Posted: September 2nd, 2022

Leveraging Technology

Leveraging Technology
Technology is crucial to a business since it boosts the competitiveness of a business. Reynolds Tool & Die has plans to enhance their software and hardware components to boost competitiveness, enhance workflow efficiency and reduce of production. The technology will be used to reduce the workforce thus cutting down on the cost of paying huge salaries. The old software systems will be upgraded thus enhancing customer satisfaction and increasing the quality of service. The company is thus relying on technology to boost its competitiveness in the market.
Competitive Advantages
The business has a goal of expanding into new markets by boosting its customer base. The company has engaged in a joint venture to access the new target market. The business has acquired another company which has enhanced policies and better technological infrastructure. The purpose is to diversify and enhance the achievement of their competitive goal of better policies and better infrastructure (Kim & Hemmert, 2016). The business would like to achieve greater workflow efficiency since it has no cloud applications currently. Additionally, there is a demand to integrate mobile devices in the company. The newly acquired company has better policies on the integration of mobile devices. Therefore, the parent company will be required to improve their level of technological development.
Internal Information Technology Resources
The company has no cloud applications which are necessary for the business to promote the efficiency of work. The company has laptops, printers, and servers that are five years old, which means they need to be upgraded in terms of the hardware and software components. The laptops and desktops are using Microsoft Office 2007 while the servers are using Microsoft Server 2012, thus the need for an upgrade of the software. Additionally, the newly acquired company is using Microsoft Server 2013 while their partner in business is using Microsoft Server 2016. Therefore, the company needs to upgrade both software and hardware components to promote efficiency in the business (Kim & Hemmert, 2016). The improvement will be effective in boosting the sales and competitiveness of the business.
Plan to Achieve Competitive Advantage
The company plans to boost its competitive advantage by boosting its information technology components. For example, they are planning to lower the cost of production by upgrading their technology to the level of the current partner and the newly acquired company. The company also intends to boost its technology and the Enterprise Resource Planning system which will reduce the workforce (Kim & Hemmert, 2016). The company has 300 employees while the newly acquired firm has 80 employees. The different shows there is a need for commitment to boost the technology to cut down on the cost incurred in paying salaries. It has a plan to boost workplace efficiency by enhancing the cloud capabilities of the business. It also intends to develop a new Customer Relationship Management for the new markets. The upgrade on the software and hardware components is meant to reduce the time consuming manual tasks and boost the efficiency of work.
Conclusion
Reynolds Tool & Die has acquired a company that has better technology, which means it needs to upgrade the hardware and software. The laptops and computers are old and thus they have poor efficiency in serving customers. The business would benefit by improving the technology to boost their competitiveness. The improvement will reduce the cost of production, increase efficiency and reduce manual work which undermines productivity.
References
Kim, J. J., & Hemmert, M. (2016). What drives the export performance of small and medium-sized subcontracting firms? A study of Korean manufacturers. International Business Review, 25(2), 511-521.

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Tags: Leveraging Technology