Management of Technology Essay Example | Topics and Well Written Essays - 2500 words

Management of Technology - Essay Example One of the most pressing issues that Carnegie faces as an international firm is the issue with currency. Carnegie has been impacted by foreign currency fluctuations and interest rate changes. This has created a situation where international firms like Carnegie have to be very cautious financially. Tracking certain economic factors is also important during the development of your plan. A variable such as determining the optimal deployment date of a very expensive advertising campaign is critical. By tracking the economic status of the market you intend to do business, you are able more accurately predict consumer response. The following are some of the most commonly tracked economic indicators and what they measure: Gross Domestic Product (GDP) is the total market value of all goods and services produced within a country during a given period of time, usually one year. Consumer Price Index (CPI) is an index that measures changes in the price of a basket of typical consumer goods. Society shapes our beliefs, values, and norms. People absorb, almost unconsciously, a worldview that defines their relationships to themselves, to others, to organizations, to society, to nature, and to the universe. Carnegie offers a very Marxian approach to the matter: the necessity for people to collaborate together as a group and face and subsequently confront the problems of class inequalities which are determined around the composition of the relations of power which consistently underplay the importance of the sense of justice in the society has certainly not decreased. Political: The political and legal environment is composed of laws, government agencies, and special interest groups that strongly influence the risks associated with marketing decisions. The main issue Carnegie has had to content with revolves around labor malpractice allegations. Carnegie has been involved in many lawsuits that also threaten its reputation; however, it has not been indicted in any of these said lawsuits. Technological: Technology is so important to Carnegie that they incorporated it into their mission statement. In the mission statement, technology is inferred in the word "innovation". To foster this innovation the company pours enormous sums of money into research and development to keep Carnegie on the cutting edge; symptomatic of an entrenched belief within itself that "As human potential evolves, so must our products, we must be committed to the very best performance product. Products of pure imagination, products that move the needle of performance, and products that help us be the athletes we know we are." (Carnegie Corporation, 2009) Ecological: Having an ecological awareness has