The business is alwaysin the need to adopt new technologies and keep their company according to thecurrent trend and up to date .this willhelp them to stay in the race with their competitors. In business technologicalinnovation can take many forms, including computerization and mechanization ofnecessary systems and processes. Technological innovation can offer a numberdisadvantages which is giving tough time to industries to go along withinnovative technology to improve their operations.
· Unemployed workforce:Whileinnovative technology may reduce the dependence on a workforce, the flip sideis that employees lose jobs in the process. In the case of a smallenterprise person; she must make a difficult choice between increasing profits andterminating long-time workers. Even if the implementation does not result injob loss, some employees may have difficulty adapting to the change.
There arehuge chances of risks when introducingthis drastic change in the company which can also reduce the company’s productivityfor the time being. · High Investment Costs:Implementationof new technology often involves high upfront costs. Whilethe price of hiring new employees is cheaper as compared to implementing newtechnology the economic outlay needed to purchase new technology is usuallypast a company’s budget. This makes it harder for companies that cannot affordthe technology to stay in business. Employees work first and get paid later.With technology, the company has to make the initial investment before it canrealize any production advantages.
· Over dependence: business technology isable to automate complicated tasks so that it can be done faster by fewerpeople. The problem arises when that technology breaks down and you and yourteam are left to your own devices. The problem with automation is that peoplebecomes too reliant on the technology that they do not bother to learn how todo the task manually. As a result, when the technology goes down, it takes thewhole business operations with it..
· Makes employees lazy: Since most tasks are automated by technology, manyemployees become lazy at work, technology kills their creativity and skills.simple activities like calculating salesand monitoring inventory are being finished with computers, so you will findthat workers do not placed their brains at work, they can’t resolve high-endbusiness problems because a computer or software will do it with no challenge.