Which role does technology play in strategic management?

Technology plays a crucial role in strategic management by enabling innovation and improving operational efficiency. Organizations leverage advanced technologies to streamline processes, enhance productivity, and respond rapidly to market changes. This capability allows companies to develop new products and services, improve existing offerings, and gain a competitive edge.

By implementing technological tools such as data analytics, organizations can gather valuable insights into customer preferences, market trends, and operational performance. This information empowers strategic decision-making and helps in identifying opportunities for growth and improvement. Furthermore, technology facilitates better communication and collaboration across teams, leading to more effective execution of strategic initiatives.

In contrast, the other choices do not accurately reflect the positive impact of technology on strategic management. Rather than increasing employee turnover, technology can enhance job roles and employee satisfaction when used effectively. It does not inherently hinder operational efficiency; in fact, it often does the opposite by automating tasks and optimizing resource allocation. Additionally, rather than limiting access to customer data, technology typically enhances data accessibility, enabling organizations to improve customer relationship management and tailor their strategies accordingly.