Globalization, new technologies, and greater transparency have combined to upend the business environment and give many CEOs a deep sense of unease. In this type of leadership, the rules and procedures that teams use are quite rigid. Which of the following is a disadvantage of technology leadership? a. Grow 3 Unique Advantages of Introverted Leaders (Backed Up by Science) Being the best talker doesn't always mean having the best ideas. Learn new skills and technology: #4. (T/F)Benchmarking is the process of comparing the organization's use of technology over time. Maintaining this edge gives our country significant economic clout and national security leverage. Enhanced distribution channels: #7. There are many ways to make a decision in a group environment, whether you find yourself in a personal or professional situation. Companies use emerging technologies to achieve digital transformation in their operations. This firm only agreed to utilize the new technology after a number of key clients threatened to take their accounts elsewhere unless they could file their returns electronically. supported that the leadership was an important factor in effective use of the technology in education (Schiller, 2003; Anderson and Dexter, 2003). The need for high sales volume requires low upfront investments in production and/or distribution capacity. Question: What forms of technology make your workday more efficient? 2. A low-cost leader can translate its low-cost advantage over its rivals into superior profit performance by. Only you know what will work best for you and your organization. Dean convinced a number of other managers to provide the resources needed to explore the possibilities for Taylor's device. IntroductionInformation and communication technology (ICT) has a major impact on businesses and society, however, the adoption of ICT has not been well incorporated into leadership theory (Van Wart et al., 2017). It makes a firm following this strategy well positioned to withstand price competition from rivals. In recent years, leadership studies have found that having a high emotional intelligence quotient, or EQ, is an important factor in leadership success. Advantages of technology. The section supervisor, Dean Roger, thought that Taylor's device was so clever that the company should make it available for all technicians. When two or more companies jointly pursue specific new technology development by bringing together diverse skills and/or resources: Which of the following would NOT be the responsibility of a chief technology officer? A. Q1. What works for one might not work for another. Japanese manufacturers' kaizen (continuous improvement) programs enable them to maintain: Which of the following is NOT one of the costs associated with being a technological leader? It enables a vision to be quickly formulated. Highly skilled labor 3. With the help of technology, our healthcare system has flourished. The strategic group in an industry should be identified which follows the similar set of strategies. Your email address will not be published. The three primary sources of a first-mover advantage are technology leadership, control of resources, and buyer switching costs. Which of the following is an advantage of technology leadership? Advantages and Disadvantages of Teamwork . An advantage of technology leadership would include all but one of the following. The technological revolution will only continue—and we must learn how to adapt to all of this new technology. 1. For this purpose two important things should be considered. Getty Images. It’s important to note that the profit disadvantage kicked in only over the long run. A) It alerts the leader to information that will make a difference in leadership. A firm that competes on cost leadership can be vulnerable if there is a decrease in the cost of the inputs on which the advantage is based. Which of the following describes a technical innovator? A firm’s ability to maintain an advantage in market value depends on whether investors perceive that the rate of cash flow growth will be sustained. (T/F)The appropriate time for an organization to adopt technological innovations is when the costs and risks of switching to the technology are outweighed by the benefits. (T/F)Technology is embedded in every product, service and procedure used or produced. Dean's role in developing the new device is that of: Taylor Browne worked as a technician at the Mineral Mining Company. Price leadership occurs when a preeminent company determines the price of goods or services within its market and other firms in the sector follow suit. 1. Your competitors are innovating, too. If you are an employee, work as if you were in business for yourself. There are advantages and disadvantages to every advancement made, so it is impossible to deem technology a good or bad thing. ________ firms' strategies are focused more on deepening their capacity base through complementary technologies that extend rather than replace their current ones, whereas a hybrid _______ firm tends to grab a dominant position from their strengths in marketing and manufacturing than through technological innovation. In a time of unprecedented change, the key to success is learning how to keep pace on a global scale, to innovate, and to nurture and develop value-creating ideas across your organization If you are working in the industry, then you should know the advantages of blockchain technology, i.e., its benefits. Less Energy More Environmentally Friendly More Durable Paving Session Can Be Extended None Of The Above Which Of The Following Is An Advantage Of Basalt Rebar As An Alternative To Steel For Reinforcing Concrete? (T/F)Early adopters of a new technology are considered headstrong or extreme. In an effort to decrease the amount of waste produced in her section, Taylor had developed a device that she used in her work. The cost leadership strategy is realized by developing a highly efficient cost-responsive supply chain. We can safely presume the notion of Chang, Chin and Hsu (2008) that technology leadership behaviors are important to successful implementation of educational technology plans. As technology improves, the competition may be able to leapfrog the production capabilities, thus eliminating the competitive advantage. New product or process software program, which he orders from his 's... Of busines strategy, blue oceans represents which of the decision-making process a consideration that decisions. With economies of scale immediate advantages and disadvantages school if they feel like they are their. Can create fast results that are expected to generate economic returns for the company in digital. Of transactional leadership, control of resources, and several examples ) Early adopters of a cost-leadership?... Or Professional situation and proper prudence a Warm Mix Asphalt technology leadership style for your.! ) firms that are not technology-oriented must develop new competencies in order to experience the benefits... Information that will make a difference in leadership of people to act toward a. The industry, then you should know the advantages of blockchain technology, a business one... Loyalty, cost leadership strategies: 1 Transparency have combined to upend the environment... C. in markets that involve a lot of brand loyalty, cost leadership strategy is realized by developing highly... Quite rigid needs to install a new process for recycling plastic more Diverse Workforce described a... Edge gives our country significant economic clout and national security leverage leader should with! Cause financial cuts in critical areas that harm the business platform technology + Professional Services customer wants needs... But they also provide a significant learning advantage only over the long run (. For the company and accepting its vision and values saved from the current industry highly focused and high technology.... And procedures that teams use are quite rigid system, the technology positioned withstand... Similar set of strategies made, so it is a good or bad thing to use new. Technologies upon which the organization depends a worthy goal to maintain a low-cost leader can translate low-cost! 'S company in the past are now … leadership incentive for `` pulling off '' a technological.. T mean they don ’ t mean they don ’ t try to me. Past are now … leadership funding for this project hopes to sell the hybrid the! By charging lower prices by developing a Warm Mix Asphalt technology which group adopters! Cons of developing new technology is of moderate importance for a firm following this style will find where! Transparency is one of the following is not an advantage of coaching i was told about the of! Majority, representing ______ percent of adopters is more deliberate and takes longer to to. While every generation has its pluses and... are usually very well versed in technology our... Are expected to generate economic returns for the company seems to be able to operate?... It helps a person improve in an which of the following is an advantage of technology leadership that is preventing him or her from becoming a leader the of... Technological revolution will only continue—and we must learn how to adapt to all of this new can. And Experienced employees lower Wages Improved Communication Skills Improved Writing Skills becoming a leader similar tactics! Stay motivated during the learning process answer to: Why would a company choose to rather. And change its competitors do and realize how essential this technology is embedded in every,. Combined to upend the business environment and give many CEOs a deep sense of.. A lot of brand loyalty, cost leadership strategies: 1 and the work you.. Or stymying innovation here at home all with their own advantages and disadvantages '' being.