Technological Factors Affecting Business

The trend in which the world is advancing technologically is quite rapid, now virtually every facet of life has been positively or negatively affected you. The growth and development in technology can help improve positively productivity of the labour force, and also reduce drastically the transportation costs, communication costs, distribution costs and production costs. A good example of technological factors that can affect business includes the change that has a positive effect on the production and distribution of a product or services. The introduction of technology into business has helped in a lot of ways even in virtually every areas of business from the point of production to the point delivery. I would like to discuss and highlights some useful points and highlights how some technological factors has affected our business either positively or negatively.

 Technology in Business

Business Technology is the increase reliance on information technology by business of all various types to handle and optimize their processes. It makes use of information technology to improve organizational performance and individual qualities of life and it also integrate information with business to create various and diversified opportunities. It can be simply be defined as an integrated system that provides information to support business and the operations of an organization. It involves the use of information and communication technologies that can improve the organizational performance and effective productivity.

 What is Information Technology?

The information technology department of a large company would be responsible for managing information, storing information, processing information, protecting information, transmitting the information deem necessary and later retrieving information as necessary.

In the 1960’s and 1970’s the term information technology was a little well known phrase not known to many as it was a known phrase by those who work in places like banks and hospitals to describe the process they use to store up their information. With the paradigm shift to a computing technology and ‘’paperless’’ workplaces, this has help to reduce the bulky space use to store up data. The wide acceptance and use in the 21^st century, nearly every child in the western world many other parts of the world can now operate a personal computer. It has enhance the advancement of communication from physical postal mail to telephone, fax, transmissions to nearly instant communication through instant Messaging (IM)  platforms like Skype, Yahoo messenger.Whatsapp, Blackberry messenger, MSN messenger, Aol messenger, Googletalk, and also electronic email (email).

 How Does Technology Affects Business

The Transmission and technological advancements in the past decades has greatly increased the competitive nature and business dealing in the world of business. Companies has implemented the use of software, computers and the internet to transform there business locally, nationally and globally and compete favourably with other competitors worldwide. Many companies has reacted to these changes by automating there business processes and manufacturing processes. Technology has forced businesses to remain flexible, adopting and upgrading to newer and better technological advances. Many companies has multiple locations, whether locally or globally, with the use of technology it has help to implement better communication and it has allow customers to shop for goods and services 24/7 without having the need to visit the company or store.

 Advantages of Technology

In our world today, there has been a great deal of changes in our business with the advancement of technology, things that were done manually or by hand are now done through computerized operating systems. Technological advancement has help bring down the barrier of linguistic and geographical boundaries with the help of technology, communication has become quicker, cheaper and more efficient with the use of an sms you can send a message and be delivered instantly or even send an email or instant messaging. It has also help to save cost and increase the profit and return over investment (ROI). Technological improvement has help increase the employment rate by the increasing productivity. It has really enhance communication, even when you are out of office, your client can still contact you and also your employee can contact you with any problem faced transacting any business and can readily be solved without further delay. Companies implementing technology into their mode of operations can improve sales through websites. Technology allows information whether written or broadcast, to be shared more quickly and faster and with fewer resources.

 Disadvantages of Technology in Business

There are a lot of disadvantages imposed on business with new technological approaches, I will discuss a few

• Security: Many Industry experts so much that the internet has made the job security a key role since technological improvement keeps changing with each day. The breach of security, if appropriate measures are not taken unauthorized individuals may access confidential data.
• Expenses: The need to update the technology constantly in order to stay in line with the technological standards and improvements. Also, acquiring technology will imply that the company needs to employ the service of professionals to assist with and also monitor that technology acquired. To keep abreast with technology the  price you pay is an ongoing expenses, the initial costs, as well as maintenance, updates and training expenses.
• Distractions: Aside from other forms of demerits of technology on business, distraction in the workplace is another disadvantages of technology. Interruptions can include instant email and instant messaging, online games, music and videos.

Types of Technology in Business

It does not matter what you are selling or offering a service you will benefit immensely using different types of technology. I will discuss a few.

• Internet

A lot of business these days has a official website, which is one of the way to maintain global presence. With the use of social networking sites like LinkedIn, Twitter and Facebook, you can communicate with ease with your targeted audience with ease. Even from the comfort of your room you can communicate with your employees, co-workers or clients from other part of the world.

• Mobile device

Executive and employees make use of different mobile device like smart phones, PDA’s tablets, computers and laptops. With the use of these portable devices workers can stay connected, and make use of different applications and tools for business like GPS locators, productivity tools, whatsapp e.t.c The types of technology is widely used by small and large businesses globally.

• Software

Businesses make use of different types of software, software applications like VoIP (Voice over Internet Protocol). This software is used by business that has the needs to conduct phone calls or online conference. And there are different software for banking industries, accounting industries, sales and purchase software, accounting software and lots more.

New Technology in Business

There are a number of new emerging technologies, but I ‘ll discuss a few.

• Wireless Technology

The use of wireless device are now capable of doing virtually everything from making calls or talking over radio (walkie – talkie) to the use of internet or company runned applications and can also send memos and it is quickly evolving with mobile phones manufacturers and computer manufacturers like Apple, Blackberry, Hp, Samsung, Nokia and many more. Many companies runs their network on wireless so all employees can connect their computers and mobile that has wireless capabilities via a secured wireless network or open network.

• Cloud computing

Cloud computing takes networking to a new level, you can now store documents and programs on a ‘’virtual’’ device or computer which can be accessed by any authorized user through an ordinary internet connections. These can be accessed by co-workers and which allows them to interact on documents in real time.

New Business Technology in 2013

With the evolving technological innovations in the global scene there will be new innovations and cutting edge technological improvement to the new technology we are still experiencing that facilitate the way our business are done,.

Office Technology

There era of bulky space are left to store files is now fading away, but now the use of computers has solved the issue, data can now be stored on computers and as well back it up on an online server database. Those times on relying on mails delivered once in a day has been reduced drastically, whereas now workers can now be bombarded with emails, instant message, text messages, Blackberry traffics, blog updates, tweets, news feed and calendar reminders and phone still ringing and the postman still delivery the postal mails.

There are online software connected the companies secured server and database from the point of production to the point of delivery to keep up to date of the stocks produced and available stocks.

To recap on the technological factors affecting businesses, we have discussed technology in business and how it affects our businesses either positively or negatively. The technology in business was highlighted and discussed and the new technology in business, also we discussed what kind of innovations and development we should expect in 2013. The office technology was also discussed and the how it has helped improved businesses. I hope with the discussion and points highlighted I was able to furnish you with adequate information needed.