Executive Summary
Automating processes within the clientele and employee approach optimally impacts the operational outline among the distinctive entities. Successful enterprises constantly invest and innovate in technology R & D around customer needs and market development trends. The behavior and efficiency of enterprise technological innovation are essential to the development of enterprises. The monopoly brought by innovative achievements to enterprises in a certain period will enable enterprises to obtain excess profits and form competitive barriers to competitors. Enterprises gradually recognize the importance of technological innovation. Enterprises in various countries increase research and development investments and strive to attain patented technologies.
Introduction
Technology is one of the vital factors elevating the growth and development of business practice locally and globally. The innovative facet within the spectrum poses an optimal impact based on the intersectionality of enterprise processes. In this case, there is scarce value based on the element of its adept exploitation to intensify the productive and efficacy scale. The lack of aspects that improve competitiveness (Haseeb et al., 2019). The automation of processes within the clientele and employee approach optimally impacts the operational outline among the distinctive entities. Successful enterprises continually invest and innovate in technology R & D around customer needs and market development trends. The behavior and efficiency of enterprise technological innovation are essential to the development of enterprises. The monopoly brought by innovative achievements to enterprises in a certain period will enable enterprises to obtain excess profits and form competitive barriers to competitors. Enterprises gradually recognize the importance of technological innovation. Enterprises in various countries increase research and development investments and strive to attain patented technologies. Tesla, Apple, and AstraZeneca rely on patented technology to make significant profits internationally.
With the increase of enterprise R & D investment, the behavior and efficiency of enterprise technological innovation have become an important content of enterprise management. Enterprises always hope to obtain high-quality technical advantages while paying reasonable costs. As a new function of constructing enterprise production conditions and production factors, enterprise innovation will be affected by the arrangement of the enterprise management system. Corporate governance is a process in which enterprises manage and arrange the interests of owners and management (Haseeb et al., 2019). It will affect the daily operation of enterprises and affect the efficiency and effect of enterprise resource investment. The interdependence between business and technology is a dynamic aspect promoting the evolutionary process. The core mandate among the entrepreneurs involves developing strategic management initiatives elevating the identification of niches, market position acquisition, and customer satisfaction. Notably, the practice further depends on the intersectionality of the components with external and internal governance structures.
Research Objectives
- To investigate the relationship between technology efficacy and internal corporate governance.
- To demonstrate the effectiveness quotient of technological resources to business competence.
- To establish core interdependent variables enhancing productivity and enterprise competence.
Research Significance
In the current theoretical research, most scholars take the internal governance structure of the company as a single research perspective. This paper plans to include the external governance environment in the study on the impact of enterprise technological innovation behavior and innovation efficiency based on the internal governance structure. There is a significant interdependent relationship between the external governance environment, enterprise market performance, and proficiency in business innovation. This research project is further enriching the relevant theoretical study.
Technology is the fastest-changing factor in the business environment of enterprises, and it is also an essential basis for enterprises to obtain a competitive advantage. Modern enterprises regard technological innovation as a fundamental driving force for enterprise development. The results of scientific and technical R & D and investment have become crucial for enterprises. Improving the effectiveness of enterprise innovation activities may directly affect enterprises’ competitive position and profitability, related to the long-term sustainable development of enterprises.
Literature Review
Internal Control System
The internal control system (ICS) is a formative structure for a company providing in-depth guidelines based on human and technological resource management. According to research, the key aspects that influence business performance enshrine compensation scale, technological resources, human resources, competitive advantages, and profitability (Akhmetshin et al., 2018). The executive’s mandate is to establish key initiatives that improve productivity and establish a functional organizational culture. Although management focuses on the core essence of decision-making, it is vital to integrate the external and internal variables in a business environment. Corporate governance across the internal and external structures prominently influences the firm’s performance quotient mainly because of the influence on the coordination of all entities.
Impact of Internal and External Governance Structure
Cultural diversity is one of the phenomena that highly influences the effectiveness among employees in service delivery. The interdependent relationship between employees’ performance and an organization’s value fosters interaction among the personnel. Therefore, it is the responsibility of the management to ensure the implementation of effective strategies that enhance teamwork activities. People as a component contributing to corporate culture enshrines the different stakeholders that impact customer service and the strategic management initiative (Sim, 2020). The various groupings include investors, business owners, government, employees, and clients in this case. The different sects play a vital role in the promotion of cultural diversity. This is an excellent example of an entity whose success relies on the effort among all stakeholders in the Disney and Pixar merger. On the one hand, Pixar focused on market scope expansion. On the other hand, Disney targeted the essence of product diversification. As a result, the merger rendered interdependence while boosting the interconnectedness among the personnel.
The significance of multicultural diversity entails fostering harmony in coexistence among individuals from different ethnicities. It is an approach that renders proficiency in boosting the social identity and appreciating the ideal constructs based on moral and ethical codes of behavior. The primary duty of all personnel enshrines assessing the cultural background and understanding the power dynamics without establishing either a superiority or inferiority complex (Sim, 2020). Racism is one of the issues threatening peace and harmony among communities within American society. Therefore, all stakeholders must integrate the frameworks with significant elements such as capitalism and organizational culture to ensure the equal distribution of resources and privileges like job promotions.
It is crucial to learn and comprehend the dynamism of cultural practices to acquire insights based on the best approaches to utilize during interactions. According to Miller and Garran (2017), racism is a topic that faces significant controversies across different institutions in America. An excellent example is establishing a task force within an organization that trains the staff regarding multicultural diversity and the necessary interaction techniques. Miller and Garran (2017) depict that ethnicity contributes to social identity development. Therefore, the violation of the cultural code of an individual affects their service experience with the company. In this case, it is crucial that staff members, despite recognizing other challenges such as ableism, heterosexism, and sexism, it is vital that the personnel implement the practical aspect of the critical race theory. Although racism is a factor rendering the inequitable distribution of resources and privileges, the core element to enhance is the deep understanding of multicultural diversity and its significance.
Another component that highly impacts corporate culture development is the place, mainly because of the dynamic cultural values. The conceptual framework in place regards the dynamic factor of market performance and acquisition and the efficient teamwork environment for the employees. An excellent example of a contrast in the contribution of place encompasses the mergers of AOL/Time Warner and Disney/Pixar. Although AOL significantly invested in acquiring Time Warner, the management failed to establish effective governing policies to facilitate the transition and exchange of cultural values among the employees (Birkinbine, 2017). As a result, the merger and acquisition encountered the challenge of promoting multicultural diversity compared to the efficient transition between Disney and Pixar. Ideally, the marginal difference between AOL/Time Warner and Disney/Pixar lies in product diversification and strategic marketing with an established lane on the performance outlier.
Diversity across cultures is a phenomenon that threatens the ideal approach to handling interactions among Americans. On the one hand, dynamism in cultural practices enhances an optimal interaction and exchange of information that enhances the appreciation of the global population and the demographics. On the other hand, the evolution of human society fostered the influence of institutional systems and constitutional frameworks that promote capitalism. As a result, a significant percentage of individuals from certain ethnicities attain superiority based on wealth accumulation over other races. In research, Johnson (2020) argues that despite the measures to curb racism, the figures show the contradiction based on the inequitable distribution of resources. On the one hand, the researcher depicts that the ratio between whites, African Americans, and Latinos will eventually decrease. The marginalization of racial groups based on superiority and inferiority rendered the emergence of the critical race theory that addresses perspectives to alleviate discriminatory practices based on ethnic diversity within the mergers.
The completion of successful socialization depends on the establishment of effective governing policies. Relationship-building within an organization depends on customs and norms. Different companies uphold dynamic aspects in the production and networking processes. In this case, completing the socialization process encompasses establishing social identity based on the dynamic platform within the merger organization (Johnson, 2020). Therefore, the learning process of socialization involves comprehending the dynamic customs, norms, and values that contribute to the company’s competitive advantage. An excellent example of socialization is establishing cultural values within the Disney and Pixar merger company, the core approach of enhancing young adults’ entertainment.
Merger and acquisition refer to combining two companies to enhance competence in the marketplace. A significant percentage of companies that take the position of substitutes qualify for merger and acquisitions mainly because of the profound value added to competitive advantages. Although a merger and acquisition elevate the importance and competence, it is an initiative that attributes difficulty in the management due to the dynamic corporate cultural values (Lotfullina & Polyakova, 2020). Different companies uphold different cultural practices and ideologies. As a result, mergers and acquisitions threaten acculturation and compromise the organization’s value to the clients. In this case, it is crucial to enhance the participation of both parties to foster an effective transition through the exchange of superior customs, such as teamwork policies.
It is essential to enhance the participation of both companies in a merger and acquisition mainly because of the essence of the exchange of crucial information. On the one hand, AOL invested in a merger and acquisition with Time Warner to articulate its dominance in the media industry hence resulting in the failure (Birkinbine, 2017). On the other hand, Disney focused on investing in the merger and acquisition with Pixar while enhancing employee benchmarking to enhance cultural values. It is a practice that elevated the success rate in the transition and market acquisition in the entertainment industry.
Impact of Technology on Business Competence
Different issues contribute to the board of directors’ failure, hence the importance of incorporating strategic management. One of the challenges is the lack of an incentive to optimally assess the spectral overview of the CEO’s compensation scale. It is essential to integrate initiatives enhancing competence. Business capacity involves the intersection of distinct variables, such as the perceptive aspect of investors’ return on investment. A disparate advance attributing to the botch across the executive team is outbound accountabilities from other practices. The division of attention contributes to the assumption of the relationship between the chief executive officer’s justification of salary range (Baker et al., 2019). The lack of adequate skills and knowledge on the utilization of internal control systems primarily hinders the realization of financial consequences for the CEO’s remuneration.
Significant variables contribute to the functionality of the internal control system in a company. Organizational culture plays a proficient role in capacity building among the relevant stakeholders in a corporation. It is the responsibility of an ICS to detect fraudulent activities, and foster insight into financial information, and the accountability scale on asset security. Various outliers that influence the impact on personality encompass operational, technical, administrative, and architectural. Researchers indicate that the optimal realization of the significant weaknesses includes regular inspections, risk assessment, cataloging procedures, educating the executive team, and evaluating the inherent reports. One of the examples of firms that collapsed due to a lack of board of directors’ initiative to implement the relevant controls proficiently. Enid is another institution whose risk is intensified based on the exposure to database corruption, hence the bank’s fraudulence (Baker et al., 2019). In a different spectrum, the compromise of Equifax’s digital catalog showed the prominent fragility of the structure. Sustainable financing is an entity within the ICS construct that provides a profound opportunity for competency.
Over the decades, business competence intensified due to technological advancement, thus the prominent adoption of initiatives to enhance the acquisition of a leading market position. One of the approaches to improving an institution’s expertise involves boosting the skills and capacity of the employees and developing a functional organizational culture (Baum, 2018). I believe in elevating an employee’s prowess as an empowerment tool to increase the performance baseline. The primary function of a company’s mores entails steering the nature of interaction among the workers. The interdependent relationship between the enterprise’s values and the laborer’s dexter primarily fosters proficiency in a firm’s adeptness to achieve significant financial and product development goals.
The main aim of incorporating technology in business encompasses boosting innovation across the practice spectrum. Chin and Semadeni (2017) articulate that technological advancement fostered the intensification of business competence due to consumers’ optimal accessibility of information. The concept enhanced the purchaser’s contribution to the decision-making based on product knowledge. As a result, companies adopted the dynamic strategy of improving the customer service experience through the interaction between workers and clients. The endowment of expertise among the laborers demands the modification of the policies to enhance the actualization process of the framework within an institution. An excellent example of a mainframe entails a profound communication structure outline that indicates proficiency in the flow of information. Optimal sharing of details across the change initiative enhances the derivation of practical results from the engagement, such as improving the performance outlier among the laborers.
Clinical research offers information crucial in directing the use of nursing models and frameworks. The internal and external evidence integrates individual expertise and the best possible empirical evidence related to treatment options. In this regard, healthcare knowledge and data depend on health staff experiences and scholarly work, which address different approaches to care and operations (Chen et al., 2017). Both forms of evidence serve as the fundamental basis of medical decisions, as they contribute to developing clinical reference models that outline detailed procedures for approaching treatment. Consequently, the evidence is vital in enhancing patient-centered outcomes, as it facilitates improved healthcare delivery and results by creating approaches guided by the patient, health personnel, and society. Ideally, internal and external evidence enhance the quality of care disseminated by health facilities, as procedures are based on the information that is co-investigated by both patients and families in partnership with healthcare practitioners.
Internal and external evidence forms are essential in improving quality patient outcomes and clinical practice. The information obtained from research is crucial in supporting the ways organizations approach change, as it enhances leadership strategies and multidisciplinary team interactions, thus augmenting patient experiences in the long run. Besides, scholarly works produce information that aims to improve nursing models and frameworks. The data collected from stakeholders, that is, patients, families, health scientists, and society as a whole, allows the evolution of medical procedures and improvement of care dissemination. Therefore, healthcare institutions should encourage the use of both external and internal evidence, as both forms support quality improvement. Big data plays a significant role in healthcare mainly because of the provision of a multifaceted platform. Chen et al. (2017) indicate that big data contributes to predicting diseases from different regions based on the available information. Incomplete information leads to preliminary analysis using big data. It is essential to foster proper data management to render an optimal provision of healthcare services.
Big data in healthcare is a tool that contributes to boosting the quality-of-service provision to patients. According to Dash et al. (2019), big data is utility in the healthcare sector once effective management and analytic structure decode the appropriate information. This study profoundly contributes by providing insight into the effective management of big data in healthcare for optimal use. In a different spectrum, big data analytics’ effectiveness engulfs the utilization of advanced technological tools and systems. Harerimana et al. (2018) depict that the efficient use of technological tools to enhance big data analytics empowers healthcare institutions with advanced practical and theoretical knowledge about diseases and treatments. The study is a resource mainly because of providing insight into the dynamic use of technological resources for big data analytics. Big data analysis enhances the generation of hypotheses without measuring relationships or assumptions. Lee and Yoon (2017) realize that big data analytics attribute treatments based on previous cumulative reactions and solutions. Ideally, the use of big data in healthcare empowers practitioners with adequate information about treatment plans and healthcare management approaches.
Healthcare provision is an essential element for all individuals globally. However, Nam et al. (2018) establish that Koreans seek high-quality healthcare services to reduce expenses and boost their health index. Therefore, the government aims to promote big data analytics to equip medical practitioners with adequate knowledge to improve healthcare service quality. There is a profound relationship between big data analytics and the types of treatment strategies. Patient-centric treatment depends on the effectiveness of analyzing big data. The analysis equips medical practitioners with adequate knowledge for treatment prescriptions. The research study offers an in-depth insight into the contribution of big data analytics to healthcare treatments. Effective treatment encompasses utilizing the available expertise to foster a better management strategy among diverse patients.
Incorporating information and communication technology in the healthcare department presents a dynamic interaction between professionals and patients. On the one hand, the technology boosts the level of interactions despite the location of the individuals. An excellent example is implementing a healthcare plan that focuses on enhancing home-based care. Over the decades, home-based care has proved necessary for most patients to reduce the congestion and costs of treatment. Further, the patients interact with their relatives during the treatment. However, it proved a challenge without using technology, mainly because of the frequent communication necessary for treatments with healthcare professionals’ consultations. Technology positively influences interprofessional relationships in a different spectrum while enhancing a profound loophole in communication flow (Soubhi, 2017). In my field of profession, one of the significant challenges that involve interprofessional collaboration involves the fragmentation of the working progress. Although technology promotes an advanced level of patient care, it is an element that interferes with cross-industry relationships through fragmentation of the working progress.
Growth is progressive; hence change is inevitable. Over the decades, the healthcare sector faced profound evolution, especially with technological advancement. Incorporating technology in the healthcare sector fostered dynamic change in operations. As a result, the change forces the workers to adapt to the new norm of utilizing digital resources such as patient records and the administration of medical treatments using technology. Although the healthcare workers get challenged by the evolving operability, the frontline workers face a more significant challenge as the administrators in the institution. In a research study by Le et al. (2018), the researchers discovered that frontline workers face a profound challenge in determining their roles and responsibilities in the healthcare sector. One of the findings involved the significant roles of frontline workers. These roles include allocation of resources, advocacy of change, diffusion of information, training and development of employees, supervision, and liaison. The profound functions enable the frontline workers to focus on enhancing the smooth running and management of the employees’ welfare, especially in gearing for change. The administration spearheads effective change management by developing specific strategies based on the critical roles of frontline workers.
A practical and frontline worker utilizes effective skills and knowledge to gear change in a healthcare institution. One of the skills involves technical competencies such as familiarity with the technology in the institution. In most cases, workers face difficulties, especially in utilizing technological resources. Therefore, the frontline worker assists the workers in using technical support to enhance the optimal delivery of services to patients, especially in the emergency medical service unit. Fundamentally, the frontline worker displays practical communication skills mainly because of the mediatory role between the management and the healthcare workers (Le et al., 2018). The frontline workers directly interact with the employees to establish the significant challenges they encounter during the delivery of services in the EMS unit and then communicate the solutions to the management for decision-making. Therefore, it is vital that the frontline manager effectively communicate the strategies and solutions regarding the challenges faced in the healthcare institution.
Healthcare workers encounter dynamic problems while providing care to patients. In this case, the frontline workers must demonstrate practical problem-solving skills mainly because of their critical role in assisting the employees during service delivery. Primarily, healthcare is a service industry that deals primarily in providing patient care services hence the necessity for the frontline managers to possess efficient problem-solving, effective communication, and technical competencies.
Technology is vital in boosting the healthcare service delivery system, mainly because of integrating dynamic processes. However, the organizational change fell short of the crucial factor encompassing all stakeholders’ involvement in the process over the decades. During patient care, different healthcare professionals engage the patient for effective treatment. In this case, most professionals use technology to interact and determine the fundamental approaches for treatment and follow-up. Nevertheless, the technology incorporation disorients the professionals based on physical contact and the roles and responsibilities of the individuals. On the one hand, it is the responsibility of the professionals to familiarise themselves with the technology. On the other hand, healthcare professionals utilize substantial time to learn technological use, hence derailing to catch up with the other team. As a result, the communication flow becomes ineffective due to the lack of participation of all stakeholders. The fragmentation of the working progress fosters inefficient healthcare service delivery, contrary to the objective of technological use in medicine and pharmacy (Soubhi, 2017). The working progress fragmentation solution enshrines the intense use of interactive interprofessional programs that encompass training in the nursing practice.
Research Methodology
This project plans to use the methods of literature review and empirical analysis to study the relationship between the elements of the research project. Firstly, this paper will use the literature review method to sort out and analyze the views and research conclusions of previous scholars and find the opinions on the definition of relevant concepts in the research project and the relationship between elements in the existing research theory, which will be used as the basis for the follow-up research of the project. At the same time, through literature review, researchers can find new research directions based on understanding the research context of relevant fields. The literature review will also serve as the theoretical basis for this research project’s hypothesis and empirical research design.
Conclusion and Recommendation
Technological innovation is an essential factor in boosting business performance and productivity. It is the responsibility of key stakeholders to coordinate the training and incorporation process of the resource to facilitate the outcome. Since the emergence of social media, a significant percentage of consumers shifted their preferential purchasing baseline towards the essence of product information and service experience. Therefore, it is vital to integrate key initiatives that elevate the interdependence among the entities. It is recommended that enterprises optimally utilize technology to promote the performance and development of competitive advantages.
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