How does technology improve each of these A competitiveness

Solution

A. Firms are focusing on various areas to minimize the wastages and maximize their productivty or output. Technology is one of the inevitable force accepted by firms for their overall improvement. Latest technology help firms to minimize their wastages, efforts, and maximize their returns. The returns may in the form of world class product at reasonable or low cost, with best features, offered to customers. It helps the firm to get more customers, and more brand value in the market. The competitors must follow similar strategies to compete you, and it leads you parties to go with new best practices. It helps both firms and customers in many dimensions.

B. When latest technology introduces in business, usually the output and its productivity will improves. If not, firms to not go with new technology. Technolgy helps to minimise errors at work place by labor or employees, and it helps to get more productivity. It helps to generate high production at low cost and with optimum resource utilization.

Ethics are moral principles that guide individuals to do something in different ways. These are behaviroal aspects of people, with moral principles. The people who frames rules and regulations at work place, must focus on ehtical aspects also. Employees are the core assets to any firm, and their involvement is essential any strategic planning of a firm. If we follow correct code of ethics, it leads to more employee satisfaction, and helps to perform well. Following ethics at workplace, and make them as part of work culture, it helps the firm to take right decisions in right times. There are many benefits along these to business firms, and it must be followed by firms, and consider them in their strategic planning.