The Importance and Impact of Technology in and on the Business World

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Abstract: Home computer owners in the world today are more likely to be business owners than those without computers. This indicates that technology and computing are inseparable in the current business world. Over the last two decades, there has been an enormous boost in the number of home computers. In many varied fields, this makes computer owners invariably full to entrepreneurship. With the growth of technology, internet and computers, new methods have been developed in the processing of everyday business activities. Routine tasks would have been taking enormous amounts of time and specialization were it not for computers. In the last century, computer represents the top technology development in relation to business today. A vast…show more content…
Some of these tasks include, among others, email, inventory managing and book keeping. With the advent of the internet, the expenditure of marketing and communications has been brought down. A plethora of business opportunities for all businesses have also been opened up with the explosion of internet and e-commerce. The statistical software has enabled businesses to implement new management methodologies like the Six Sigma. It has also been possible for companies to train their employees by in-house Six Sigma programs, eventually saving a lot of money on overstress expenditure (Scott, 2005). Technology has also enabled business functions to operate on autopilot. This has opened up vast business opportunities especially for software development companies and business consultants. Outsourcing is another business trend that has opened up as a result of advancing technology. It is now very possible for a company in the United States of America to have its data entry and customer care centers in Africa (Draheim, 2010). These have improved the way business is done because companies can now serve their clients 24/7. Technology has now become an indispensable component of business today. It has become very hard to reckon of a situation where businesses can operate without computers and technology today. This is because
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