Objectives of the Study
/The proposed title for the study is “Impact of technological innovation in business management of an organization; a case study on Amazon Inc.”
In consideration with the proposed title, the considerate aim of the study is to understand the influence of technological innovation in the business management of Amazon Inc.
Based on the proposed aim and title of the research, following are the objectives that are intended to be attained while implementing the overall research.
- To determine the significance of technological innovation in an organization’s business management
- To analyze relevant literatures surrounding the role of technological innovation in the framework of an organization
- To critically evaluate the role of technological innovation in the business management of Amazon Inc.
- To recommend measures for Amazon Inc. in improving business management with technological innovation
On the basis of the objectives stated above, following are the research questions that the study intends to respond to while fulfilling stated objectives.
- How significant is technological innovation in an organization’s business management?
- What does the relevant literature state regarding the role of technological innovation in an organization’s business management?
- Why technological innovation is significant in Amazon’s business management?
- What measures can be recommended or Amazon to improve its business management with technological innovation?
As per Zhang et al. (2019), the concept of technological innovation relates with the implementation of an idea for a new service or a product that entails the introduction of new elements in the production process or service operation of an organization. To that extent, the concept of technological innovation in an organization is stated as a new or improved processes or product who technological attributes tends to differ significant than before. As such, Hervas-Oliver, Sempere-Ripoll and Boronat-Moll (2021) stated that technological innovation relates with new products or processes implemented through innovations that have been brought to the market. However, Donbesuur et al. (2020) considers that a product or process can be deemed under innovation if it can see to bring advantages in consideration of an enterprise. To that extent, the researcher indicated that the internal resources of technology innovation can see to include research as well as development of new products that aims to reconfigure alongside develop new processes.
While stating the significance of technological innovation in business, Cancino et al. (2018) stated that technology can be utilized in protecting financial data, confidential decisions made by executive alongside proprietary information that leads to competitive advantages. In that consideration, Markard (2020) stated technology aids businesses in retaining ideas that keeps competition at bay. At the same time, the researcher indicated that with technological innovation, an organization can see to incorporate innovative mindset which tends to be useful when predicting the market as well as keep up with the needs of the customers. Hence, it can be stated that if a business does seem to innovate it can help bring new ideas in the marketplace. In that regards some of the technological innovation that has intervened in the new era of organizational business are artificial intelligence, machine learning, robotic computation, block chain as well as internet of things.
Benbya, Davenport and Pachidi (2020) considers AI to be an outcome of technological innovation that adds value to an organization by enhancing the efficiency of a business process with its automation of complex processes, improved risk management as well as personalized customer experience. Amazon is one among several organizations that utilizes AI for understanding the context as well as intent being the search queries of a customer while its foundational smart speaker product, Alexa is also run on a conversational AI platform. The technology acts as supplement that sees enables the organization in in improving customer experience. However, Kuzior, Kwilinski and Tkachenko (2019) stated that the major technological innovation of Amazon is its utilization of information technology in its business processes for it to be able to attain competitive advantage through improved efficiency in storage, collection as well as analytics of personal information of customers.
Technological Innovation in Business Management
According to Lin et al. (2020), support for technological innovation at executive and administration level aids in fostering a culture where innovation is encouraged while one that strengthen the overall potential for success. To that extent, support from an upper level provides leader the required freedom in taking risks while pursuing innovative solutions. However, Phornlaphatrachakorn (2019) stated that a willingness of an organization in enabling some amount of trial and error is required because not every innovative initiatives leads to the anticipated success.
As stated by Leonidou et al. (2020), involving staff or faculty members helps in mapping efforts of technological innovation that tends to be crucial in the direction of technology. However, a fundamental element of stakeholder involvement is communication to which it requires leaders or managers in IT to search effective ways in communicating ideas. As such, in the eventual run, the eventual goal of communication in the process of stakeholder involvement is to solicit the input of staff and employees regarding technological initiatives while see to garner their aid and support.
In the words of Wang and Cui (2019), training tends to be of paramount importance for sustaining ongoing usage as well as seeming to stimulate the expansion of technologies in the future. On the other hand, Liu, Fan and Liang (2020) stated that with time, training tends to be minimal due to the daily activities of an organization which is further diminished by the turnover of knowledgeable employees. The base of knowledge that has developed gradually over the course of time can be depleted although through infusion of new personnel as well as perspectives can seem to realize new opportunities of training.
Raut et al. (2019) opines that the aspect of business management emphasizes on organizing, planning as well as evaluating of organizational activities that are required for running a business as well as managing it efficiently. While the researcher stated that considerate purpose of business management is to help attain collaborative goals, it requires arranging factors of production, organization of resources as well as integration of resources in an effective manner. Likewise, Tsyganov (2019) stated that it sees to direct efforts of groups while orienting it towards attainment of goals.
However, Stankov and Tsochev (2020) considers that the fundamental idea behind business management is to oversee the coordination as well as organization of activities of a business which in a generalized aspect includes the production of materials, money and machines that tends to involve both marketing and innovation. While stating the utility of business management in an organizational framework, Radovic and Salamzadeh (2018) stated it as being a toolset that is utilized for tactical implementation as well as strategic planning of processes, practices, guidelines, policies as well as procedures. In turn, it can be applied in the deployment, execution as well as development of business plan and strategies alongside any associated activities of management. With that being stated it builds the foundation for taking strategic decisions of business when it comes to relevant processes, activities, tasks as well as procedures. In that regards, the considerate goal is to attain the objectives that an organization has set in terms of satisfying the needs as well as expectations of customer.
Significance of Technological Innovation in Business
As much as relevant literatures indicated that primary idea of business management system is based on providing the required toolsets for monitoring, controlling and planning activities, it intends to put into impact the organization through continuous improvement processes. At the same time it sees to assess the performance of the organization in regards to its overall productivity, profitability as well as the efficiency of the organization. In correspondence it can be stated that the framework of business management entails the principles of an organization’s existence while it is associated closely with the success criteria of a business.
When it comes to defining theories of management there are three at the most which are classical management theory, behavioral management theory and modern management theory. While the theories tend to differ in terms of its conception, it relates similarly with an organization’s ability to attain objectives. With that being stated, the management theory as per Ferreira, Mueller and Papa (2018), provides more than one ways of solving problems related with that of management. In that regards, the theory of management can be defined as the determination of goal, planning as well as organizing around the considerate goal alongside leading and controlling efforts for ensuring that the goal is completed successfully. In regards to classical management theory that entails structural and mechanical perspective, there are three significant theories at the most which are scientific management and administrative management. While the scientific management devised by Frederick Taylor sees its relevance in the production of an organization, it bears its major consideration in increasing performance as well as efficiency. As for the administrative management theory, Paramboor and Ibrahim (2018) stated that it emphasizes on utilizing organizational structure, control as well as management for the purpose of increasing performance and efficiency.
The behavioral management theory offers its perspective in a different manner while making a change from the structural and incorporating a human perspective. Under the behavioral management theories are Mayo’s principles relating with issues of workplace caused from human and social factors as well as stating that motivation, job satisfaction and productivity to be dependent more on involvement, cooperation as well as recognition. On the other hand, there is the McGregor’s Theory X and Theory Y that details two different styles of management. While the Theory X states that organizational goals are accomplished through rules and punishment, Theory Y considers that goals are accomplished through incentives.
In consideration of the influence of technological innovation on business management, (Millar, C., Lockett, M. and Ladd, T., Millar, Lockett and Ladd (2018) stated the fact that utilization of technological innovation can help in carrying out management in an organized fashion. With that being stated, Cai and Li (2018) considers that with technological innovation, an organization can see to improve its sustainability. As much as a sudden change in the era of business calls for business models that are sustainable, the concept of sustainability has emerged as being essential for firms to be able to attain their performance targets which in turn relates with business management. While relating with the fact that technological innovation have a direct influence in managing the performance efficiency of an organization, Yunis, Tarhini and Kassar (2018) opines that the application of technological and scientific innovation can see to propose more diversified methods of management. As much as these methods can seem simpler as well as convenient, it can let internal management of an enterprise to be able to operate in a systematic manner. To that extent, Khin and Ho (2018) stated that digital information technology is a relevant example that is being used widely as per actual situation of a business administration. In that regards it can see to reduce the needs of employees effectively while effectively remove the efficiency of internal management.
Technological Innovation in Amazon Inc.
As per Sileyew (2019), research design entails the framework of market research methods as well as techniques that are chosen by a researcher. It relates with a design that is opted by a researcher that enables them in utilizing methods that seems suited for a study alongside set up studies successfully in the future as well. While a design of a research can be qualitative, quantitative or mixed, out of the three types it requires choosing one between the different types of research methods. In that regards, it can be stated that the design of a research depends on the method that has been opted by the researcher in the relevant context of a research. Furthermore, a research design can see to include elements of data collection, measurement of data with the respective toolset as well as the analysis of data.
While the relevant study intends to determine the influence of technological innovation in the business management of Amazon, the quantitative research design has been opted as the considerate choice. As per Bloomfield and Fisher (2019), quantitative research design aims at discovering how people think, act or feel in a specific manner while can see to involve large sample size. Besides being more objective and focused than qualitative, quantitative research design helps in processing as well as analyzing data of large sample sizes in a more effective manner owing to its level of precision and efficiency. As such, with quantitative research, the findings of the research can be generated quickly with precise set of results being generated following its implementation. Hence, quantitative research design will be conducted for the study in order to determine the influence of technological innovation in business management with the method of survey conducted on a particular set of sample population.
As stated by Morgan et al. (2019), a research strategy entails a sequential plan of action that offers direction to one’s thoughts and effort while allowing one to conduct a research in a more systematic manner. The considerate purpose of a research strategy is to select a proper method that can help in producing quality results correlated with detailed reporting. In the given context that aims to insight with quantitative research strategy, the method of survey is stated to be implemented with the purpose of obtaining numerical data from a sample population. Since Moeini et al. (2020) considers that quantitative research strategy focuses on attaining numeric and unchanging data, the survey can be considered as the proper method with it seeing to collect responses from a particular set of respondents. In that consideration, the respondents or the sample population will comprise employees from the organization of Amazon Inc. owing to the fact that the study is based on the relevant organization. By using the random method of sampling, hundred employees of Amazon Inc. will be selected while seeing to prevent bias while a questionnaire will be formulated that bear relevance with the given context of the study. The responses thus attained from the sample population will be analyzed in order to fulfill the objectives and thereupon accomplish the stated aim of understanding the influence of technological innovation on business management of Amazon Inc.
Support and Involvement of Stakeholders in Technological Innovation
With the purpose of trying to conduct the research in an ethical manner, the participants are being told to offer their consent for them to participate in the survey voluntarily. Aside from confirming consent, the data being obtained will be assured of protection under the amendment of Data Protection Act of 1998 with the purpose of preserving the confidentiality of information alongside retaining the anonymity of the participants.
The results upon being obtained from the quantitative survey will be analyzed with the process of statistical data analysis wherein the majority of the responses will be taken into consideration while be evaluated in relevance with the context of the study. The method of analysis can help understand the insight of the selected employees alongside provide an understanding on the essence of technological innovation in Amazon Inc.
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