Embracing Technology: A Shift in Leadership

Traditional and contemporary leadership styles appear increasingly outdated in light of the ongoing technological advancements worldwide. This brings forth the question: are the principles of traditional leadership, from which many leadership theories used today are derived, socially and economically sustainable? Do these theories adequately consider the diverse styles of organizational leadership and employees? More importantly, can these views be aligned with the rapidly evolving technological environment?

This blog post explores the rationale for cultivating leadership styles that foster economic and social sustainability, are inclusive of both leaders and followers, and remain consistent with the newer landscape of technology.

Perhaps many of the inequalities in economic and social classes stem from existing leadership styles. Having researched various leadership styles, including bureaucratic, trait-based, behavioral, and servant leadership, it's evident that many have become obsolete, not just due to technological advancements but also because of their contribution to economic and social divisions.

Consider bureaucratic leadership, a top-down organizational approach. Under this model, decisions are predominantly made by leaders at the top, often sidelining the input and perspectives of lower-level employees. This is just one illustration of how social and economic divisions may be constructed.

If equality among economic and social classes were achieved, an emergence of efficient and effective technology usage could occur. My rationale? With equal access to resources, previously divided groups would have the opportunity to develop skills and expertise in their respective fields, enhancing the usage of industry-specific technology. The insights gained by individuals could then translate into shared knowledge, fostering a collective understanding of technology's potential.

Imagine a world where technology is embraced holistically, seamlessly, and cohesively! Such an approach could unlock possibilities for innovation and thriving organizations.

References:

https://www.slideshare.net/mistodome/the-differences-between-traits-theories-and-behavioral-theories-of-leadership

https://www.thetbs.org/study-materials/wp-content/uploads/2023/02/Bureaucratic-Theory-Max-Websr__A.-Review-Study.pdf

Feel free to comment on your thoughts, opinions, or experiences on this post below...

Why Use Technology in Your Small Business?

There are over 33 million small businesses in the United States; yet, less than half use specialized software in their business operations. Various reasons, such as costs and knowledge, lead leaders and employees to avoid employing specialized software. However, I believe there is a need for more technology usage within small businesses, whether it be for accounting, marketing, or operational processes. Technology has the capability to enhance and/or grow a business’s capabilities.

Benefits

Let’s look at the benefits of technology usage in a business, we will explore technology usage in small businesses and focus on:

• Efficiency

• Effectiveness

• Competitive advantage
  

Efficiency

Efficiency in a business is a necessity for strategic growth and sustainability (in terms of the ability to carry on year after year). According to the Chamber of Commerce, “18% of small businesses fail within their first year, while 50% fail after five years and approximately 65% by their tenth year in business.” One of the top reasons small businesses fail is ineffective business planning, I am assuming there is a lack of technology implementation and its alignment with organizational objectives. Proper technology implementation aids in negating small business failure because it can enhance business processes and operations through its ability to make a business run more efficiently to enable strategic growth and sustainability (as defined above). For example, accounting software may streamline and automate processes usually done manually. Technology implementation is inevitable given the rate at which it is changing society; as a small business, one must be willing to adapt to these changes.

Effectiveness

Effectiveness is focused on achieving the results aimed for. Whether you are aiming for higher profitability, higher customer satisfaction rates, or an increase in traffic to your business, technology can assist in these processes, from analyzing data to guiding you to achieve the goals. To be more effective through the usage of technology, a small business leader can integrate technology in alignment with the needs of the business. For example, an automated invoicing system may include the ability to build reports to enable informed decision-making through data analytics. The reports generated may even highlight other deficiencies in effectiveness. Technology, in turn, advances a business environment and creates efficiency when in alignment with the goals of a business.

Competitive Advantage

In an ever-changing technological environment, small businesses often find themselves competing to sustain a competitive advantage against other small businesses and larger corporations. Though the implementation of technology may be costly, if implemented correctly, it may increase a business's longevity through an increase in competitive advantage. There are many types of technological advancements that may assist in maintaining business operations. It is up to leadership to decipher which are most beneficial to the company and in alignment with organizational objectives. It is important to align technology with organizational objectives for the technology to reach its full capability within a business.

There are many ways to increase effectiveness, efficiency, and competitive advantage; implementing technology is becoming an increasingly important way to do so. Through breaking the bounds of manual input, technology has become overwhelmingly essential to businesses. Don't be afraid to unleash the potential of your business!

References: https://www.chamberofcommerce.org/small-business-statistics/

https://advocacy.sba.gov/2023/03/07/frequently-asked-questions-about-small-business-2023/#:~:text=There%20are%2033%2C185%2C550%20small%20businesses,net%20jobs%20created%20since%201995.

Feel free to comment on your thoughts, opinions, or experiences on this post below...

Business and Technology: The Integration of Two Realms

Welcome to my first blog post, exploring the impact of technology on buisnesses!

Business and Technology

Many have encountered the new generations of technological advancements, such as AI, social media, and beyond. Yet, many individuals do not understand how this impacts how a business is run. In fact, how could an individual understand with the many rapid changes in technology? While the specifics of technological advancements are uncertain, research suggests technology will continue to revolutionize business practices.

There are many practices of a business influenced through the use of technology, including innovation, business models, data analytics, cybersecurity, social media, and marketing, as well as a business’s future endeavors.

At the core of this technological evolution is the imperative to integrate, not replace, traditional business foundations. From fostering innovation and shaping unique business models to the power of data analytics, technology emerges as a multifaceted force, serving not only as a crucial enabler in the evolving landscape of business.

In the realm of innovation and business models, technology's influence is undeniable. It sparks creativity, encouraging businesses to think beyond traditional boundaries and reimagine their approaches to product development, service delivery, and customer engagement.

Simultaneously, the influence of technology extends into the domain of data analytics. Businesses leverage advanced analytics tools to derive actionable insights from vast datasets, thereby informing strategic decision-making. The power of predictive analytics becomes a guiding force, allowing organizations to anticipate market trends, consumer preferences, and operational needs, fostering a proactive stance in a dynamic business environment.

Technological advancements reshape the realm of cybersecurity. With the digitalization of business operations, robust cybersecurity measures become even more relevant. Technology introduces advanced protocols and solutions to safeguard sensitive data. This heightened focus on cybersecurity not only protects valuable assets but also reinforces the trust of customers and stakeholders in an increasingly interconnected world.

Social media and marketing strategies undergo a major change, evolving into tools for engagement and brand building. Businesses leverage the use of social platforms, enabling real-time communication with their audience. Targeted advertising and analytics on social media platforms enhance precision in audience targeting, maximizing the impact of marketing efforts and ensuring a direct connection with consumers.

In this dynamic interplay, the essence lies in harmonizing technology with the fundamentals of business. It is about creating an efficient relationship in which innovation advances without overshadowing the foundational principles that have traditionally defined business excellence. The integration of technology is not about discarding tried-and-true theories but about evolving them in tandem with technological strides. This nuanced approach ensures a seamless integration, where businesses navigate the complexities of the modern era with a balance that propels them into a new epoch of possibilities and sustainable growth.

As business owners, executives, and decision-makers find their niche in the integration between technology and business, the overarching goal is clear—to navigate the ever-evolving landscape without losing sight of the foundational principles that define business excellence. This dynamic equilibrium, where innovation and tradition converge, promises a future where technology and business coexist to shape a new era of possibilities.

Stay Tuned for my Dissertation on the Topic of Small Businesses and Technology Usage!

References:

https://www.forbes.com/sites/forbesagencycouncil/2022/02/04/how-technology-will-revolutionize-marketing-in-2022-and-beyond/?sh=117b9cb2fdda

https://www.oksbdc.org/the-role-of-technology-in-business/

https://www.TastyPlacement.com