Nanotechnology in Business Management

Question: Discuss about theNanotechnology in Business Management. Answer: Introduction Nanotechnology leads to the new era of the civilization that depends on the various means of technological application in daily activities and operations. Nanotechnology is one of the latest wings of the science and technology that involves the parameter of nanoscale within 1to 100 nanometers. This report has embedded different dimensions of the management that can be applied to the functionality of the nanotechnology and its efficiency to meet the expected result. Human resource can make their activities easier with the application of this technology while undergoing procedures like recruitment and selection. Apart from that, maintaining the information about the employees can be proved helpful prior to the performance screening and reward recognition. Nanotechnology is the revolutionary in its own kind and has affected the approaches of the Human Resource Development in terms of making strategies and policies for the organization, employees, as well. Implementation of the nanotechn ology has resulted in the improvement of decisions of regulatory bodies and designs, required to supervise the performance of the employees. Authorities of human resource development can make the service better by allowing the facilities of customization of products and preferences for different customers. One more important aspect is the maintenance of the health and safety issues. As human resource management focuses on this matter, they can implant this technology to make the data of the employees easier to access and organized to avoid any inconvenience. Nanotechnology can help to extract the best possible outcome for any organization as it involves the process of shaping and organizing the potentials of the employees along with the achievement of the goals. An innovative technology like nanotechnology analyzes the market demand and can facilitate the service and enhancement of the market. Nanotechnology is one of the major components that are used to make the communication uninterrupted. This report has detailed all these attributes of the nanotechnology in a form of background analysis and valid collected data. This report has undergone research to validate the findings and relate the analytical explanation to the practical approach; hence, research methodology has been incorporated allowing techniques of the data collection, research strategies, and data analytical processes. This report has involved both primary and secondary method to gather the relevant information. Data have been collected by means of the qualitative and quantitative method. Moreover, a random sample has been taken for the surveying of the people. To measure the required time for the accomplishment of the project Gantt chart has been included. This report has tried to encompass all the advantages of usage of nanotechnology in an organization. Apart from that, this report has focused on the significance of the technological advancement in the present scenario. An organization can upgrade the standard of the service as well as can improve the performance skill and knowledge of the employees. This report covers all the requirements to establish the topic of Nanotechnology in Business Management; hence, this report can be further reviewed while conducting extensive research. Conceptual Framework: Conceptual framework presents the ideas and concepts of topic collected for an organization in a simple way so that one can understand it easily and remember during the application. It mainly uses a set of tools. Varieties in the analytical context also in distinctions of the conceptions. Concepts and different aspects of nanotechnology in case of business management and human resource development have been imaged with the help of conceptual framework, as below: Conclusion: Hence, after revising the entire research project it can be concluded that this discussion is valid in the current context of increasing technological sophistication and easier application of the procedures. Employees with the basic technological knowledge are high in demand nowadays; moreover, human resource management also required developing their application procedures those are easily accessible and can keep the information in an organized way. Therefore, this topic is valid to conduct research on it. From this research, it has been cleared that, nanotechnology can change the efficiency of the employees also the productivity of the company. Implementation of the nanotechnology in an internal system of the company can easily integrate the communication system of that organization leading to more functionality. Organization can apply nanotechnology to keep the records of the employees in a way that can reduce the time and labor of the management authority while be searching for any particular information. Moreover, health records can also be kept safe with the help of nanotechnology. In this regard, the priority of nanotechnology has also been described prior to the selection of an employee. As it is easy to gather data and store them when using nanotechnology, employers can go through the collected data and hire an employee based on whether the employee is compatible to the requirement or not. As nanotechnology forms integrated system within a country, it gets spontaneous to monito r the activities of the employees in the workplace. This step can also help the human resource development department to make sure no unethical practice is going in the organization. Performance statistics and skill of the employees are subjected to frequent observation; hence, using nanotechnology can make this process easeful for the management. On addition, an organization can also find out the employees who require further developmental session due to the lack of performance. Arranging questionnaire sessions for the employees in an organization by using the advanced nanotechnology can help the human resource management to be aware of the demand and requirement of the employees. Apart from that, application of this technology to get an idea on the market demand can be helpful for the company to reach their goal as having the knowledge of the actual demand of the customers influence the strategies, products, standard and the service of the company. Brand value also gets affected i f the service gets interrupted by any technological issues. A successful project requires proper research that involves different methods to fulfill the requirement of the research. Data for this research has been taken from both primary and secondary sources that have allowed revision of the published articles and journal contents along with the direct opinion and suggestion from different organizations. For the survey, random sampling has been chosen that has helped to collect the information from various backgrounds without restricting any source. The main objective of this research lies in the evaluation of using nanotechnology in business management and this report has been able to stand for the requirement. Research is time-consuming and depends on many variables. In this report, Gannt chart has been provided to give a clear account for the duration of the research. Research period is important as it indicates the circumstances and the requirements for that particular period. This report reflects the goodness of the application of nanotechnology in a competition as the company that allows the usage of nanotechnology will always have the advantage over one that has not facilitated the nanotechnology. This report has used examples of a large corporate sector to make the findings of the research more realistic. IBM uses the nanotechnology and has availed the advanced level of technological assistance; following the path of this multinational IT giant other organizations can also make their business more successful, both employee and customer friendly. Suggestions have been given to the human resource development department of organizations so that, expected outcome can be obtained maintaining efficient employee relations and customer satisfaction.