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Business Plan Essay

1226 words - 5 pages

The first impact is that technological change can help our company to increase its productivity. For example if we had a machine that was producing ten thousand cans of our product per hour, then we get an advanced machine that can produce the same product at a speed of twenty thousand cans per hour , then the technological change will have helped us to increase our productivity within a short period. This increase in productivity will lead to us achieving our goal in the estimated five year period due to increase in sales.
Technological changes will also reduce the expenditure of the company, hence increasing the net present value. This will be because technological change will lead to our ...view middle of the document...

Adelphia Communications Corporation is a manufacturing company that was charged with fraud. This company was ranked fifth among the cable manufacturing companies in the United States of America, until it was charged with bankruptcy in the year 2002. This was as a result of internal corruption. The company had incurred $2.3 billion in debts, and the management of the company was charged with violation of securities. This internal corruption can lead to the collapse of the company because the people who will be administering the company will not be appropriate, and they will not be carrying out the strategies as planned, and that could lead to the company not achieving its goals. This problem can be solved by stakeholders passing laws for the company to limit the management from making decisions unless they are approved by the board of stakeholders (Porter & Kramer, 2002).
Improving the company and preventing this problem can lead the company to achieving its goals. In our case of Durango Manufacturing Company, these improvements can help the company to achieve the 10% revenue goal in the next five years. Every company should be focused in increasing its productivity by reducing challenges which could lead to the company not achieving its goals.
IT is necessary in every company so as to reduce the risk of fraud in the company. Technology takes into consideration the amount of money that has been withdrawn from the company, and also the amount of money that has gotten into the company’s account. This can reduce fraud because there will be records of all transactions that have taken place in the company for a certain period. Technology consists of CCTV cameras and even computers. For example, fraud in a company can be minimized by connecting the office computers so that if transactions are made through one computer, they reflect in the other computers. This can help reduce fraud because a person can be noted if he tries to commit fraud in the company because the records can be retrieved from several computers in the computer (Katzenbach & Smith, 1993).
Many companies are using technology to reduce fraud because some computerized security machines need verification from several people in the management. This can reduce fraud in the company because a transaction which has passed by several people in the management means that it is an appropriate transaction. Durango can install audit software so that they can detect fraud whenever they run it in any computer in the company. This step can make the personnel in the management to be afraid of being involved ion fraud because...

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