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Imagine that you have just been put in charge of assessing a feasibility of using a new technology in your business. What steps will you take to determine whether or not this is the right step for your company to take? What types of costs and benefits will you need to assess?
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In order to assess the feasibility of using a new technology in our business, first of all I need to ascertain whether the new technological implementation is useful to the company in terms of providing it strategic or competitive advantage or not. In other words, we need to know if the technology would provide some sort of competitive advantage in terms of costs or quality of production, marketing, etc. and would really give the company a strategic advantage over other competitors in the industry.
Secondly, one needs to …
