Final answer:
Computerized technology has led to more flexible work designs, better knowledge management, the ability to process vast data, and innovation reducing costs, but not to a reduction in the need for policies and procedures. Increased reliance on ICT necessitates comprehensive governance to address the complexities brought by technology in corporate operations.
Step-by-step explanation:
The key developments facilitated by computerized technology in organizations have been numerous, but not all the options listed represent these advancements. While technology has indeed provided flexibility in work design, more effective knowledge management, the ability to process large amounts of data for managers, and innovation in operations resulting in cost reduction, it has not led to a reduction in the need for concrete policies and procedures. In fact, as the reliance on technology has increased, the demand for comprehensive policies and procedures to govern its use has become more pronounced. Companies like Amazon and Apple have grown significantly due to ICT, leveraging their capabilities to create efficient operational models and manage extensive data. However, this growth has also led to increased complexity in managing corporate governance, compliance, human capital, and stakeholder relationships. The nature of bureaucracies has changed with greater emphasis on increased productivity and efficiency, as certain jobs have been substituted by automation. Yet, the presence of concrete policies is essential to navigate through the challenges and opportunities brought about by these technologically-driven changes.