The Importance of Technology In Business

The Importance of Technology In Business

A June 23, 2005 news release from the Office of Advocacy, U.S. Small Business Administration, says that home computer owners are slightly more likely to be business owners than non-computer owners. This report shows that computing and technology has turned into an inseparable part in the world of business nowadays.

The Computer Trend – A short History

The last two decades have marked a tremendous rise in the amount of home computers. To entrepreneurship, computer owners have invariably taken with it in many varied areas. As a result of the growth of technology, computers along with the Internet, new techniques are developed for processing everyday business activities readily. Without the advent of technology, regular tasks would otherwise have taken and tremendous period of time plus specialty. Certainly, the computer symbolizes the most effective technology development in the last century as it relates to businesses nowadays, both big and little. Improvements in the area of technology have created a vast amount of business opportunities.

Some Statistics

In 2003, the U.S. Small Business Administration created a report/survey that established conclusively that more than 75% of small businesses owned computers and had greatly invested in new technology. Let’s try and know how they contribute to improve their productivity and what the computers mean to businesses.

USE OF COMPUTERS IN BUSINESSES

Office Routines: Almost always, businesses loaded with the burden of rising workloads as well as the pressures of being mean and lean, fall back upon technology for many of their administrative jobs. This work includes, amongst others, bookkeeping, inventory handling and electronic mail. The development of the Internet has also considerably given in bringing down the expenses of marketing and communication. Technology in a nutshell, has really reduced the overall cost.

New Business Opportunities: The explosion of e commerce and Internet has opened up a plethora of opportunities for all types of companies. New management methodologies are easier to implement as a result of statistical software. Additionally, companies can train their own workers using as a consequence, and in-house Six Sigma software applications, save money on labour costs.

It is now possible to get many business functions function on autopilot. It’s opened up new chances for business consultants and software development firms. Another business trend that has opened up as an effect of improving technology is outsourcing. It’s now easy to get a company in the usa to have its data entry and client service facilities in foreign countries such as Great Britain. This way, businesses can service their customers.

It’s hard to think of a situation where companies can do without computers and technology nowadays. It is very hard to say whether businesses depend on computers or computers created business opportunities.

Powerful, yet simple software that is specific has come to the rescue in opening up new stations and reducing their tasks. Easy programs like spreadsheets and word processing helps them keep track of correspondence and maintain accounts, finances. These programs allow the users to customize other functions and reports to match their particular business.

Drawbacks

Both women and men in business have adjusted successfully to new technology. However, the SBA report cites the typical decline in skill rates of individuals, that might eventually lead to an overall reduction of income amounts. It appears that folks get used to technology doing all the work and often neglect their skill development. It is up to individual companies to make sure their employees remain able to do tasks that are critical minus the aid of computers, if necessary.