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What factors may limit the use of modern technology in business?

List factors that may limit the use of modern technology in business.

Answers

Maurice
(i)Insufficient capital / high cost of acquiring and maintaining new technology.
(ii)Some technologies are advancing very fast requiring continous updating which is expensive.
(iii)Adoption of new technology may lead to lay-off / increase in unemployment problems
(iv)New technology require hiring new staff or retraining them which is expensive.
(v)New technology increases cost of goods in the short-run.
(vi)It increases prices of goods thus discouraging potential customers.
(vii)Some technologies have side-effects e.g computers affects the eyesight.
(viii)Breakdown of some machines may lead to losses or interruption of business operation
(ix)Some technology may lead to environmental degradation e.g disposal of waste, which calls for measures which is expensive.
maurice.mutuku answered the question on August 12, 2017 at 06:14

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