6 Things Every Entrepreneur Should Know About Technology
Many leaders think that technology is just an accoutrement that can help their employees perform better at work. But this kind of naïve belief can be very dangerous for the companies they lead. A research by MIT reveals that companies who have leadership promoting new technology earn 26% more profits First, entrepreneurs should realize that we are in the midst of a Technological Revolution that’s comparable to the Industrial Revolution. Successful companies don’t only focus on efficiency and productivity gains through advancements in technology, they transform their business operations using it. Second, leaders must recognize that a silent generation gap between younger and older employees exists. Digital natives (those under 35) are doing virtually more work as compared to their older counterparts because they grew up with technology and know exactly how to make use of it. This understanding by the company’s leadership is necessary to learn about how the younger employees are working, allowing them to work in most creative ways possible. Third, resistance to change is a management issue that leaders should look into. Usually the older employees show reluctance to technological advances. Whether it’s the introduction of a new production line or simply a Windows update on office desktops, some employers would just not accept the change. This is apparently due to the misconception that their productivity will fall while they learn to do what they have been doing in a completely new way. Entrepreneurs should foster this attitude that everyone should benefit from the emerging technologies. Fourth, your office equipment doesn’t need to upgrade as soon as it hits the market. At many times, there is a just a minor tweak, a strategy used by tech industry to rebrand their existing product as something new. If you ever want to spend something extra on the company desktops, tablets or smartphones, make sure you know how it will change the productivity of your workplace. Fifth, monitoring is not a phenomenon that is confined to over-the-head managers anymore. Entrepreneurs can save a big chunk of their capital by investing into other forms of monitoring like remote smartphone monitoring software, which are not only reliable but also very effective. Sixth, communicate with your employees not just through emails also but through face-to-face meetings. Try having a lunch with them or take them out for a holiday picnic. Be a proactive manager yourself!
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