Predictability of Technological Change and Its Implications for Organizational Adaptation
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Predictability of Technological Change and Its Implications for Organizational Adaptation
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Conceptual Examination of Technological Predictability in Organizational Contexts
Technology is predictable. Drucker's claim is based on the notion that technology is not as unpredictable as many individuals visualize. He offers instances of organizations that were unable to keep up with technological advances, including JCPenney and Sears, and claims that their abandonment was attributable to a lack of grasp of technology's predictability (Drucker, 1969). Drucker also claims that organizations that have been successful in catching up with technological advances, including Amazon and Netflix, have succeeded in doing so since they understand technology's predictability. Drucker's reasoning revolves around the assumption that technological advancement adopts a predictable pattern. He contends that any new technology develops in three stages, namely early, middle, and late (Drucker, 1969). A new technology is created and released in the early stage. The technology is polished and enhanced at the middle stage. In the last stage, the technology is extensively adopted and employed in various ways.
Strategic Implications of Technological Life Cycle Awareness for Business Performance
According to Drucker, identifying the stage of advancement of a given technology is critical to understanding its predictability. He claims that many businesses struggle to keep up with technological advances since they do not grasp the stage of growth that a specific technology is in (Drucker, 1969). For instance, he claims that JCPenney and Sears were unable to keep up with technological developments since they did not realize the Internet was in its early stages of growth. They believed the Internet was in its late stages of growth and failed to invest adequately. Blockbuster did not replace Netflix because Netflix adopted advancements in technology and altered the way people consume TV shows and movies (Tomar, 2021). Management as a Liberal Art focuses on developing individuals wholly, their skills and abilities, their integrity, character, and consideration of other people’s interests first. It is all about considering people as the subject of the work and not only the work object (Singleton, 2020). Management as a Liberal Art changes forecast and demand planning when people are empowered holistically in terms of their skills and profession in line with the desired outcomes.