The Impact of Technology in the Business World

Social networking connects individuals, businesses and organizations. “Social networks are the foundation of the social media because every form of social media is based on participation from a community of members” (Tuten, 2015, pg. 142). Social networking has a major impact on an organization’s marketing, products and or services. It provides the opportunity to expand businesses and communicate with their potential and current clients. Facebook, Instagram, Twitter and Pinterest are the top four social media platforms used in order to market organizations, their products or services.

Changing technology may affect the demand for a firm’s products and services but on the other hand due to technology businesses can have systems that provides faster services like the retail businesses have systems that does stock control, cash and customer service.

No matter the business to goal is to profit with little cost of attaining the profit. Technology has the most dramatic effect on business. A newer faster operating system can improve the efficiency to the company. New technology almost always offers way to make things run smoother with less chance or error and stay ahead of the competition. Not being caught up the newest technology can lead the competitor to have the upper hand. Employees will feel more confident and less likely to question the progress of the company if technology is something that isn’t lacking. The first step of the four function of management is planning. Planning cannot be done if there is not technology, much less up to date technology. Planning is a never ending step in the process, it is necessary for a company to sustain. Organizing the next step. Management must organize the structure of the business and evenly distribute the resources. Technology helps setting up and distributing the right information to the right departments. Directing, step number three requires never ending communication. This allows managers to allocate tasks to fix areas of weakness to improve and strengthen a company. Controlling is the last of the four functions. Technology helps companies establish standards, and help show ones job performance. Having this as a tool helps with areas of improvement for lower level members of a company as well as on up to the big dogs. Controlling is

Why use social media: We need to use social media in businesses today because almost everyone is constantly connected through some sort of social media. Using social media is one of the fastest ways to reach new and current consumers of any place of business. When using social media you can upload pictures, videos, and unlimited access to updates and other possibilities for advertising.

As technology has advanced and provided better and easier ways for us to communicate through using the internet and social media sites, it has also provided income potential for businesses. Companies spend money on

Over the past few years technology has caused significant changes in the way enterprises conduct business.

Most factors affect ones not only the businesses but our society as well, the way it can be affected is on high-speed Internet, computers, cell phones, and video games. Most of our society is used to these technologies in which I believe that the more technology advances the more our society wants to learn about it and want to be involved with it. However, the technology has advanced in every aspect and will continue to advance in which it has been a great help in every way to the government, economy, legal, social, and our society. Some of these factors can contribute to success more than others on how an organization manages the size, complexity, structure, multiple providers, and about measuring the outcomes of identifying the ongoing improvements to the technology and understanding technology is the key to success.

Over the years, technology has become a major part for a business and for an individual as well. Technology has become so advance that it has made a major effect for the staff as well as for the customers. New technology has helped in many areas such as data and information storage, advertising, transportation and communication.

As the above paragraph mentioned how clients search about businesses and how can they reach them by using internet. The internet is very useful for companies and helps to them to communicate with their clients, this is achieved by sending emails to advertise about the new products so the customer will find that the company is interested on him/her and updated about their latest products. This will strengthen the communication between them, from there companies will be able to build good relationships with clients. Internet did not only help communication within local companies but also with big international companies by using virtual communications. Virtual communication can be very helpful for example when holding a virtual meeting between companies in various countries when the only problem to be solved is the time difference. Companies found that it very helpful as it saves their money. And as virtual communication also saves time when companies are trying to discuss business deals, all have to do arrange a certain time and the can use applications like skype.

What are the benefits of technology for a business? There are many, some of which are outlined below:

(Sivaprasad & JangaJe, 2012): With the introduction of Information Technology in the business, every organization that comprises IT has started to take benefits of this technology. This is done by attaining the advantage over other competitors in the market, by providing new features to the customers after incorporating technology at the operational side specially, increasing the operational speed and reducing the probability for any error in operations. (Wen, 2012): IT also assists higher management in the process of decision making.

The purpose of technology in business is increased productivity and profit. The idea is use less resources and produce a considerable quantity of products. Companies with latest technological equipment can save money and time. The use of technology contribute to an effective and quick communication between members of the company and with the clients. Also the travel cost is reduce, videoconferences, virtual meetings, and instant chat allows the business people communicate without traveling. In addition, thanks to the technology owners can develop their business through the internet, for example selling the products in websites. The main disadvantage of technology in the business field is the unemployment. The tasks that were performed by humans are now carried out by computerized machines. For example, the telephone answering machines have replaced the receptionists at many companies. Consequently, the firms would have a high dependence on the technology use, if something bad happens to the system would affect the entire process of

Social media is a great asset for businesses to use to help grow the American economy. Everyone's lives run much more effectively and smoothly when the economy is thriving, and the economy can no thrive without businesses booming. A great way for the business word to stay in the up and up is by using the media. Businesses can reach out to there clienttell to advertise a product with these sites (social media in business). Staying in touch with the people is the only way to hear their thoughts and concerns The business can grow when they are able to reach out to either existing clients, or catch the attention of a new base of clientele. With an ever changing economy it is crucial that businesses stay on top of what is trending in the markets.

We cannot deny how big of an impact social media has on our lives now, not only on people but businesses too. It has opened a whole new door to the business world and given them a big opportunity to interact and attract a larger amount of customers. It’s given us a new and faster way of communication by exchanging pictures, stories, news, blogs, online discussions, etc. In exchange businesses have benefited by a long shot just by the click of a button. With the help of the Internet a company no longer is dependent on a particular customer base to survive because now it can reach out to a worldwide audience within seconds. It’s imaginable the countless business attributes of all social media to this day and still is growing. Social media

In modern society, technology has affected in every area and industries, and helped develop more advantage than tradition industries without technology. E-commerce, Customer Relationships Management (CRM) and online sales etc. are widespread use in many organisations around the word (Philip Kotler., 2013).