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Technology Drives Business Change

Essay by   •  January 24, 2013  •  Research Paper  •  1,924 Words (8 Pages)  •  1,235 Views

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Technology drives Business change

The idea that technology is absolutely necessary for the competitiveness and success of businesses has been gaining adherents at an increasing pace, until the point that probably now is not necessary to try to convince anyone. The key to success and growth can be attributed to more effective use of information, especially in developed countries. Countries behind the global frontier can dramatically increase their performance by improving their access to technology and innovation. As the world is in constant change so do people and their needs. It is very important to understand what their needs are and therefore exceed their expectations. From this approach, technology is crucial. Corporations have to invest in research and development in order to quickly respond to the possibility of any market fluctuation, because the most difficult factor for a company is not to reach the highest level of recognition within the market but to keep a sustainable development. Carlston companies group is a perfect example. The top among the international travel, hospitality, and relationship marketing industries with brands such as Radisson Hotels & Resorts, Radisson Seven Seas Cruises, and T.G.I. Friday's-- was recognized for being one of the nation's top five innovative users of information technology. Carlson Companies made a $1 billion investment in IT from 1999 to 2002 alone. They have said that the key to their success is the continuing sense of innovation that helps them to have competitive advantage, and customer satisfaction.

Technology drives business changes these days; if businesses are not technologically prepared, they cannot compete, they face the risk of being thrown out of the game . Technology opens thousands of possibilities to grow and success. These days all is about technology and the opportunities that it brings.

Globalization - Technology changes have brought the world closer together and it has allowed the world's economy to become a single interdependent system. This means that we can not only share information quickly and efficiently, but we can also bring down barriers of linguistic and geographic boundaries. The world has become small, the idea of the infinitive is over and technology is allowing countries so different in culture, language even weather to shares ideas and information with each other.

Communication - With the help of information technology, communication has also become cheaper, quicker, and more efficient. We can now communicate with anyone around the globe by simply text messaging them or sending them an email for an almost instantaneous response. The internet has also opened up face to face direct communication from different parts of the world thanks to the helps of video conferencing. The technology has the opportunity to bring people closer.

Cost effectiveness - Information technology has helped to computerize the business process thus streamlining businesses to make them extremely cost effective money making machines. This in turn increases productivity which ultimately gives rise to profits that means better pay and less strenuous working conditions.

Bridging the cultural gap - Information technology has helped to bridge the cultural gap by helping people from different cultures to interact and learn from each other, now I am just one click away from the world, the possibilities are infinitives.

More time - IT has made it possible for businesses to be open 24 x7 all over the globe. This means that a business can be open anytime anywhere, making purchases from different countries easier and more convenient. It also means that you can have your goods delivered right to your doorstep with having to move a single muscle.

Creation of new jobs - Probably the best advantage of technology is the creation of new and interesting jobs. Computer programmers, Systems analyzers, Hardware and Software developers and Web designers are just some of the many new employment opportunities created with the help of IT.

But changes are not always good and the same way it can make you success can harm or even "kill" a business:

Unemployment - While information technology may have streamlined the business process it has also created job redundancies, downsizing and outsourcing. let's talk about a catering business, this days you may have thousand of information about how to make delicious dishes, that people now prefer to make them their selves (more on this reception dates where you want to save as much as you can) causing more people to become unemployed.

Privacy - Though information technology may have made communication quicker, easier and more convenient, it has also bought along privacy issues. From cell phone signal interceptions to email hacking, business are now worried about their once private information becoming public knowledge, one little rumor about a problem in your company can end up in a big damage to the image and stability of the business.

Lack of job security and continuous money investments - Industry experts believe that the internet has made job security a big issue as since technology keeps on changing with each day. This means that companies has to be in a constant learning mode, keep updating programs, constantly researching about the market, new product or new ways to deliver the business, buy new programs are devices that can make it more competitive, if he or she wishes for their job to be secure.

Dominant culture - While information technology may have made the world smaller, it has also contributed to one culture dominating another weaker one. For example it is now argued that US influences how most young teenagers all over the world now act, dress and behave. Languages too have become overshadowed, with English becoming the primary mode of communication for business and everything else.

Over exposition of information and market saturation- too much sun burns, same as too much business approaching the same target can be affected. Clients gets

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