Current Technology Assessment

The Apple company manufactures different models of phones and modern technology phones. This paper explains in details the way technology is used by Apple Company and how it spreads. It also talks about the impacts of new technologies to the company and the consumers.

Identify the technology used in the business and describe the types of technology

The company uses different types of technologies in their business. Thunderbolt technology is one of the companies’ new technologies. Thunderbolt is mainly used to access information from the computer processors or PC and other peripheral devices. According to Baker, the technology gives the company great responsiveness with the high speed displaying and data transfers in the same time in each direction. It sells its products worldwide through its stores that are online thus online technology. Through the online stores, the company is able to advertise and display their products worldwide. The product is then bought by an interested and potential buyer through electronic money transfer then the product is shipped to the consumer. In addition, Apple Company sells third-party Mac and compatible products that include software application and other peripherals and accessories through its retail and online shops with digital application content through its iTunes stores.

Ways in which technology supports general business functions

According to the innovative companies, technologies such as Thunderbolt or online technology enables products and services by the companies to reach the consumers easily. Also, the technology allows both the customer and company to gain from new information and this tend to boost business functions and as the result production rates increase tremendously. Moreover, the business functioning is boosted for the data and companies products are easily advertised using modern technology and transactions also easily done making the business to function well. Accuracy when storing data by businesses is perfect because most of the files and business transactions are done online making it easier to account for them therefore enabling the business to function accordingly.

Challenges presented to management due to managing existing technology

The challenges that exist in management of existing technology by the company are experienced in Apple Company from time to time. The existing technology requires people who are well informed and skillful in handling the issues regarding new technologies and proper maintenance of company high quality technology. Also the new technology changes from time to and this requires more attention more so when it comes to marketing and advertising companies’ products and services through with the use of new technology.

Methods of addressing emerging technology

With quick introduction of extremely sophisticated computers and telecommunication services and the manufacturing of systems, there is a major shift in the use of technology by the people. Because of the trends in consumer use of new technologies, software developers are put to task to develop more friendly products which are easy to use and enable the market for the company to grow. In addition, due to the growth rate of the market and the high demand of the products, the company should improve on there product to compete with others according to demand and supply curve.

Identify areas in which technology impacts

The technology impacts mostly in supply and demand of new products in the market changing the lifestyles of people as Herman asserts. Also, in the viewing it economically, the technology by Apple Company has impacted on the social life of buyers or consumers of the end products. He also explained that, the countries economy is boosted when consumer flood to the market with the aim of securing a new technology gadget to fit in the modern world. There is creation of employment and this and emergence of new technologies and increase innovations from different companies through competition.

Four basic functions of management where new technology might be extending or introducing new functions for management

Planning is one of the basic functions of companies’ management whereby the new technology is to be observed and a strategic marketing plan is laid down before any move or action is taken concerning the introduction of new technologies in the market. The second basic function of companies’ management is leadership whereby the new company is controlled by management and critical decisions are left for the companies’ leadership to handle. Organization in the company with emerging new technologies is very vital and one of the basic function of management. They therefore organize and maintain the companies’ trends in production and innovations. Lastly, monitoring of companies income and growth is also a basic function of management.