Base on the pictures below, make a reflection or reflect on the following topics:

• The increased rate of technological change
• The advancement in information linkages

THE INCREASED RATE OF TECHNOLOGICAL CHANGE TECHNOLOGICAL CHANGE A technological change is an increase in the efficiency of a product or process that results in an increase in output, without an increase in input.Diffusion - how fast INVENTION V. INNOVATION others begin to adopt the innovation. Invention - the creation of a new product or Innovation - the application of the invention for process the first time IMPACTS OF TECHNOLOGICAL CHANGE Technological change is affecting almost every area of the economy. society and culture. I Creates new products and I Negatively affects the value of processes workers - Increases efficiency, lower costs - Poses new challenges for - Helps economies evolve pclicvmaking I Decreases self-reliance \fADVANCEMENT IN INFORMATION TECHNOLOGY (IT) Advancement in information technology (IT) is affecting every aspect of human life as a result of the structural revolution. It is also affecting organizations compositions and their functions specifically concerning bureaucratic organizations. It can be said that Information technology is improving managerial efficiency in bureaucratic organizations both in short and long term scenarios. With the use of information technology, one can store, access and retrieve large amounts of information, accurately and rapidly. With the use of information technology in bureaucracy organization, there is time-saving and effectiveness in decision making. Effectiveness in decision making is achieved as a result of improved communication channels.Thus, information technology is affecting the centralisation or decentralisation of decision making and control systems(Bezweek and Egbu, 2010). Technology has deeply affected the working structure of organisation also. It is also challenging the traditional hierarchy and decision-making. It is possible in future that these technological advances will lead to the end of bureaucratic forms of organisation.INFORMATION LINKAGES The idea of information linkages is closely related to the recent empirical literature on the value of local information, social interactions and information networks in financial markets. In a market with informationally connected traders, the dynamics of volume, price informativeness, price volatility, and liquidity are severely affected by the information linkages every trader experiences with his peers.INFORMATION LINKAGES in the presence of information linkages among traders, volume and price informativeness increase. Moreover, information linkages can improve or damage market depth, and lovver or boost the traders' prots, according to whether these linkages oonvev positively or negatively correlated signals