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Changes in Technology in Business

The changes in computer, information and communication technology are influencing all aspects of the business world, from marketing and networking to research and development. Understanding and utilizing the advancements in the technology industry are vital for any business owner, worker, or investor if they want to continue growing their business and attracting new customers and clients.
Accessibility
  • Advancements in mobile technology allow employers and employees to communicate in newer, faster ways. Laptops, tablet computers and mobile devices like PDAs keep workers constantly connected, raising networking to another level. Companies have access to their clients and customers on-line and vice versa, increasing the frequency and speed of communication, and making companies more available to their customers.
Application
  • By utilizing the connectivity offered by changes in technology, businesses can easily keep customers and clients up-to-date with the latest information and news. They can also use this access to conduct faster research on what clients are looking for, leading to more rapid business development. Many businesses are already using social networking tools like Facebook, Twitter and LinkedIn to stay in constant contact with their customers and learn more about how they can better their company.
Benefits
  • Speed is key in both the world of business and technology. Companies are constantly developing their products and services in the hopes of reaching their desired audience first. The changes in all forms of technology today allow workers to communicate with one another and customers from all around the world quickly and easily. Advancements in communication technology in particular opens up more job opportunities, as many companies are allowing their workers to be more mobile, and a potential employee may not need to live in a certain place in order to qualify for a job. It also allows smaller businesses to compete with big business, helping them find customers outside of their neighborhood.
Potential
  • Technological advancements are already having a large impact on business marketing, as most companies have recognized the value of having an updated website and other on-line resources. As changes in technology allow the Internet to become more interactive, businesses will have the opportunity to interact more directly with their fellow employees, their competition and their customers. This change could help the business world become more transparent, leading to growth and development that will benefit workers and anyone who needs the services they provide.
Expert Insight
  • Changes in technology and their effect on the business world can be viewed from a few different perspectives. According to a study conducted by the Center for Information Systems Research at the Massachusetts Institute of Technology, three distinct perspectives include trying to improve a business or company, trying to surpass the success of competitive companies and trying to decide whether or not to join a specific business or industry.

34 Comments to Changes in Technology in Business:

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