Technology is a rapid force that has taken over the world, affecting society, human, businesses and man’s daily activities.
Due to the countless experiments, test conducted and applied to it every day, we get to see different, better and new ways of using technology.
Over the years, technology has been intertwined with business successes as its involvement in them leads to a higher percentage of productivity, output and how it’s activities flow.
Some of the world’s biggest business cannot tell their success story without at one point giving honor to the introduction of technology into their businesses. Firms like Apple, Microsoft, Amazon, Facebook, IBM et al. These are firms that today rely heavily on technology for its daily activities.
Now, this connotes one thing, mixing technology in business is like taking a final cure for a disease deemed incurable…
In Nigeria, many businesses have adopted technological innovations and have restructured their work settings and deliverables around technology.
From all that has been said, we have been able to see all the good sides of technology and how it has affected the development of businesses. This tell us one good thing: Technology is good for business.
No business starts today in the world without the introduction of a form of technology to make the day to day running of activities smooth. Be it a local sales man making a call to a manufacturing company for a re-stock of certain goods, the beauty salon where you use a POS to make transactions or a simple transfer as that case maybe, you going to work and you are cash strapped, you quickly dash to use a bank’s Atm and you are good to go, you get to a bank and transact either through the teller person imputing figures and using the money counting machine, a paper slip comes out of a machine, showing the success of a good transaction, you are so hungry, you enter a restaurant and make or place your order, food is ready you eat and continue on with the day’s work.
Technology over the years has made things easy for businesses with easy computing, using codes and formulas to fix errors, having documents on small systems and servers, collation of online receipts, sending of e-mails and chats and phone calls et al
Businesses are affected by changes in the technological environment. Technology is simply the application of knowledge to control or change our environment…. Some businesses can leverage changing technology to improve products and processes or even create new products and processes that will expand markets and profits.
Technology has paved the way for the growth of start-ups to stay ahead of existing businesses, this is because they have been able to understand the effects of technology on their accelerated growth in the business world.
There are some group of people in the status quo are afraid that the rapid acceptance of technology into business might resolve in a crashing effect and as such remaining members of the status quo by doing business in traditional and simple ways…
With the world being a global market now, it is quite advantageous for businesses to grasp the hold of technology and ride on its wing tails, technology has been able to bridge the gap of physical, language and geographic barriers.
One thing to not as this evolution progresses is that you see a struggle for survival where business that remain members of the status quo begin to fade from existence and those who embraced the change it has to offer come out strong.
We cannot deny `that technology has not done more harm than good in the world today and the same is applicable to its impact on business…
One of effect of this evolutionary race is that lots of businesses have to keep up and in doing so obtain loans to improve their IT capacity,engaging in partnerships or out-rightly selling all their services to other companies. This has proven bad for business especially small scale enterprises who in desperation do these things and ends up losing out.
Technology helps to increase the viable ranges and options for businesses and this helps them find out useful information that help solidify their brands.
The world is evolving, shouldn’t businesses evolve with it? One way of such happening is to continue embracing the blooming romance both technology and business.