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Relevance & Challenges of Technology
Relevance & Challenges of Technology
Module
Strategic Business Leadership (SBL)
126 Documents
Students shared 126 documents in this course
Academic year: 2024/2025
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Relevance of Technology and Data Analysis to Board, Management, and Employees
- Board of Directors:
- Strategic Insight and Decision-Making: Technology and data analysis provide the board with comprehensive insights into market trends, financial performance, and risk factors. This enables the board to make informed, strategic decisions that align with the organization’s long-term goals.
- Governance and Compliance: Advanced data management systems help ensure regulatory compliance and governance. Technology facilitates transparency, accountability, and the ability to monitor adherence to legal and ethical standards, mitigating potential risks.
- Management:
- Operational Efficiency: Technology automates routine tasks and streamlines processes, leading to increased operational efficiency. Data analysis identifies inefficiencies, allowing managers to implement improvements and optimize resource allocation.
- Performance Tracking and Strategic Planning: Managers use data analytics to track key performance indicators (KPIs) and measure progress against strategic objectives. This aids in adjusting plans and strategies in real-time to ensure the organization remains on track.
- Employees:
- Skill Development and Career Growth: Exposure to new technologies and data analysis tools necessitates ongoing learning and upskilling. Employees gain valuable skills that enhance their career prospects and contribute to a culture of innovation and continuous improvement.
- Enhanced Work Environment: Technology facilitates better communication and collaboration, especially in remote or hybrid work settings. It also automates mundane tasks, allowing employees to focus on more meaningful, engaging work, which can boost job satisfaction and morale.
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Relevance & Challenges of Technology
Module: Strategic Business Leadership (SBL)
126 Documents
Students shared 126 documents in this course
University: Association of Chartered Certified Accountants
Was this document helpful?
Relevance of Technology and Data Analysis to Board, Management, and Employees
1. Board of Directors:
• Strategic Insight and Decision-Making:
Technology and data analysis provide the board with comprehensive insights into market trends,
financial performance, and risk factors. This enables the board to make informed, strategic
decisions that align with the organization’s long-term goals.
• Governance and Compliance:
Advanced data management systems help ensure regulatory compliance and governance.
Technology facilitates transparency, accountability, and the ability to monitor adherence to legal
and ethical standards, mitigating potential risks.
2. Management:
• Operational Efficiency:
Technology automates routine tasks and streamlines processes, leading to increased operational
efficiency. Data analysis identifies inefficiencies, allowing managers to implement improvements
and optimize resource allocation.
• Performance Tracking and Strategic Planning:
Managers use data analytics to track key performance indicators (KPIs) and measure progress
against strategic objectives. This aids in adjusting plans and strategies in real-time to ensure the
organization remains on track.
3. Employees:
• Skill Development and Career Growth:
Exposure to new technologies and data analysis tools necessitates ongoing learning and upskilling.
Employees gain valuable skills that enhance their career prospects and contribute to a culture of
innovation and continuous improvement.
• Enhanced Work Environment:
Technology facilitates better communication and collaboration, especially in remote or hybrid work
settings. It also automates mundane tasks, allowing employees to focus on more meaningful,
engaging work, which can boost job satisfaction and morale.
