One important aspect of technology to business is the ability to increase
productivity. Businesses have also benefited from technology in different ways
ranging from storing of information, sharing of information to improvements of
speed and reduction of error.
Technology have affected business operation in so many ways, be it a small
scale or a large scale business, both in tangible and intangible ways. Technology
have also affected the relationship and culture of business.
BENEFITS OF TECHNOLOGY
Speed and Time
Being swift and agile is the way by which small business compete with large
businesses. Inclusively, it is easier for a small business to adapt and respond
to change faster than a big or larger business. Since the birth of information
technology, sharing information has been easy and done at a very astounding
rate. Thereby saving time and offering the ability to make a quick decision.
Communication with Customers
In a busy business environment as one which we have today, it is a necessity
for employees to interact with clients easily, quickly and clearly. For
business that provides writing service, communicating with your readers, you
can provide them with good writing and
essay services. With the use website, it has become possible for customers
to get answers to their questions almost immediately. With technology and
communication with your client, the businesses now have a stronger public
The need for double or triple entry system has eliminated by technology, and
the need for large files and paperwork have been reduced, which at the same
time saves money for the cost of a storage space.
Since the birth of technology, it has been possible for small businesses to
automate certain functions that previously require the hiring of manpower. With
automation like this, a small business can now focus on strategy and cut down
Technology has gone a long way in helping business
understand its cash flow needs, and at the same time conserving resources such
as time and physical space. With technology, meetings can be held by executives
over the internet instead of meeting at co-operating headquarters thereby
saving time and cost.
Business Culture and Class Relations
With technology, it has been made easy for employees at different locations
to have a better interaction which will create a team dynamic within the
business. With a feature like this, social tension can become a nightmare for
business. Technology also at times helps workers put their different background
aside and focus on the task at hand.
Security treat and vandalism is one major problem of businesses of this
modern era. Technology can be used to protect confidential executive decisions,
financial data and other proprietary information that leads to competitive
advantage. By making use of a computer with passwords, a business can be sure
that none of its forthcoming projects can be stolen or copied.
With the available technology, a business can now research new opportunities
that will give them the edge over other. This will keep them a step ahead of
its competition. The cost of executive jets or the risk of building a factory
abroad have been cut down with the use of technology (virtual travel)
Technology as a Business Necessity
Technology has played a big role in the tremendous growth in trade and
commerce. As a result of the birth or introduction of technology, business
models and concept have been revolutionized. This was made possible because
technology gave a better approach on how to go about with business. Technology
provided a fast and more efficient and at the same time convenient way of
performing business transactions.
Technology has taken some actions and played some role in management
information system, the point of sales system, accounting system, and another
simple, or other more complicated tools as far as technology.
A Link to the World
The main aspect of business involves transportation, communication, and more
complex processes. Now it is possible for anybody to do business anywhere
without being constricted to the four corners of his room.
Technology in business made it a dream come true to have a wider reach in
the market i.e global market. The internet with is the most basic and common
example is a well-known marketing tool to attract more consumers.
Increased Employee Productivity
Employee’s productivity has been increased exponentially by the use of
computers and other business software packages. These have been achieved by
allowing employees to provide data entry function and automated reports.
Instead of making use of the well-known manpower to create and assemble goods,
machines can now be used to perform these functions. This method or
technological improvements have increased capital expenditure, but at the same
time reduced or lessen the impact of consistent labor expenses. Now fewer
employees (machine operators) are needed to perform more jobs.