Question

Organisations all over the world are under increasing pressure to adapt to a rapidly changing environment – one in which technology is the new currency and innovation is a major driver of business success. Some would like to believe that the promised upheavals associated with massive technological change are still some way off. However, the future is already here. Encroaching automation, Artificial Intelligence (AI), the Internet of Things (IoT) and other innovations are changing the business landscape, both in South Africa and in the markets with which it does business. There is no time to wait to become technologically savvy, using innovation to craft new competitive advantages. Waiting will simply increase an organisation’s chances of becoming irrelevant in the foreseeable future. Explain the impact of the above excerpt on the flow of information within the business environment. (20)​

Answer 1

The excerpt highlights the need for organizations to adapt to a rapidly changing environment that is heavily influenced by technology and innovation. This has significant implications for the flow of information within the business environment.

Firstly, the rapid pace of technological change means that organizations must quickly access and analyze information to make informed decisions. They must have efficient information systems that can collect, process, and disseminate information in real-time.

Secondly, the rise of automation, AI, and, IoT has caused an explosion of data, which organizations must effectively manage and understand. This requires organizations to have sophisticated data analytics tools that can turn raw data into actionable insights.

Thirdly, the increasing importance of innovation means that organizations must foster a culture of collaboration and idea sharing to sustain competitiveness. This requires an open and transparent flow of information within the organization, with employees encouraged to share their ideas and insights freely.

Overall, the impact of the excerpt on the flow of information within the business environment is that organizations must quickly and effectively access, analyze, and share information to compete in a rapidly changing landscape dominated by technology and innovation.

Step-by-step explanation: