LED Technology.
Introduction
In the current era of globalization, it is crucial to use efficient technology that will bring in economic and environmental benefits. LED is a strategic technology that aims at sustainability and economic growth. LED is a long-term investment with high impacts on firms, considering the low operating and maintenance costs involved. Recent economic analysis has proven that LED technology is beneficial in various ways and will continue advancing in the future. The LED technology has a profound impact on the firm because it has a high light output and low energy consumption. LED technology serves as an innovative business technique because it is economically friendly and can save costs for firms because it focuses on low energy consumption and low maintenance cost.
Article Synthesis
Efficient use of energy contributes to the social, ecological and economic necessity that the world is aspiring. LED technology is associated with reduced operating and maintenance costs which serves as a long-term investment. Often, technicians choose LED lighting because it indicates a higher financial saving. Spanish economic crisis brought in the need of having their budget significantly reduced by having low cost and efficient technology methods (Morillas & Andres, 2018). The government developed energy optimization plans that were aimed at increasing energy efficiency. The article also evaluates the set of indicators that technicians consider when making decisions on suitable lighting techniques. The study carried out at Casarabonela indicated that using LED lighting would bring in a high value. The amount of light emitted by LED bulbs was sufficient and would decrease cost by about fifty per cent.
In addition, the case justifies the quantitative and qualitative indicators that are used to measure energy efficiency. In the economic perspective, LED street lighting would be beneficial to the city council through reduced cost of maintenance, operating and utility bills (Morillas & Andres, 2018). Also, technology is eco-friendly because there are no hazardous emissions to the environment. The technical requirements that were presented by bidders were also favourable, and they complied with every aspect that was required by the technicians. Besides, the maintenance staff indicated that they were satisfied with the requirements presented because they were not required to perform frequent maintenance. After proper evaluation, municipal technicians settled for the of LED technology because it was in line with the government’s energy optimization plan.
Integrative ways in which firms can use technology to improve strategic position.
Every day, firms focus on being innovative through concentrating on technology that will cut on their costs and enjoy favourable profit margin, because of the amount saved through the creative use of LED counts. In this perspective, the business owners receive friendly utility bills at the end of the month. One of the ways that firms can use LED technology is through the use of LED lighting bulbs. LED lights last longer than the ordinary light bulbs because they have up to fifty thousand hours of illumination (Meadows, 2018) . It is important to note that, in the age of globalization, the world should be open and transactional to change (Dicken, 2015). Also, Firms can integrate LED technology in their exhibitions and displays because they display multiple colours. The flashing lights make the business stand out and attracts passersby which increases sale volumes. In the office setting, employees enjoy quality anti-glare light which is a way of fostering productivity. Needless to say, LED lighting creates ambience by ensuring a business is well lit while saving significantly over the traditional methods. LED lighting has precise optical control that is evenly distributed in a room. LED technology supports the sustainability efforts of a company because it is an energy-efficient project that saves on cost.
Recommendations
Considering the benefits outlined above, I would recommend LEDs to produce quality light compared to traditional lighting methods that used incandescent light. Also, LEDs are environmentally friendly because they do not contain mercury and other harmful substances. Global production networks suggest that firms should integrate structures which blur traditional organizational boundaries (Dicken, 2015). I recommend LED because it is the latest and exciting technology in the lighting industry which are long-lasting and produce efficient light. LED lighting systems are favourable to the environment because they reduce pollution and serve as a natural source of light. Today’s world is paced up, firms should always work to keep up with the ever-changing technological advancements that come with a couple of economic benefits (Yates, 2019) . Investing in technology can never go wrong, instead, it serves to increase the benefits of a firm. In addition, I recommend firms to embrace the idea of LEDs because they have a high resistance to external impacts compared to traditional methods.
Conclusion
If a firm is looking for an energy-efficient method, LED is the way to go because it has a couple of benefits. LED technology ensures economic benefits for a firm by cutting on overhead costs. Moreover, when LED technology is integrated correctly with a business, it creates ambience, and the firm enjoys economic benefits. It can be used both indoors as an energy optimization strategy since it is more energy-efficient, which results in substantial cost savings. Led technology is an innovative strategy for businesses that contributes to the social, ecological and economic necessity.
References
Dicken, P. (2015). Mapping the Changing Contours of the World Economy. Global Shift, Chapter 1 & 3. Retrieved 16 February 2020, from.
Meadows, C. (2018). Lighting Specialists to Show How LED Technology Benefits a Growing Business. LEDs Magazine. Retrieved 16 February 2020, from com/article/16701524/lighting-specialists-to-show-how-led-technology-benefits-a-growing-business.”>https://www.ledsmagazine.com/article/16701524/lighting-specialists-to-show-how-led-technology-benefits-a-growing-business.
Morillas, M., & Andres, J. (2018). Renewing Street Lighting with Led Technology: A Single Case Study in Casarabonela, vol. 27(No. 6), 16-26. https://doi.org/10.33383/2018-079
Yates, Y. (2019). The Impact of LED Lights on the Economy. Medium. Retrieved 16 February 2020, from https://medium.com/@yu495200350/the-impact-of-led-lights-on-the-economy-594ad63819c6.
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