Evaluate the advantages and disadvantages of technological change for Essay

Evaluate the advantages and disadvantages of technological change for stemma - evidence ExampleThe advantages of modern technology like time and money savings are traditional reasons for business entities as they make decisions in implementing new technology in the workplace (Jones, 2011). The nature of capitalism in the economy where there is a need to maximize profit would generally motivates business entities towards that direction (Brigham, & Ehrhardt, 2010 caravan inn & Jain, 2007). It is not hard to see the savings in money and resources accomplished by automating some break-dance of the business operations. The market is also a product of innovation and people or customers would always go for those advertised benefit of new products arising from new technology. These business decisions are however not without negative consequences. all(prenominal) employee would get replaced by machines as a result of changing technology but this could actually be adding to the rising lev els of unemployment. This may be partly the dilemma that has actually affected the United States and the United Kingdom. To cod this kind of unemployment level of above 5% when these countries are supposed to be ahead in sparing development may be partly explained by the conflict by the need for companies to be lucrative or having more revenues than impairments which can actually be done by controlling the cost of labor. However the unemployment problem may actually be a greater problem in terms of consequences of the business decisions to go for more profit and more wealth for stockholders (Correia, et al 2007 Van Horne & Wachowicz, 2008).Who will taint the products produced by these companies if people who will consume them ultimately have no purchasing power because of overlook of employment to provide them means like income to empower them? This is therefore a case of profit maximisation that could be creating a greater social problem. Not all the technology that may prom ise to lower cost will be beneficial to business in the long-run. Will