Posted: January 28th, 2022

Leveraging Technology

Taking Advantage of Technology Name of Academic Institution

Taking Advantage of Technology

Technology is critical to a company’s success since it increases the company’s ability to compete. It is the intention of Reynolds Tool & Die to improve their software and hardware components in order to increase competitiveness, improve workflow efficiency, and lower production costs. The technology will be used to minimize the number of people on the payroll, hence lowering the cost of paying large wages. The existing software systems will be upgraded, resulting in increased customer satisfaction and an improvement in the overall quality of service. Consequently, the corporation is relying on technology to increase its competitiveness in the marketplace.
Advantages in a Competitive Environment
The company’s long-term goal is to increase its customer base in order to expand into other areas. In order to gain access to the new target market, the company has formed a joint venture. An additional company has been bought by the company, which has improved policies as well as a more advanced technology infrastructure. The goal is to diversify and strengthen their ability to fulfill their competitive goal of better policies and better infrastructure, which is to become more competitive (Kim & Hemmert, 2016). Because the company does not currently use cloud-based apps, it would like to improve the efficiency of its workflow. Additionally, there is a demand for mobile devices to be integrated into the workplace. The newly acquired company has more favorable policies for integrating mobile devices into the workplace. As a result, the parent business will be compelled to raise the level of technological development of its subsidiaries.
Resources for Information Technology within an organization
The organization does not have any cloud-based applications, which are required by the business in order to increase the efficiency of work. There are laptops, printers, and servers in the organization that are more than five years old, indicating that they require an upgrade in terms of both hardware and software components. In this case, the software on the laptops and desktops is Microsoft Office 2007, whereas the software on the servers is Microsoft Server 2012, necessitating an upgrade of the program. Aside from that, the newly purchased company is running on Microsoft Server 2013, whilst their business partner is running on Windows Server 2016. As a result, the organization must replace both software and hardware components in order to improve overall business efficiency (Kim & Hemmert, 2016). The enhancement will have a significant impact on increasing sales and increasing the company’s competitiveness.
Develop a strategy for achieving competitive advantage.
The corporation intends to improve its competitive advantage by increasing the amount of money spent on information technology components. By improving their technology to be on par with that of the current partner and the newly acquired company, for example, they intend to cut the cost of production. The company also plans to improve its technology and Enterprise Resource Planning system, which will result in a reduction in the number of employees (Kim & Hemmert, 2016). Currently, the company has 300 employees, whilst the recently acquired company has 80 people. The fact that there is a need for dedication to enhance technology in order to reduce the costs associated with paying employees is demonstrated by the differences. In order to increase workplace productivity, the company intends to improve the company’s cloud-computing capabilities. Also on the agenda is the development of a new Customer Relationship Management system for use in the new markets. The upgrading of the software and hardware components is intended to reduce the amount of time spent on manual chores and increase the overall efficiency of the operation.
Conclusion
Since it has bought a company with more advanced technology, Reynolds Tool & Die has had to improve its hardware and software to accommodate the acquisition. The laptops and computers are old and thus they have poor efficiency in serving customers. Improving technology would be beneficial to the company in order to increase their competitiveness. The change will lower the cost of production while simultaneously increasing efficiency and reducing manual labor, which is detrimental to productivity.
References
Kim, J. J., and Hemmert, M. (2001). (2016). What factors influence the performance of small and medium-sized subcontracting enterprises in the international market? A research of Korean manufacturers was conducted. International Business Review, volume 25, number 2, pages 511-521.

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