Understanding Emerging Technologies

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Table of Contents

Introduction
Historical Background, development and Growth of Emerging Technologies
Vision and Mission Statement
SWOT analysis
PEST analysis
Porter’s analysis
Conclusion

Introduction

Over the past 13 years, Emerging Technologies (ET) has diversified deployment of voice recognition applications in order to meet the demands of many users. For instance, it has managed to come up with voice-enabled solutions that enable people to communicate regardless of difference in language and accent. The voice recognition software enables the clients of ET access their bank accounts, make transactions, book flights, and access business information. With the voice recognition software, callers also manage to communicate via emails and get in touch with voice portals at any time and place.

Historical Background, development and Growth of Emerging Technologies

Emerging Technologies was introduced by Mr. Saeed Al-Romaithi in 2001. The main aim of its introduction was to develop voice recognition software that could aid in communication and business transactions in United Arab Emirates. Sassine Mazraani, its current CEO, joined it in late 2003. He is the one that outlined the main benefit of Interactive Voice Response, a product of ET. According to him, majority of the people preferred using automated Interactive Voice Response to traditional IVR.

Vision and Mission Statement

Vision for the future

Emerging Technologies’ vision statement is to be recognized as one of the best company in the world in terms of providing quality and human oriented voice recognition services.

Mission Statement

Business- to provide an automated human support system that process information in Arabic, English, and Hindi.
Operation- to reduce the time spent in handling calls and inquiries in order to minimize working costs.
Customer- to provide a 24 hour service of unique support to its customers.
Business- to differentiate the main goals of the company from the competition. Also to increase company productivity.

Emerging Technologies Current strategies

Today, ET pays much attention to two essential things namely expansion of the use of Interactive Voice Response system and automated parts that serve customers. Having invested immensely in setting up call centers in terms of finance and time, ET is currently, focusing on becoming one of the most preferred companies in terms of providing solutions pertaining voice recognition. It also seeks to spread out its operation to the Middle East and North Africa.

Many types of tools can be used to analyze the roles played by ET. For instance, SWOT analysis mainly focuses on internal aspects of a company. That is the threats, opportunities, weaknesses, and strengths of the working strategies of a given company. Although business organizations such as ET do not need to overcome all their weaknesses, it is crucial for them to maintain their strengths.

SWOT analysis

Strengths

Emerging Technologies was the first company in UAE to develop voice recognition software that aided in business transactions. Additionally, it has the most talented and experienced employees in UAE. High professionalism of its employees contributes immensely to its success in terms of delivering quality voice applications. It has also managed to diversify the use of IVR and automated customer parts in UAE.

Weaknesses

Besides its exceptional strengths, ET has numerous weaknesses that include the inability to meet the demands of many customers and high price of services. Most of the customers prefer speaking to live representatives to traditional IVR system; the setting up of call centers is too expensive.

Opportunities

Advancement of use of IVR and automated parts that process the customer products worldwide will play a significant role in enhancing the success of ET. The IVR will aid in meeting the demands of many customers that seek assistance via calls. On the other hand, the automated parts will help reduce time spent by customers in carrying out their business activities.

Threats

Emerging Technologies experience serious challenges in terms of advancement. Highly developed countries such as America have incomparable advanced technology. Therefore, ET has to invest considerably in terms of money and time in order to equate the technologies in local areas such as countries in Middle East with the technologies in the USA.

PEST analysis

Besides SWOT analysis, it is also appropriate to look at the environment in which ET operates. PEST analysis is most effective in analyzing how companies operate in their respective environments.

Although ET has diversified its operation in Middle East, UAE and North America, it is appropriate for it to focus on macro environment. Macro environment consists of political and economic factors. It also includes technological and socio-cultural factors.

Political factors

Political factors are vastly manipulated by the government of a given state. These factors consist of rules and regulations that a company ought to observe. Many governments rely on voice recognition software in tracking down criminals. Thus, ET ought to be subjective to government demands in order to be successive.

Economic factors

The operations of ET are extremely essential to UAE. Currently, many nations in North America and Middle East use voice recognition software in meeting the demands of clients that carry their business from their respective homes. In this respect, ET need to consider the cost they incur in setting up call centers. It has to come up with strategies that will aid it acquire many customers in order to boost its economy.

Social factors

Voice recognition software plays a significant role in day-to-day activities of customers. Majority of the people requires voice recognition application for not only communication, but also business transactions.

Technological factors

Emerging Technologies have managed to meet the demands of many clients via the introduction of IVR and automated parts that serve customers. It has also managed to expand its technologies to regions found in the Middle East and North America.

Porter’s analysis

Porter five-value chain analysis also plays a significant role in providing exceptional framework for company analysis. The forces used in Porter’s analysis include the threat of substitutes, the bargaining power of customers, and the bargaining power of suppliers. Other forces include the threat of established rivals and the threat of new entrants.

The threat of substitutes

Despite the invention of new IVR, many people may prefer using traditional IVR. ET experience a lot of challenge in terms of meeting the demands of many customers who call at the same time.

The threat of established rivals

Even though ET is the leading company in UAE in terms of production of voice recognition software, other companies such as the one found in the USA may advance its services to nations regions found in North America.

The threat of new entrants

The development of recognition software is a unique activity. However, with the advancement of technology other companies may come with software that relates to voice recognition software.

The bargaining power of suppliers

Most regions in Middle East and North America have not technologically advanced in terms of communication. Therefore, ET controls the prices of the services they offer in such areas.

The bargaining power of customers

The customers of new voice recognition application have the option of using the traditional IVR in carrying out their activities. Therefore, ET must meet the demands of its clients.

Conclusion

Conclusively, this analysis shows that Emerging Technologies has much control over the production of voice recognition software. It also shows that Emerging Technologies has high opportunities of expanding its services to Middle East and North America.

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