The Effects of Technology in Business and its Impact on Organizational Performance

Abstract

This study investigates the effects of technology in business and its impact on organizational performance in Zone 4 Imbatug, Baungon, Bukidnon. A descriptive correlational research design was employed, and data were collected from 152 respondents using a survey questionnaire. The findings revealed that technology adoption significantly enhances organizational performance across various dimensions, including profitability, innovativeness, productivity, competitiveness, and effectiveness. The study found that the majority of respondents (61.84%) were engaged in retail, and a significant portion (44.34%) had been in business for less than five years. Most respondents (78.29%) reported average monthly sales below P100,000. The assessment of technology in business revealed a high level of technology adoption in both production techniques (mean score 3.18) and logistics (mean score of 3.41), leading to an overall assessment of “Very High Technology in Business” (mean score of 3.30). The study found that the overall mean score for organizational performance was 3.35, indicating “Very Good Performance” across profitability, innovativeness, productiveness, competitiveness, and effectiveness. A robust correlation (R=0.84776) was found between technology adoption and organizational performance, with a statistically significant p-value (<0.05). The study also identifies significant differences in the impact of technology on organizational performance based on demographic profiles, particularly in terms of the type of business and average monthly sales. The findings of the study underscore the importance of technology in driving organizational success and provide insights for businesses, policymakers, and researchers to leverage technology for improved performance and competitiveness. The study also highlights the need for continuous improvement initiatives focused on enhancing profitability and productivity, and for organizations to leverage their strengths in innovativeness and competitiveness to enhance their market position further. Overall, this study contributes to the existing body of knowledge on the impact of technology on business and organizational performance, providing valuable insights for business owners to make informed decisions about technology adoption and organizational performance. The study’s findings have implications for the development of strategies to enhance technology adoption and organizational performance in the region and highlight the need for continuous improvement to drive business success.