Innovation and Technology Management Innovation in Modern Societies

Question: Discuss about the Case Study for Innovation and Technology Management for Innovation in Modern Societies? Answer: Introduction: The essay deals with the invention and innovation in the technology critically analyzing the market behavior and the contention that the combination of Software/Hardware into autonomous Robots is a significant threat to the management of the organization. The last few decades show a huge number of industrial revolutions. In the late 18th century which can be considered as the first Industrial Revolution and almost 100 years later, the second Industrial Revolution caused a massive set of innovations which affected, more specifically improved the socio-economic standard of living of many people in the society. The changes brought a bunch of new economic opportunities in a large scale. The third great wave of technology invention (Oerlemans et al. 2013) as well as financial disordering caused by the advancement of information technology and communi1cation in the late 20th century with machine learning and intelligence, generally known as Robotics and artificial intelligence. The recent revolution that can be considered as the third revolution includes the big data informatics. After that, the fourth revolution includes media and informatics, which enables peoples interaction to be easier. The social media, like Twitter, Linkedin, Facebook, etc. got introduced in this era, show an excellent source of information. The fifth industrial revolution is also emerging, defined as human-technology co-evolution. These technological innovations are causing more expansion of information availability, and people can be more exposed to the world of technology(Williamson et al. 2013). However, the continuous rise in technology invention and innovation also can be considered a hidden problem. The information technology has a limited territory i.e. it cannot reach everyone in every corner of the world. Moreover, the organizations innovation new technologies face certain threats regarding the new technology and artificial intelligence every day. This paper critically evaluates the limitation and risks the organizations face after the third great wave of technology invention. Literature review and critical evaluation: This literature review is going to focus on four major concepts regarding the information technology innovation. The literature review has identified four critical factors. The first key phase is Ends and Means, easing the transition (Yoo 2013). The second primary phase is Displacement Theory, concentrating on Free Market concepts (Williamson, J.M., Lounsbury and Han 2013). The third key phase includes Replacement Theory, focusing on Marxist notions (Johnston and Marshall 2013). The last key phase discussed is Infill /Substitution, involving Labor Economic Concepts. The literature review will critically analyze and evaluate the concepts regarding how the innovation in the technology will cause a threat to the organizations. A: Ends and Means, Easing the transition: First article: According to, de Kervenoael et al. (2015), the non-institutionalized workers are a threat to the organizational management groups. The author states that the outsourced freelancing web designers and software developers are creating a trouble into the institutionalized plans and structures. The availability of internet learning, as well as online courses, is the cause of severe tension for the management of institutions. The freelancing techniques seem to be a large threat to the institutions as well as the workers associated with the systems. The change in altitude also can be considered as the factor for rising technology and innovation. For the purpose of study, the author has explored the role of social media in knowledge sharing as well. The threat occurs mainly due to the social capital theory and social education availability online. Second article: As discussed by Stahl et al. (2014), the rising innovative technology also includes ethical perspectives. This article discusses how computer ethics, innovation, and sound research affect the firm's outputs and deliverables. The discourse in computer ethics causes stress to the vast number of scholars and their personal abilities to work. As a very critical factor for the workers, this causes a huge trouble for the management section. Hacking and other technological crimes are considered to be the biggest threat. The article also includes the unethical means of revealing company's data and other relevant information that are specifically used by the enterprise only. Along with the privacy and security, misuses of scientific practices are also highly criticized in this paper. Third article: Here it is argued that innovation is a means, it is not an end in itself. Although the extent of innovation should always be prcised specifically to that point, up to which it improves and works on economic, environmental as well as the social well-being of the people. The article concludes that if innovative technology only deals with the production and manufacturing new improved goods, which are the current trend in most of the OECD countries, it may affect adversely to the environment with the emission of greenhouse gas and unsustainable growth. Unbalanced production and technology innovations cause socio-economic as well as an environmental imbalance. Therefore, the article discusses the importance of the curiosity-driven innovations and research (van den Hove et al. 2012). Fourth article: According to Davenport (2013), the main purpose of innovation in new technology is the time reduction and production of more efficient output. As discussed by the author, during 1980's and afterward, there was an enormous opportunity for applying new innovative technology affecting manufacturing process and production. The author looked in to the newly implemented procedures and then he had done several surveys of different companies. He found that technologies that were newly implemented, gave rise to the significant level of output production, but it included an extensive training process. Therefore, implementation might have taken more amount of time. Nevertheless, the importance of efficient production leads the firm to acquire innovative manufacturing process thereby affecting the company's future planning and strategies. Critical analysis: From the above discussion of the four articles, it is argued that innovative technology is a means, not an ends to itself. The work ethics, more specifically computer ethics that include privacy and secrecy of the company databases should be strictly maintained. As argued above, the non-institutionalized workers are considered as a large threat to the enterprise managements. These workers' resource is the facility of internet learning and online courses. At the same time, the process of new technology includes a broad agenda of training procedures. The companies may incur a loss due to this. Nevertheless, as the overall implementation of new technology leads to a substantial profit and thereby company growth, the innovative technology is widely accepted after 1980's. B: Displacement Theory (Free Market concepts): First article: As discussed by Adolf et al. (2013), technological unemployment affects the information technology industry. Displacement theory means the change in the labor force of a particular company due to technological change. It can also be termed as technological unemployment as well. The labor force participation rate is decreased due to the displacement of labor from one firm to other. This causes a lower rate of unemployment in a particular company and thus creates a threat to the management. Second article: Here the authors have discussed the indirect displacement of residents and the effects of this kind of movements among the industries. This paper deals with the idea of effects of indirect displacement i.e. the changes in the neighborhood gentrification, experienced by long-term residents. This includes four points of displacement typology such as cultural displacement, social displacement, political displacement and housing market displacement. The case study and analysis describes the idea of displacement theory and free market mechanisms affecting the information technology industry (Twigge-Molecey 2014). Third article: According to Sandstrom (2013), the innovation of new technology, in this case, manual calculator to electronic calculator improved the firm's profit. The company was situated in a small geographic area in Sweden, and the implementation of new technology was difficult. The application of computers by replacing laptops caused a great benefit to the firm. As a competitive market, other companies tried to adopt the same technology. But the small geographical area and free market structure i.e. free entry or exit into the market increased the competitiveness. The displacement of technological labors from other companies occurred and, therefore, the company's situation is better off. Fourth article: The article by Shapiro and Varian (2013) discusses the information economy that has faster technology and communication scopes into it dramatically. Therefore, changes in technology improve the overall economic structure. Nevertheless, in this article the authors argue that technology changes, but the economic laws do not. The management is so much inclined to look into the implementation of new production cum business process that they are unaware of changing the base, i.e. the underlying economic forces that are the primary determinant of deciding success and failure. Social and political dimensions cause a deceleration in business methods. This article argues how the economic process and laws affect the technological process and labor get displaced due to the economic principles and rules. Critical analysis: The above discussion on the articles infers that the free market concept can affect the labor force participation in any industry. The rise in innovations and adaptation of new technology attracts the industrial workers as well as the other competitive firms in the same industry. Therefore, displacement from one firm to another causes a technological unemployment in one firm. On the other hand, due to free market mechanism, other companies adopt the new technology as soon as the right is available and attracts skilled labor. The competition in the market thereby increases. At the same time, the economic laws and principles decelerate technological progress and this, in turn, causes a case of labor displacement. C: Replacement Theory (Marxist concepts): First article: The article by Forster (2016) caters a debate theoretically concerning about technology to be independent of the existing system. In the current information age, the social networking is considered as the most open innovation. However, in the capitalist system, which exploits and commodify the user in the networks, this paper researches through the Neo-Marxist view to analyze three different forms of social networking. This article argues between computer-utopians and the skeptics. A framework of capital accumulation and labor type is selected as a model. The Marxist view of capitalism is discussed concerning new technology and innovations. Second article: The article by Beverungen et al. (2015), explores the idea of social media such as Facebook, Twitter to challenge Marxist opinions and principles. This paper argues about the difference in skilled labor and conventional working system or labor force regarding requirement, productivity and efficiency. According to Marxist idealism, the structure of free labor is criticized and considered less productive. The new formation of innovative technology within the industry seeks work that is more productive and is not followed by any labor union. The concept of free labor is changed assuming the new notion of skilled labor. Therefore, the economic dimensions of Marx's theory are revised with the protocol of employing new competent and efficient labor force. Third article: According to Hornborg (2014), the technological progress can be used to truncate industrial as well as economic growth. New greater effective technology replaces the early adaptations of technology and the self-evident technological progress shows a high level of development in the economies. However, regardless of all the ideological persuasions, the self-evidence of new technology adaptation also harms the environment causing negative externality. The decreasing level of oil and such products and rising level of global warming are explicitly considered as the negative externalities. Therefore, replacement of technology, as well as replacement of Marxism, is critically described and analyzed here. The adverse effects also seem to be a threat to the organization management. Fourth article: As discussed by Webster (2014), technology and innovation involves the shape and structure of the society. The book includes the transition of women labor force with the change of technology and innovation. The author encountered changes in the business structure when new technology was adopted and applied. The women labor force got accelerated through the new process as the method is less time consuming as well as needs less effort. Also, it is easier to work with less physical effort, and, therefore, women workforce can participate to the same extent. Critical analysis: The above three articles serve three different points of view considering the same concept. Marxism can be described as a process that analyzes socio-economic condition by the ideas of Karl Marx. Marxist methodology analyzes relationships among different class and conflicts in the society by many materialists and dialectical view of economic transformation. It analyzes and criticizes the capitalist views. Marxism discusses the conflict between highly efficient mechanisms and socialized techniques of productions by the proletariat and thereby considers the concept of surplus value, named as the bourgeoisie. Here from the three articles, Marx's capitalist views contradict the new notion of innovation and skilled labor force. Also, the fourth article talks about women labor involvement. The new less abstract methods of production include more population of women in the economy. D: Infill/Substitution (Labour Economic Concepts): First article: As discussed by Karabarbounis and Neiman (2013), labor force stability is considered as a critical factor for determination of macroeconomic parameters. According to the article, the global share of employment declined during the 1980's covering a large area of many countries and many industries. The report says that the lowering of the relative price of investment goods and advancement of information technology has induced a situation where firms shifted from the labor dependence to capital. A decline in the price of investment goods roughly describes the decline in labor share even when machinery mechanisms are influencing company profits, capital accumulation with the growth of technology. The implication of this labor theory highlights the macroeconomic dynamics considering macroeconomic factors. Second article: The article refers to the "task approach" to the labor market. The challenges faced by the industry concerning allocation of "tasks" among labor and capital and also among the native resident and foreign workers are briefly discussed. The structure of labor demand and employment regarding the payment affects the efficiency of employees. The presence of canonical production function draws a scenario where the assignment of skills to task is a static phenomenon. This task approach influences the technological abilities, skills and shaping aggregate demand regarding the skills (David 2013). Third article: According to the article by Han and Mithas (2013), the outsourcing of information technology is discussed. This discussion deals with the argument of internal investment in information technology industry considering the relationship between IT outsourcing and non-IT operating costs. Studies say that these two factors are negatively correlated but it does not infer complete outsourcing of IT firms. Reports suggest that reduction of non-IT operation can be more beneficial when they are having higher skilled labor in the industry as well as high levels of complementary investment in to the firm. Outsourcing can affect the profits and efficiency of the business positively, and labor demand always persists within the economy as well as the company. Fourth article: According to Leamer and Storper (2014), the internet age has conquered the geographical, economic barriers. It argues about whether the web and communication will generate the revolution in the world economy. During the 21st century, the connection among the nations has increased due to the internet and communicative improving structures. The earlier times faced problems regarding the production of new goods in terms of raw material. However, the new technology involves a lower amount of factors of production. This, in turn, seeks efficient and skilled labor force. In the 19th century, the importance of workshop and trainings were less. However, during the late 20th century, improvement in transportation and communications give rise to the growth in production. The labor force is substituted for new skilled labor from other regions, as the information is more available. Thus, the article argues the communication technology increases skilled labor force substitution. Critical analysis: The above three articles deal with the same concept of labor market providing different aspects of the idea. The labor force is considered as a major macroeconomic variable. The major three aspects are described and analyzed as well. Firstly, the task approach relates to the allocation of tasks among the factors of production i.e. labor and capital. In the last decades, skill and efficiency did not get much importance. However, during the era of information technology, the workforce is tested regarding skill. Efficient labor force is preferred and therefore substituted. The communication technology enables the people from another region to participate in the interview processes. Therefore, management is exposed to greater amount of skilled labor and this, in turn, can be taken as a threat in disguise. Conclusion: The third great wave of innovation, as well as invention, advances the information and communication technology to a vast extent. It includes machine intelligence, social structure and advanced robotics and many more (Rutkauskas and RaÄ inskaja 2013). Information technology enables the communication of different area and different regions in the world. This, in turn, causes a presence of massive labor force participating in the IT world with no geographical territory. Therefore, a huge set of people has become the worker in the vast IT world. This causes a threat to the management companies as outsourcing, also having a positive side, shows a negative approach concerning wage rate and salary structure. People from third world country are hired. Nevertheless, they are not properly exposed into a good salary structure. The exchange rate over the world is different. One dollar in the USA equals a tremendous amount of rupee in third world countries. Therefore, skilled labor from t hird world countries is hired largely. At the same time, workers are aware of the company structure, robust infrastructure, and opportunities. Therefore, they disagree to be exploited. Thus, a substantial improvement in information technology has increased the power of people to get informed about the entire world. It also causes a threat to the company management due to the reasons discussed. Pervasive digitalization and modification have brought new disruptive changes in the global economy. At the core level, there lies a point of digitally enabled generativity. This paper argues that the experts must offer new models and insights to guide the management in generating new production structure, giving emphasis to the management's modularity. References: Adolf, M., Mast, J.L. and Stehr, N., 2013. The foundations of innovation in modern societies: the displacement of concepts and knowledgeability.Mind Society,12(1), pp.11-22. Antonelli, C., 2014.The economics of innovation, new technologies and structural change. Routledge. Beverungen, Armin, Steffen Bhm, and Chris Land. 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