Graduate school

Question 1
In all business areas making decisions is a natural part of any company’s management process. Does not matter if it is a small business or a huge multi-national corporation. They all need to make decisions to ensure their continued operation. And that’s exactly what a maneger’s job in organization comes down to a constant process of decision-making to ensure continued growth and achievement of business goals. In the past all managers had to rely on in their decision making was pretty much just their experience, their limited knowledge and their instinct. But, today, thanks to the wonders of technology, decision makers can have access to an enormous amount of data, making the process a lot easier. So, technology is taking on increasingly major role in decision making today. It provides an immense amount of data to make your business decisions more informed and accurate. Advanced tools such as data analytics, data mining and so on.
Question 2
From my point of view technological management plays a pivotal role in education sector of all over the world and it is causing huge changes in all sectors of the economy. These changes will make the world a better place. So, these innovations are giving classrooms a new look and have changed the ways in which lessons are conducted. I think technology is being enhanced dramatically these days. As a result, school is a good training ground for future professionals. It can help children by integrating technology into their system through their materials, facilities, rooms and even modules. Nowadays young generations are digital natives. Utilizing technology for their daily studying can help them more than it can drag them down.
In the beginning of Coronavirus we could not teach children at schools and everybody was shocked. During the pandemic, we can recall how our education sector carried out online classes. At that time, technology helped us to teach young generations through online lessons.
SECTION B – Answer the following two questions. All questions carry equal marks.
Q. 1 a) Everyday, there is new technology that comes out to make the business world more advanced. Most people tend to say money makes the world go round, but the rapid advancements of technology are not far behind. Companies worldwide are relying on emerging technology more than ever to help drive innovation, strategy, growth and increase competitive advantage. Technology has become a crucial and indispensable part of almost every kind of business. Without the role of technology in business, many businesses simply could not survive. Technology in business allows organizations to improve both the performance and overall effectiveness of products, systems and services and it enables businesses to expand quickly and efficiently. Technology has a wide range of potential effects on management, as well as various ways it can impact the operations, productivity, profitability and sustainability of an organization. Modern technology offers numerous tools and applications — such as electronic email and live chat systems — that help managers effectively communicate with staff and oversee projects. Business technology not only improves communication in the workplace but also with clients. Companies use technology systems to improve the way they design and manage customer relationships. Technology such as electronic files speeds up the workflow process and can save space, paper and printing costs. Business technology enhances accounting procedures and recording of financial documents and improves inventory management. Technology in the workplace also improves the efficiency of recruiting, screening and hiring potential candidates. Another importance of the role of technology in business is to provide security to a business. Major advancements in electronic security systems and biometric alarm systems are helping keep businesses safe from hackers and thieves.

b) A high-tech enterprise is an economic entity operating in the sector of high-tech industries, possessing innovative activity, performing research and development, both at the expense of its own and borrowed funds, managing on the basis of innovative methods and technologies, and corresponding to the generally recognized in the world practice requirements and criteria. There are two factors external and internal factors. Now we will look through both of them. External factors, which include the economic, political, technological and social. Internal factors are the resources for enterprise management. An analysis of the macroeconomic environment represents one of the tools of forming an effective model of high-tech enterprise. The external factors have the greatest impact on the development of the enterprises that produce high-tech products below. Economic factors have a strong impact on all business processes of high-tech enterprises. Economic factors are determined by the levels of development of national and world economy, marketing institutions, the welfare of the population, the unemployment rate, taxation and productivity. Analysis of the economic factors that influence on the development of high –tech enterprises helps: to ensure the competitiveness in the world and local markets of high-tech products, to increase the value added high-tech products and productivity, to maintenance of the necessary high-tech production resources. Intensive development of the innovation economy promotes the expansion of foreign exchange operations, an in – depth examination of international experience of creation and commercialization of high technology. To create the competitive product it is necessary to investigate not only domestic but also international experience, to take part in international scientific conferences and exhibitions of high technology, to close deals with international counterparts. An analysis of external economic factors would allow: to share the results of scientific and technical results with international counterparties, contribute to the strengthening of the political, scientific and technical relations, to contribute to the growth of the export of high technology. The main goal for the high technology enterprise management is to identify all external factors which influence on the economic activity.

Q. 2 a) Since coronavirus has spread widely. It has caused many unwanted and unprecedented changes in every sector of economy, such as automobile, hospitality, aviation, retail and so on. In a word, a majority of these sectors have experienced only the negative impacts of this pandemic or lockdown situation on their respective businesses.


b) Generally, some people tend to say IT plays a pivotal role in our life and it makes our life easier. For example they can work at home without going to office or they can easily do shopping via net. On the other hand most people do not prefer to IT technology due to affecting negatively. It spoils our young generations’ mind and behavior. So, from my point of view technology is crucial because it is used for almost everything and like everything at present. In the world today, people cannot live without technologies such as televisions, mobile phones, computers and others. These technologies have slowly taken a pivotal part in people’s daily life and being without them would be unimaginable for some of us. I think all things have pros and cons sides. First, the evolution of technology is beneficial to humans for several reasons. At the medical level, technology can help treat more sick people and consequently save many lives and combat very harmful viruses and bacteria. The invention of the computer was a very important point. Communication is thus enhanced, and companies can communicate more easily with foreign countries. Research is also simplified. For companies, progress in implementing strategic technology trends is helping them save time and therefore, money. Exchanges are faster especially with the internet. Sales and purchases are now facilitated and possible worldwide. This allows businesses to buy raw materials with discounts or at reduced prices. Similarly, global tourism has grown. On the other hand, the evolution of modern technology has disadvantages, for example, dependence on new technology. Man no longer needs to think. Even if the calculator is a good invention, man no longer makes mental calculation and no longer works his memory. The decline of human capital implies an increase in unemployment. In some areas, devices can replace the human mind. In other words, as most technological discoveries aim to reduce human effort, it would imply that more work is done by machines. This equates to less work for people: the human is becoming ever so obsolete by the day, as processes become automated and jobs are made redundant. All in all, as Allison Burnett said: “Only on the Internet Technology can a person be lonely and popular at the same time”.