By Rasheed Shofidiya
Technology has changed the business world completely in so many ways. If your business is not aware of technological change taking place it is in trouble. The old fashion way of doing business is a thing of the past. Technology has globalized business through the internet and many other media apps and devices.
Technology revolutionized business. The greatest thing technology added to the business world is time constraints. Important business information can travel in a matter of second through faxes, email etc. The barrier of distance no longer exists. Technology allows you to save data in one location such as in an email, flash drive, floppy disk and etc. Files are no longer stored in huge file cabinets. "Computers offer companies a way to organize dense databases, personal schedules and various other forms of essential information."
Every business relies on the internet, the use of the internet is crucial to success in the information age. The internet is a good way to advertise your product or service. The internet is used in so many ways to read online reviews, send emails, booking, and shopping. Many consumers are lazy they no longer want to go into the store to shop but prefer to shop online. Shopping online is known as E- Commerce it a new trend that a new or old company must have. The internet allows airlines to provide online booking, and banks to have online banking and account management. The internet makes it easier for firms to collect debt from their consumers by enabling to pay their bills online. Firms no longer have to worry about human errors such as wrong mailing address.
The internet and other technological advance helps pave the way for entrepreneurs. The internet allows smalls firms to compete against Multinational Enterprises. The internet makes the world smaller known as globalization. Small firms can reach customers from all around the world the same way that big firms can. There are numerous benefits of the internet as I mention but there are many drawbacks as well. Conducting business online has many risks such as privacy and security. Identity theft is on the rise because many consumers put all their vital information online and hackers are becoming more advance.
No comments:
Post a Comment