Report Sample: Technology and Management Improvement for Third Star Financing

Paper Type:  Report
Pages:  4
Wordcount:  895 Words
Date:  2023-10-21

As the business world changes each day in the new technology era, so does the technology and the management systems. Therefore, businesses need to advance with the current technology trends and also correlatively improve their management processes to effectively run and reach their goals. This paper therefore, outlines some of the recommendations on technology and management improvement for Third Star Financing. The effects of the recommended technology and management improved besides the ethical and compliance implications are also identified.

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Adoption of Enterprise Data Management (EMD) requires use of different technologies for efficiency in the company operations. Among the technologies I recommend acquisition and improvement of cloud computing alongside artificial intelligence. The organization may have enterprise clouds that are limited to the single firm. Cloud computing avails on-demand computer system resources mainly data storage and information processes without direct management by the user (Marston et al, 2011). According to Rochwerger et al. (2009), software systems that involve multiple cloud components that communicate with each other are utilized to deliver cloud computing. Cloud computing will allow the organization to have faster running of their applications, minimize up-front IT infrastructure costs, improve manageability and reduce maintenance. Besides, it will allow for rapid adjusting of resources to meet fluctuating and unexpected demands especially when faced with problems in the decision making process (Marston et al. 2011). Since cloud computing makes available high- capacity networks, low-cost computers, and storage devices, its use in Third Star will be beneficial and create more value for the firm leading to achievement of company goals (Bruneo et al, 2013). On the negative side, cloud computing poses privacy concerns as the service provider has access to data and information stored in the cloud any time which could lead to altering, leakage or deletion of information (Rochwerger at al. 2009). Encryption of data that is stored in the cloud through the security systems is important to prevent unauthorized access.

Artificial Intelligence (AI) is also a technology that can be utilized in Third Star and it involves a machine perceiving its environment and taking actions that will maximize chances of achieving its goals. The machines mimic human cognitive functions including learning and problem-solving (Winograd and Terry, 1972). Systems are able to correctly interpret external data, learn from the data and adapt what is learnt to achieve specific goals and tasks. AI helps in reasoning, problem solving, knowledge representation, planning, natural language processing (Winograd and Terry, 1972), perception and manipulation. However, the cognitive capabilities are limited requiring only simplified version of intelligence (Lieto and Antonio, 2018). Also, the technology will lead to massive loss of jobs for a number of employees. Adding to its disadvantages, there is devaluation of humanity as AI applications cannot simulate human empathy which may negatively affect customer service. Machines with intelligence should be able to prevent harm and minimize risks through ethical reasoning through policy making. Artificial moral agents and machines ethics will help minimize the ethical dilemmas associated with the recommended technologies (Kaplan et al. 2019).

Among the different improvements that can be on the management systems in Third Star Management Information Systems (MIS) may be an important breakthrough. MIS is an information system which is utilized in decision-making, and the control, coordination and analysis of information in an organization (Laudan and Jonas, 2019. Its use is important in increasing value and revenues for a business as managers are provided with timely and appropriate information which allows them to make effective decisions in a short period of time. Software is involved to facilitate the flow of information between business function within the internal environment of the organization and manage connections with external business environment. However, among its limitations, MIS is dependent on technology hardware and software for retrieval and dissemination. Also there is potential for inaccurate information.


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