Are you an early technology adopter or late majority?
Technology has transformed the way companies do business, especially since the rapid advancements in computers, internet, communication, digital technologies. Technology plays a crucial role for any business to stay relevant & competitive in this era of cut-throat competition. Are you a technology adopter?
Have you adopted technology in your business?
Are you leveraging technology to improve your business?
In the “Diffusion of Innovations Theory” sociologist Everett Rogers points out that not everyone possesses the same motivation to adopt new technologies. He explains that there are 5 adopter categories:
Innovators: These people are willing to take a risk and adopt new technology earliest.
Early adopters: They are usually younger, more technically equipped, and adopt new technology well before others, to stay ahead of the curve.
Early majority: They are more cautious and will adopt technology based on the observations of utility and practical benefits.
Late majority: Late majority are usually older, less tech-savvy. Hence they are extremely cautious before committing to new technologies. They may also need some hand-holding in the initial stages.
Laggards: They are the slowest to adopt new technology. This group may accept the change only when they are left with no choice and are forced to adopt new technology.
Are you a Technology adopter?
If NOT, What are the apprehensions you have in adopting new technology? It is time to introspect and judge what is holding you back from adopting technology.
- The cost required to implement new technology
- Resistance to change & adopt new technologies
- Lack of technically equipped employees to implement new technology
- Overworked, Overloaded staff having no time to adopt new technology
- Uncertain whether new technology will provide value & positive ROI
Technology is indispensable and adopting new technologies is essential & imperative. It is now a matter of “When & How should I adopt new technology” rather than “If I should adopt new technology”.
What is the role of Technology in Business? What makes Technology so important?
With computers & the internet, we can access a world of knowledge and obtain information on almost any subject within seconds. Mobile phones or Smartphones have become an inherent part of both, our personal or professional lives. Digital Technologies have replaced traditional methods in business and a lot of repetitive, manual work has been automated & to save significant time & efforts. Software, Tools, Mobile Applications now enable gathering real-time data from business processes. Employees can now stay constantly connected, even while traveling or working from remote locations. Cloud technologies have made it far easier & economic to store and access data over the internet.
Technology helps companies:
- Improve Communication & Collaboration with employees, vendors, stakeholders
- Streamline, Digitize, Automate, Processes & Boost Productivity
- Provide Real-Time Data & Insights into Business processes
- Make Informed, Data-Based Decisions
- Stay Agile, Gain a competitive edge.
Do you want to adopt new digital technologies to transform your business?
Creating an IT infrastructure that is favorable for new digital technologies is essential to draw the roadmap for technology adoption
- Evaluate the current state of processes, to determine what needs to be improved?
- Assess whether your current systems can support new technology transformation?
- Top Management should be the driving force in the journey of transforming to new technologies and provide requisite financial, technical & physical resources
- Define specific objectives such as streamline processes, improve time to market, increase productivity, etc
- Identify team members who will be primarily responsible for the implementation of new technology
Summary
Embrace Technology. Gain deeper insights to enhance productivity & efficiency, improve your products, services, customer service, and maximize your profitability.
To learn more, read our Blog: How to achieve digital transformation?
