The Importance and Impact of Technology in and on the...

Abstract: Home computer owners in the world today are more likely to be business owners than those without computers. This indicates that technology and computing are inseparable in the current business world. Over the last two decades, there has been an enormous boost in the number of home computers. In many varied fields, this makes computer owners invariably full to entrepreneurship. With the growth of technology, internet and computers, new methods have been developed in the processing of everyday business activities. Routine tasks would have been taking enormous amounts of time and specialization were it not for computers. In the last century, computer represents the top technology development in relation to business today. A vast†¦show more content†¦Some of these tasks include, among others, email, inventory managing and book keeping. With the advent of the internet, the expenditure of marketing and communications has been brought down. A plethora of business opportun ities for all businesses have also been opened up with the explosion of internet and e-commerce. The statistical software has enabled businesses to implement new management methodologies like the Six Sigma. It has also been possible for companies to train their employees by in-house Six Sigma programs, eventually saving a lot of money on overstress expenditure (Scott, 2005). Technology has also enabled business functions to operate on autopilot. This has opened up vast business opportunities especially for software development companies and business consultants. Outsourcing is another business trend that has opened up as a result of advancing technology. It is now very possible for a company in the United States of America to have its data entry and customer care centers in Africa (Draheim, 2010). These have improved the way business is done because companies can now serve their clients 24/7. Technology has now become an indispensable component of business today. It has become very hard to reckon of a situation where businesses can operate without computers and technology today. This is becauseShow MoreRelatedProcter And Gamble : An American International Corporation Essay1116 Words   |  5 Pagesutilise effective operation strategies such as, use of global factors, outsourcing, application of technology and quality management to improve business outco mes. Examining the importance of operations strategies shows the effect it has on a businesses outcome, Procter Gamble and Eli Lilly are an ideal of observing this. Businesses need to identify operation strategies in order to fulfil business outcomes. PG is a company that wants their consumers to know how much they care about the environmentRead MoreInternational Marketing Research884 Words   |  3 Pagesin the business model of the industry. It has been noted that the recent developments in technology, especially in information technology sector, has directly influenced the retailing industry. The retail industry has been the major consumer of new technology and therefore any change or development in technological terms has a direct influence over the industry. With improvements in technology, retailing firms begin to adopt new business processes, which were new to their traditional business setupRead MorePest Analysis1689 Words   |  7 PagesSTEP, PESTLE or STEEP analysis) looks at the external business environment. PEST stands for Political, Economic, Sociocultural and Technological. Technological factors in this case, include ecological / environmental aspects - the second E in STEEP and PESTLE, while legislative factors a re included under Political (the L in PESTLE). The analysis examines the impact of each of these factors (and their interplay with each other) on the business. The results can then be used to take advantage of opportunitiesRead MoreImpacts Of Technology E Commerce1471 Words   |  6 Pagesï » ¿Impact of Technology in Business – E-Commerce Since the introduction of the Internet in the 1950’s, development of technology began for use by the military until it was soon introduced to the public for commercial and private use. Throughout the decades ever since, technology was then on the road to sudden rapid expansion, with a big boom in new hardware, software and internet capabilities such as faster computer speeds, faster internet connections and efficient software. Convenient services appearedRead MorePESTLE ANALYSIS FOOD INDUSTRY1484 Words   |  6 PagesMiddle East. We plan to expand our business into Brazil, Ukraine, Poland and Taiwan. Through the analysis we will try to look into several factors that we think will have an impact on our future investment plans. 2.0 INDUSTRY ANALYSIS: PESTEL FRAMEWORK 2.1 Political Factors: (a) Internal factors In India as in elsewhere politics and economics get intertwined quite often. Sudden ban on exports of products such as onion, rice etc. have an adverse effect on our business. Many a time these policy decisionsRead MoreInternal and External Factors Essay1027 Words   |  5 PagesFactors There are four management functions that are typically found in most of the business environments around the world. The four functions of management are planning, organizing, leading, and controlling. These are most commonly used in high level management to organizational management too. There are five major factors that affect these and many other business functions which are globalization, technology, innovation, diversity, and ethics. If you were to look into any organization, these wouldRead MoreEssay on Managing a Large Financial Project979 Words   |  4 Pageswas to take staff from a project with less importance and put them on the financial project. From the outside this looks like a great solution to the problem because more staff could get the work done faster and put the project back on schedule. I have to disagree with the CEO’s point of view because just assigning more people to this project will not solve the problem. We need to have staffs that are knowledgeabl e in the business process and the technology architecture related to the financial projectRead MoreImportance Of E Commerce Infrastructure On Present Era And The Coming Generations1108 Words   |  5 Pagesnetworking applications such as Internet. The main purpose of this paper is to study about the importance of E-commerce Infrastructure in present era and the coming generations. Hardware, Software, and Networks are the basic varieties required for E-commerce Infrastructure. The main approach of the study is about the Internet Technology, Internet-Today, and the future of Internet. The Internet Technology refers to network of networks, were IP address is the global unique address to find out the networkRead MoreEssay on High Availability Database System1268 Words   |  6 Pagesavailability is critical to the availability of whole information system. Ensuring the continuous availability of the computing resources in the enterprise is a primary objective of today’s database administrator (DBA). All the computing horsepower in the world and secure/defensive application coding makes little difference if users and customers cannot access the resources that they depend upon to carry out their job functions. If the database and servers that support the application are unavailable, itRead MoreTechnology And Economic Growth. When Studying Economics,1646 Words   |  7 PagesTechnology and Economic Growth When studying economics, one often finds periods of growth as well as periods of recession. There have been many reasons for these highs and lows throughout history. The United States has experienced many recessions dating back to the 1929 depression under Herbert Hoover to the most recent 2008-2009 depression caused by failing housing markets and malpractice (Amadeo,2017). However; the U.S. economy has always recovered and has flourished after recessions. One of the