ALLANA MANAGEMENT JOURNAL OF RESEARCH, PUNE - Volume 8, Issue 2 , July 2018 - December 2018

Pages: 1-2
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Impact of Disruptive Technology in Manufacturing industries
business environment

Author: Dr. Subhash Pawar, Dr. Subhash Pawar

Category: General Management

Abstract:

The acronym VUCA stands for Volatility, Uncertainty, Complexity and
Ambiguity which was coined by the US during world war I. Since then this
acronym is used in business economic scenario as well. Indian business
scenario has undergone a sea change due to the process of liberalization was
introduced by the Government of India in 1991 which can be best described by
VUCA. Post liberalization Indian firms have started practicing strategic
planning seriously. The advent of digital technology has led to disruption,
which has great impact on business environment world over and
manufacturing industries are no exception..
Strategy basically emphasizes on planning as to how use of technology helps in
increasing profitability and growth of organization which in turn helps in
creating ROI for shareholders. The optimum utilization of resources for creating
a brand and reputation in market has become norm of the day. These are
results of contribution of better strategic planning which in turn contributes
towards business prospects. Thus prior strategy planning leads business firm
achieve leadership in market. Use of Digital technology will help in innovation
and creativity. The research paper focuses on the challenges and its impact on
manufacturing industries business environment. The key Strategies to be
highlighted from the research paper is:
? Technological aid in legitimizing business.
? How versatile employee has become the need of the hour for every
organization.
? How advent of Digitization impacts manual operation practices.
? Better strategic moves like merger, acquisition, diversification etc will be
focused.
? Business friendly Government policy like deregulation, free trade policy,
labour intensive policy etc., will play positive role.

Keywords: Globalization, stakeholders, combustible, trend, digitization, strategies, multi-skilling, automation etc.