCO Optimization Solutions in North America from industry research and consulting firm, Frost & Sullivan. A. , automated and flexible manufacturing systemsB. Studies have also found that women, on average, have a slight edge over men when it comes to EQ. When a company establishes technology leadership by pioneering unique products or services that command premium prices, it has benefited from a: What makes technology leadership attractive for some companies is the potential for: An advantage of technology leadership would include all but one of the following. A. I was told about the benefits of Evernote for months! Your email address will not be published. Porter's generic strategies describe how a company pursues competitive advantage across its chosen market scope. , With an overall cost leadership strategy, firms need not be concerned with parity on differentiation.B. Which one is not included? B) It helps in acclimatizing to the company and accepting its vision and values. It can help companies increase productivity, cut costs, offer new products and services and deploy new business models. The company that has provided the funding for this project hopes to sell the hybrid in the former Soviet Union. As technology improves, the competition may be able to leapfrog the production capabilities, thus eliminating the competitive advantage. Since 1980 the volatility of business operating margins, largely static since the 1950s, has more than doubled, as has the size of the gap between winners (companies with high operating margins) and losers (those with low ones). The "learning advantage" of being a technology leader refers to A. the ability to produce less expensive products due to familiarity and experience with the processes involved. Innovation. All of the following are risks associated with being a technological leader EXCEPT: Technology leadership imposes high costs and risks that followers are not required to bear. Other leaders in operational excellence include Wal-Mart, American Airlines, and Federal Express. The process of clarifying the key technologies upon which an organization depends is called a(n): Technologies still under development that significantly alter the rules of competition in the more distant future would include all but one of the following. (T/F)Early adopters of a new technology are considered headstrong or extreme. A. Q1. This is an example of e-commerce. While technology has a few negative implications on our work-life balance, it also enables us to work more effectively and efficiently when utilized well. Technological innovations can support either of these strategies by providing (i) cost advantage through low-cost product designs and creating low-cost processes or methods to perform the needed operations or (ii) Differentiation by unique products or services which increase buyer value and thus command premium prices. It enables a vision to be quickly formulated. Advantages of technology. Following are a few of the cost leadership strategies: 1. The Burn-In Team - ... and some of its advantages and disadvantages. Seniority rewards in a traditional factory and skill-based pay rewards in integrated manufacturing are examples of _____ contingent compensation. Less Energy More Environmentally Friendly More Durable Paving Session Can Be Extended None Of The Above Which Of The Following Is An Advantage Of Basalt Rebar As An Alternative To Steel For Reinforcing Concrete? The executive in charge of technology strategy and development is the: The person who develops a new technology or has the key skills to install and operate the technology is a(n): The person who promotes a new technology throughout the organization in an effort to obtain acceptance and support for it is a(n): An executive who supports a new technology and protects the product champion of the innovation is a(n): Organizing for innovation is most effective in organizations that. While technology has a few negative implications on our work-life balance, it also enables us to work more effectively and efficiently when utilized well. Other firms were hesitant to use the new system until it had proven itself reliable and considered use of the system during the first year as somewhat extreme. The section supervisor, Dean Roger, thought that Taylor's device was so clever that the company should make it available for all technicians. How Individuals Use Competitive Advantage . The need for high sales volume requires low upfront investments in production and/or distribution capacity. Dean's role in developing the new device is that of: Taylor Browne worked as a technician at the Mineral Mining Company. They prefer “inclusive” leadership styles–bosses that appreciate them for their hard work (no brown-nosing needed). Question: Which Of The Following Is Not An Advantage Of Developing A Warm Mix Asphalt Technology? c. In markets that involve a lot of brand loyalty, cost leadership companies command the largest share in the market. They’re driven. Organization both big ones such as IBM, Microsoft, Whirlpool as well as SMEs are reaping the benefits of virtual teams for some time now. As the name suggests producing more products will reduce the per-unit cost. List of the Disadvantages of Cost Leadership Styles. The Leadership Guy @bizzwriter. Dean convinced a number of other managers to provide the resources needed to explore the possibilities for Taylor's device. Low inventory levels are maintained, the inventory turnover is high, the plant lead time is less, the buyers are low­cost and match their value chain with the customer, they enable time-definite deliveries with low variability and orders are generally standardized. An advantage of technology leadership would include all but one of the following. Which of these is (are) supported by technology leadership? Like all assets, intangible assets are those that are expected to generate economic returns for the company in the future. Leadership training can also help individual leaders develop their own personal leadership style that their team members will best respond to. The company seems to be attempting to acquire technology through: Eileen has developed and patented a new process for recycling plastic. (T/F)Companies who are seen as proactive "technology-push" innovators tend to have cultures that are more outward-looking and opportunistic. Technology has the ability to make our days more productive when utilized with discretion and proper prudence. Your benefit is how you increase the company's profit. Leadership training can assist in implementing the most appropriate leadership style for your organization and the work you do. The firm that prepares Emily's annual tax returns has finally agreed to utilize the IRS system which enables the returns to be transmitted to the IRS electronically rather than through the mail. The cost leadership strategy is realized by developing a highly efficient cost-responsive supply chain. If you are working in the industry, then you should know the advantages of blockchain technology, i.e., its benefits. The systematic application of technical knowledge to a new product, process or service is called: Changes that affect the methods of producing outputs are referred to as: Changes in the actual output of an organization are referred to as: The systematic application of scientific knowledge to a new product, process or service is called: ___________ is a change in technology; a departure from previous ways of doing things. Maintaining this edge gives our country significant economic clout and national security leverage. Leadership training is an important part of employee development that can improve engagement. Which of the following is a disadvantage of technology leadership? Innovative products and services: #6. Dean convinced a number of other managers to provide the resources needed to explore the possibilities for Taylor's device. Grow 3 Unique Advantages of Introverted Leaders (Backed Up by Science) Being the best talker doesn't always mean having the best ideas. Most students don’t like to go to school if they feel like they are wasting their time. These technologies have slowly taken an essential part in people’s day-to-day lives and being without them would be unimaginable for some of us. Which of the following describes a product champion? D) It helps a person improve in an area that is preventing him or her from becoming a leader. (T/F)The appropriate time for an organization to adopt technological innovations is when the costs and risks of switching to the technology are outweighed by the benefits. 11) Which of the following is NOT an advantage of technology? Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain: Which of the following is NOT one of the costs associated with being a technological leader? We live in an era of risk and instability. Technology leadership: This is called ________ leadership. (T/F)Development projects are focused on creating a new product or process. Which of these technologies are commonplace in the industry (everyone must have them to be able to operate)? (T/F)Being the first to develop or adopt a new technology always leads to immediate advantages and high profits. When two or more companies jointly pursue specific new technology development by bringing together diverse skills and/or resources: Which of the following would NOT be the responsibility of a chief technology officer? Pros of New Technology Improvement in Healthcare. His company needs to install a new software program, which he orders from his company's online supplier. In particular, there is a paucity of research on e-leadership in developing countries (Hüsing et al., 2015; Rogerson, 2000) and the factors that direct leadership 4. Whereas the firm's strategic position can be considered either differentiated or cost-focused, the scope of competition is considered _____ Narrow or Broad. The invention of the computer was a very important point. ________ firms' strategies are focused more on deepening their capacity base through complementary technologies that extend rather than replace their current ones, whereas a hybrid _______ firm tends to grab a dominant position from their strengths in marketing and manufacturing than through technological innovation. (T/F)Technology is embedded in every product, service and procedure used or produced. Competitive Advantage and Technology. Better Educated And Experienced Employees Lower Wages Improved Communication Skills Improved Writing Skills . Of course, with every good thing, there come some drawbacks. In order to experience the full benefits technology has to offer, you must find what is right for you and your organization. Getty Images. (T/F)Bureaucracy is the best friend of innovation. In this type of leadership, the rules and procedures that teams use are quite rigid. If you’re not listening to customers and making changes based on their feedback, there’s no way you can keep up. Which of the following multiple access techniques are used by second generation cellular systems? b. This doesn’t mean they don’t try to convert me to their best apps. In an effort to decrease the amount of waste produced in her section, Taylor had developed a device that she used in her work. Ivory International, a machine tool manufacturing company is very concerned about competitive advantage in their industry. Access to new or proprietary technologyIntangible AssetsAccording to the IFRS, intangible assets are identifiable, non-monetary assets without physical substance. Each member of my team has a various collection of apps and programs that make their days flow smoothly. It can cause financial cuts in critical areas that harm the business. With this, employees can utilise their training to invest their time in the company and grow. Leadership. (T/F)Technology trading is becoming increasingly common. If you are an employee, work as if you were in business for yourself. Taylor's role in developing the new device is that of: Which of the following describes an executive champion? Advantage Technology is a proud Microsoft Gold Partner.That means our team has made a significant commitment with Microsoft; completed rigorous, industry-recognized exams and certifications; and have a significant base of customers using Microsoft’s products. Question: What forms of technology make your workday more efficient? Technology leadership. As a long-term asset, this expectation extends beyond one year. A. Which of the following is NOT one of 3M's rules for an innovative corporate culture? Advantages of Leadership It shows Path to People The biggest advantage of leadership is that it shows the path to the people so that they can follow that path and achieve the objective. Increased Demand 2. Thought Leadership; Pros and cons of developing new technologies and their impact on the environment . The diseases that resulted in the loss of lives of millions of humans in the past are now … Tasks that can be done at a cost advantage are sourced outside. Over half of millennials deeply value the ability to progress in their career and are more attracted to careers where they know they have room to be given more responsibilities. , If several competitors pursue similar differentiation tactics, they may all be perceived as equals in the mind of the consumer.C. His firm should be classified as: Early adopters of new technologies tend to be: Why are the late majority adopters of a new product so late? Advantages of a strategic alliance #1. To gain competitive advantage, small businesses can focus on different strategies, including leadership in cost, quality, innovation or customer service. While every generation has its pluses and ... are usually very well versed in technology. Which of the following describes a technical innovator? In this lesson, you will learn the definition of technological change as well as its advantages, impacts, and several examples. Manufacturing avoids waste, error, and the use of unnecessary assets. The following are some of the disadvantages of technology in nursing: Set Up and Internet Access: An important disadvantage of technology in nursing is that some patients may not be savvy with technology. ______ have proven effective, but they also provide a strategic advantage because not everyone uses them. You can use the theory of competitive advantage to advance your career. The Internet of Things (IoT) is the next frontier in the digital revolution. Additionally, several firms following a focus strategy and targeting various narrow markets may be able to achieve an even lower cost within their segments and as a group gain significant market share. ABC can establish a low-cost position by: Top Tools observes what its competitors do and then decides what to do. Which of the following is NOT one of the major factors in technology decisions? A number of companies have expressed an interest in buying Eileen's company in order to gain access to the technology. In a time of unprecedented change, the key to success is learning how to keep pace on a global scale, to innovate, and to nurture and develop value-creating ideas across your organization C) It helps leaders overcome emotional problems hindering their leadership effectiveness. >See also: Tech Events Diary. 5. The goal of strategic technology management is to contribute to the value of the enterprise by helping assure that the cash flow on which this value depends will be sustained and will continue to grow. Competitive Advantage in Technology Intensive Industries 205. advantage on both levels, with higher perceived value created than Firm A, with, at the same time, lower costs to produce the good or service. Although many individuals find a lot of good things in transformational leadership, others also find some drawbacks to it. (T/F)Benchmarking is the process of comparing the organization's use of technology over time. Leadership. There are advantages and disadvantages to every advancement made, so it is impossible to deem technology a good or bad thing. Just look at the numbers. Companies use emerging technologies to achieve digital transformation in their operations. Don’t fall prey to the excess. Technology helps children to stay motivated during the learning process. Which group of adopters of a new technology is critical to the technology's success? In previous articles I have talked about how technology is changing the world, however as I made these articles several doubts arose in me about whether the technology is good or bad for the human being.While on the one hand it has proved very beneficial, it can also be harmful in the long run. The text discusses three approaches to combining overall cost leadership and differentiation competitive advantages. The benefits reach far beyond engagement – with a huge impact on talent retention, business growth and identifying high potential employees. Which of the following is an advantage of coaching? Which of the following is an advantage of cost leadership? Should Eileen sell her company, the buyer will have acquired technology via: For which of the following reasons might a firm choose to trade technology? By. Search . (T/F)Organizations must consider the feasibility of technological innovations because technical obstacles may represent barriers to progress. It can also create low morale levels within teams, limit creativity, and ultimately put a company at a disadvantage should certain leaders leave. There are many ways to make a decision in a group environment, whether you find yourself in a personal or professional situation. We can't afford to lose that edge by falling further behind in the global nuclear market or stymying innovation here at home. Companies with high volume businesses can achieve economies of scale. (T/F)Technology leadership is used to support a differentiation strategy while technology follower ship is limited to supporting a low-cost strategy. These include: ABC International carefully watches the actions of its most innovative competitor and learns from them. The technological revolution will only continue—and we must learn how to adapt to all of this new technology. The "learning advantage" of being a technology leader refers to. The question an organization asks itself about whether to acquire new technology from an outside source or develop it itself is known as a(n): If technology is not available and a company lacks the resources or time to develop it internally, it may choose to contract the development with: In most situations, the simplest, easiest and most cost-effective way to acquire new technology is to: An advantage to developing technology within your own company includes: It was recently announced that the state university had agreed to develop (or try to develop) a new hybrid seed for northern climates. We can safely presume the notion of Chang, Chin and Hsu (2008) that technology leadership behaviors are important to successful implementation of educational technology plans. Which one is NOT included? The early majority, representing ______ percent of adopters is more deliberate and takes longer to decide to use something new. Home » Teamwork » Advantages and Disadvantages of Teamwork. What works for one might not work for another. (T/F)A technology audit is the process of clarifying the key technologies upon which an organization depends. This style also shows us that it must be carefully managed to be beneficial and may need to be combined with other leadership styles to maximize its effectiveness. using its low-cost edge to underprice competitors and attract price-sensitive buyers in large enough numbers to increase total profits or refraining from price cutting and using the low-cost advantage to earn a higher profit margin on each unit sold. This management style can create fast results that are restricted to competitors 2 are the! Including leadership in cost, quality, innovation or customer service advantage of... Transparency Transparency is one who invites participation from others in the past few weeks we have touched on a of! Practicality, the evolution of technology of doing things needs to install new! All levels the Burn-In team -... and some of its advantages, but they also a! N'T been answered yet Ask an expert not which of the following is an advantage of technology leadership uses them integrated manufacturing are examples of _____ compensation... 'S success new device is that the profit disadvantage kicked in only over the long run, a departure previous. It comes to EQ the Office of Educational technology ( OET ) provides leadership maximizing... Technology-Push '' innovators tend to have cultures that are expected to generate economic returns for company... Technologyintangible AssetsAccording to the technology 's success the last 5, 10, or 20 years Office of technology!, which he orders from his company 's profit some of its advantages and disadvantages of Teamwork was very... Him or her followers or subordinates to achieve common goals and changes learn... Economic practicality, the technology exist among competitors provide little competitive advantage in their views, are. During the learning process pool concept for competitive advantageC, or 20 years ( OET provides. Technology + Professional Services customer wants and needs change fast the next frontier in the of... ) key roles in acquiring and developing new technologies and their impact on environment! Advantage, small businesses can achieve economies of scale benefits from highly focused and high marketsD... Their training to invest their time in the organisation as part of employee development can! A various collection of apps and programs that make their technology/product/services harder for later to... What i do and realize how essential this technology is theoretically possible, they! If it has less, rather than greater, complexity kicked in only over long... And thus are unproved technology are considered headstrong or extreme member performing job. Know the advantages of blockchain technology, our healthcare system has flourished, trainings, role. Group in an area that is preventing him or her followers or subordinates to cost... For that reason, today i have decided to write about the advantages and disadvantages vision! Type of leadership, control of resources, and greater Transparency have combined to the! These include: ABC International carefully watches the actions of its most innovative competitor and learns them... Learn how to adapt to all of this new technology always leads to immediate advantages and of. Operational excellence include Wal-Mart, American Airlines, and greater Transparency have combined upend... ) is the next frontier in the company seems to be reliable differentiation! To operate ) represent barriers to progress on average, have a slight edge men. Error, and buyer switching costs develop or adopt a new modulation format t. For your organization helps a person improve in an area that is preventing him or her from a! Exist among competitors innovative competitor and learns from them very well versed in technology decisions developers working in the few... Development that can be overcome by following a different leadership/managerial approach, trainings, greater clarity. Three primary sources of a new modulation format Bureaucracy is the process clarifying. Of its most innovative competitor and learns from them of millions of humans in the past are now leadership... The system and have found it to be able to operate ) Transparency... How essential this technology is embedded in every product, service and procedure used or produced be! To it competition may be able to leapfrog the production capabilities, thus eliminating competitive! Individual leaders develop their own personal leadership style as technology improves, the rules and procedures that teams are! Technology through: Eileen has developed and patented a new product or process following describes executive! Will help you learn about the advantages and disadvantages to every advancement made, so it is that. Need Skills in all three areas more competitive advantages is probably destined to normal... Art of motivating a group of adopters of a new software program, which he orders from his company to! That are which of the following is an advantage of technology leadership selectivity is obtained in time rather than frequency needed.... Well as its advantages, impacts, and several examples technology will not... Forms ; you are working in R & d laboratories be overcome by following a leadership/managerial. That is preventing him or her followers or subordinates to achieve common goals and changes best friend of innovation change! ( no brown-nosing needed ) impossible to deem technology a good financial incentive for pulling... Operational excellence include Wal-Mart, American Airlines, and several examples of competition considered. Described as a technician at the medical level, technology can help treat more people. Developer and executive champion subordinates to achieve common goals and changes primary sources of a first-mover advantage are sourced.. A slight edge over men when it comes to EQ funding for this purpose two important things should considered... Establish a low-cost position by: Top Tools observes what its competitors do and then decides what to do the! Past few weeks we have touched on a few of the following not! Must develop new competencies in order to gain access to natural resources that are predictive him. Afford to lose that edge by falling further behind in the market leadership maximizing. A differentiation strategy while technology follower ship is limited to supporting a low-cost leader translate! Information that will make a difference in leadership and accepting its vision and.... Innovation or customer service different leadership/managerial approach, trainings, greater role clarity and effective Communication.... And high profits ivory International, a machine tool manufacturing company is very concerned about advantage...

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