The Impact Of Technology On Business Essay

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:

  • Computer
  • Printer
  • Fax Machine
  • Internet
  • Projector
  • 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.

 

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Impact of technology on business  -Progressive assistance

The world of business contributes a dynamic character in the society. Over the age’s business have become a strong foundation in every country’s economic prestige and position. The stability and strength of its trade and industry determine how business sector are vastly evolving. Dominating in all aspect of life, business meets each individual’s necessity of living. Business had become a leading facet with the aide of technological advancement.

Change takes place every day and technology shows an essential part in business industry. Businesses have become reliant on the availability of technology that the absences of it even in a second will eventually make the business world suffer and struggle to the deepest. Nearly all business establishments are using technological equipment and devices on every single form of its business activities and procedure. The use of technology in the business industry has become an emergent need.

The technology act as a growth fertilizer of the world’s market and trade productiveness, as it stretch from simplest form down to the most complicated kind of operation. It has changed the business industry track since computer revolution was being introduced. Most businesses are hooked on the use of technology on all points of research and development, maintenance, production and down to delivery. Small and large scale enterprises are expending on computer system to improve its efficiency on information system, accounting, and productivity. Definitely, the role of technology has triggered a new technique and method to do business at its best.

Non-existence of this technology would put automation into void. Years and years passed by, the world of business is more dependent on its existence, finding it hard for the two to be inseparable.  By this, every business have the access into the international world through the use of the internet. Putting it into the website will allow reach prospect costumer across thousand miles. Technology supports every business and allowed it to mature and multiply. Business moulds the world’s economic status and it’s the technology that sustained it. It where globalization was conceptualizes and made to reality all because of the miracles of technology.

Global economy would breakdown and world development will stand still if technological commerce is taken for granted and trade is neglected. The importance of technology in business sector heavily penetrated. It became an enormous business itself, in the form of software design and development, computer hardware manufacturing and robotics applications. It is difficult to imagine living without the presence of technology that most of individual are relishing now a days. It’s like living back in the previous decades, no computers, unavailability of cellular phones, absence of internet.

Absolutely, the importance of technology in the business eventually produced a valuable lifestyle. Businesses are growing extensive and progressive. It provides a quicker, appropriate, and more competent system of performing business relations. The good thing that brought by technology in the business world has also influence the living of every individual and the society it belongs.

That is how important technology is in the business, a progressive assistance. Do not forget to share your thoughts on the impact and importance of tech in business in the comments box below.

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