Technology
Technology affects almost every aspect of our lives. It has changed the face and the pace of business. As communication and information travels faster and faster, the world seems smaller and smaller, and this has large implications for the way we conduct business. Storing important files on
a computer rather than in drawers, for instance, has made information easily accessible. Using e-mail allows businesses to communicate and send these files quickly to remote locations outside of an office.
Many argue technology has blurred the line between professional and private lives. Wireless Internet and mobile phones and have made it easy to work from home — or for that matter, from the beach. The fact that it’s easy to work from the beach compels people to do so. On the flip side, people also feel compelled to use Internet access at work for personal reasons. In this way, technology allows workaholics to work and slackers to slack.
So, exactly how will you utilize technology in your business?
As computers emerged in the 20th century, they promised a new age of information technology. But in order to reap the benefits, businesses needed to adapt and change their infrastructure
American Airlines started using a computerized flight booking system,
Bank of America took on an automated check-processing system
Legal Shield created an app to attract more tech-savvy customers
Apple put music in a device
Uber uses other people’s cars to transport their customers
Businesses can outsource duties such as computer programming and telephone customer service. They can even outsource fast-food restaurant service — don’t be surprised if you’re putting in your hamburger order with a fast-food employee working in a different country entirely. Outsourcing is a controversial practice, and many believe that U.S. companies who take part are hurting the job market in their own country. Nonetheless, from a business perspective, it seems like the wisest route, saving companies between 30 and 70 percent [source: Otterman ].
Another technology that’s starting to revolutionize business is actually not very new — it’s just cheaper these days. Radio frequency identification (RFID) technology is infiltrating and changing business significantly in a few ways. Microchips that store information (such as a number equivalent of a barcode and even an up-to-date history of the chip’s travels) can be attached to product, and this helps companies keep track of their inventory. Some businesses have even begun to use RFID chip implants in humans to tighten security. An access control reader detects the chip’s signal and permits the employee access to the door.
Many people are concerned about privacy issues if this were to become widespread practice.
Handheld devices like smart phones and tablets have become wildly popular for businesses because they let users check and send email from anywhere, and browse the Internet.
The Internet enables airlines to provide online flight booking, banks to offer online account management and bill pay and allows any company to sell any product online. In general, the Internet has proven to be an inexpensive way to reach more customers. Nowadays, if you can’t find a business online, or if it has an outdated, ugly Web site, it looks downright unprofessional. Many businesses have succeeded in using the Internet as their primary, or sometimes only, medium.
Small businesses, too, have become easier to start up using the Internet. If you’re a stay-at-home mom who makes a killer batch of cookies, you can easily sell them over the Internet and ship them to your customers. But, it’s not always as simple as it sounds. Any business conducted online must consider security, privacy or even copyright issues. Copyright issues would include making sure your business doesn’t use someone else’s original work (such as a logo, for instance) or even making sure no one else is profiting from your business’s creative work.
One of the biggest ways the Internet has changed business is through targeted advertising. Social Media has also changed the way businesses communicate with their customers and potential customers.
Here are some other technologies that could be beneficial in your business:
- The Cloud
- Databases
- Text
- Facial Recognition
- Webinars
- Podcasts
- GPS
- Automation
- Artificial Intelligence
What technologies will be important in your business? Which ones will you adopt now? Which will you adopt later?
Complete the quiz before moving to the next lesson.