Free 517 words Essay on Importance and Impact of technology in Business for school and college students
In today’s 21st century, when every home or business is surrounded by the latest gadgets and services, living life without technology is almost an impossible thought. From home, offices, online workplace, and many other technical to non-technical fields, technology has really played a great role in taking your business to a new level of success.
Let us understand How Important technology is for a business?
- Technology plays an important role in your business expansion, irrespective of the size of the business you are running. There are several benefits to integrating technology and some of them have been discussed below:
- With the advent of science and technology, there is a drastic change in the means of Communication. Earlier, business promotion was mostly done via newspapers, pamphlets, etc. like things but now-a-days, the Internet has changed everything. With the introduction of Digital marketing in the online marketplace, everything seems to be simple and fast.
- Integrating Technology with the business improves your business outputs and profits resulting in the growth of your business. These day businesses’ design their website and start promoting their product and services over the Internet, the fastest growing means of digitally marketing any business services to the people in masses.
- Technology saves times and reduces human efforts. Taking an example of a soldering machine, traditionally people were trained to efficiently use these stations to solder any component or big parts but now-a-days robotics has replaced people with the robots or fully-automatic machines that can operate without any human intervention.
Time to focus on Impact of technology on Business now:
As we could easily see from the importance of Technology in business, human involvement is reduced and more of machines are replacing humans, giving business output at a faster rate.
With the growing technology and latest trends, more of gadgets are being introduced on a regular basis. Technology, no doubts impact your business whether it is small or big and takes it to the level of success that you never imagined before.
Technology affects your social relationship, work culture, relation between the buyer and the seller.
Some of the commonly used equipment driven by the latest technology includes:
- Fax Machine
- Mobile phone
- Refrigerators, to name a few.
Benefits of Technology w.r.t your Business:
- Better Customer Relationship. Technology offers news ways to interact with the customer. Traditionally, lesser means of communication were available but now-a-days, you can easily communicate with your customers and try to get their requirements and solve their queries on the spot.
- Business Security. Lots of security equipment’s like CCTV Camera, burglars’ alarm, bio-metric locks, and much more have come up in the market that can keep your business’ documents safe from any kind of robbery or theft.
- Multiple Research Options. The Internet world is full of information. One can easily find and search any information by simply typing the keywords on the search engines like Google, Yahoo, etc.
Technology has given business a new way to succeed and expand in a way that was otherwise difficult to find.
Tags: technology in business essay
The Impact of Technology on Business Essay
1069 Words5 Pages
The computer has introduced the world to the internet. The internet has brought us into a new age of development. Through computer technology and internet development, business are rapidly developing and at the same speed changing.
The introduction of computers has given business an interesting upper hand by supplying companies with endlessly amounts of information. The Computer age, also known as, the Information age developed an environment of free flowing information. Between the years of 1949-1975, various technologies were created that would eventually be combined and become what is now known as the computer. This technology made way for the invention of the Internet which was not created by anyone one person. The…show more content…
New information and communication technologies
quickly changed international, political, and regulatory standards.
The technological globalization changed the world market. Technology gave big and small businesses world wide the opportunity to expand their customer base. The internet allowed an individual, for example, in Kansas to communicate with a company in China and order a Chinese Hanfu. The internet introduced a new way to advertise, think, and even approach the new customer base. The World Market quickly expanded, especially the United States in the 1990’s. According to Investopedia.com the US stock market increased by 25% between 1900-2000. The chart data obtained by Investopedia.com shows the changes in the stock market. The World Market is evolving with the technology. The U.S. economy has been drastically affected.
The New Market place with an expanded customer base has presented challenges for many businesses. Now more companies require interpreters and often outsource work such as customer service representative positions to lower cost and have an effective staff. Advances in technology have changed the economy and income base for the average business. The New Market place does help the average consumer by introducing new purchasing options.
The changes in the World Market and the economic front have evolved.
The world advances have changed the global