Advantages of using new technologies in a Company

Case Study based | a) List out the advantages of using new technologies in XYZ Company

Q.3: Read the following case study thoroughly and answer the following questions:
This case study deals with technology diffusion. XYZ is a small software development company, established in 1970. Their products commanded a good brand value in the market. Their market value was Rs.200 crores by the year 1995. So the company decided to expand its business by offering new products based on cutting-edge software technologies. In this context, the company’s General Manager (GM) decided to buy new technologies and introduce them in the company. When he discussed this matter with company’s employees, they were not enthused because they had to learn new skills to master new technologies. They were comfortable with old skills and showed their reluctance towards new skills. They also though that new technologies may make them redundant. One of the employee also said that the new technologies will add to the company’s costs.

 
After considering all the opinions and suggestions, GM took a decision. He selected two employees who showed an inclination towards learning new things and sent them for training to ABC Software Company. At ABC the two employees of XYZ received technical know-how with respect to the usage of new software. After completing their training, the two employees returned to their company and conducted a workshop for one week on the usage of new software. This workshop helped the employees of XYZ to shed their inhibition towards new technologies and the usage of software. Now the employees started using the new software without any difficulty. 

For any doubts or clarifications, they could freely consult the two employees who had received training at ABC company. The GM felt happy that all the employees had no difficulty working on the new software. The good leadership qualities exhibited by the GM led to the introduction of new software and its acceptance in the company. In the year of 1996, the company bagged a project that especially required the assistance of the new software being introduced. Since all the employees were trained to work on the new software, the new project was successfully completed in a record time. The completion of the new project increased the XYZ’s profit to Rs. 500 crores. The credit for successful diffusion of technology in the company and resulting profitability goes to the insight and leadership qualities of the GM.

 

a) List out the advantages of using new technologies in XYZ Company

Answer:
The advantages of using new technology in the XYZ Company with reference to the passage above:
· The company bagged new project that needed the assistance of the new technology. With the new technology they had the required skills to do the project.
· As they were more skilled with the addition of new technology, they got work.
· Since the employees were trained to work on the new skills, they completed the project successfully.
· The completion of the new project increased the profit of the company from Rs. 200 Crores to Rs.500 Crore.
· The company with the addition of new skills can cope with more work in the area.
· Prospective client will have confidence in the company because of the skills available with them to work on project.