Business & Technology Essay Examples & Outline
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Business and Technology
Technology is an integral part in the development of any business. The advancements in technology have led to the creation of new ways of doing business. Initially, the developments were means of improving the business processes. However, as more methods of using technology were developed, the businesses became entirely dependent on the technology such that in the event that one takes the business technology from the picture all the enablers of business operations will be handicapped. Elimination of technology is a threat to global operations since the majority of the companies that operate on the global scale rely on the business technologies. Technology includes the processes and the hardware used to run the processes. Therefore, business technology goes beyond the common notion of information technology into all aspects that are used to run the organization. All organizations in the world use computers to run their operations. Computer usage applies in the most basic operations and complex ones alike. Therefore, technology is a tool used by the modern business firm to increase performance and efficiency.
Technology can be credited for the development of commerce and trade globally. Business processes have been taking place around the globe since the development of communal living. Development in business has been attributed to the business technology. Since technology is not restricted to communication technology. Business was conducted using the barter trade system whereby there was no development in currency. Introduction of currencies improved the business speed. However, the pace at which trade was conducted was slow. Along the way, the process of conducting business improved due to some advancements in technology. Technology has contributed to the development of business through simplification of communication, management, transport and payment. This paper will focus on how the technological advancement in the aforementioned fields has contributed to speeding up of business.
Traditionally, business enhancement was centered on the transport industry whereby the business people that controlled the best transport systems ended up being successful. Businesses developed along the major transport lines since it was easier for the businesses to control the supply of materials that they used to manufacture products and market the same products.
The developments in transport industry that enabled mass movement of bulky goods led to more production capacity since the businesses could transport their product to new markets. The initial developments in the transport industry included the invention of the wheel. This could be seen as a slight invention but it revolutionized the way the people conducted business. Production capacity of the businesses increased since they could move more goods to other places than when they were using the animal backs to transport the raw materials and finished goods. Invention of the railway mode of transport and the specific developments that increased the capacity of the business also contributed to the development of a more linked mode of transport that was capable of moving more goods over considerably longer distances than the animal drawn carts (Usselman, 2002). Developments in the shipping industry helped businesses overcome the barriers constructed by the mass waterways.
The people could now move their products to other continents. The bulk and cost of doing business decreased dramatically with the development of shipping industry. More advancement in this industry has led to the ease of movement of bulky goods between continents such that the global businesses have been built around this model (Tiffin & Kissling, 2007). Transport and transport technology has led to the creation of other auxiliary businesses that support each industry. Some of the businesses that sprung up from the technological developments include shipbuilding, logistics and good handling, and service industries. The final technological development that has driven up the business development in the world is air transport. Air transport has increased the rate at which the people travel such that there are no longer barriers to movement. As long as a person has a need to move to a certain part of the world, he can get there in less than 24 hours (Tiffin & Kissling, 2007).
The speed that comes with the air travel technology has increased the opportunities that the businesses have. The people can move to other parts of the world and conduct their businesses at those points. Therefore, the technological developments in railroad, air and waterway transport have been important determinants of the rate at which the businesses have developed over the time. Globalization and global organizations depend on the transport industry. The transport industry is also composed of various businesses. Therefore, the development in the transport industry has led to expansion of the possibilities that businesses can engage in through expansion of the reach of the companies.
The best invention that has led to the improvement of the business environment is the computer and computing technology (Davis, 2002). The onset of the technology was deemed unnecessary. Some of the leaders in the computing industry insisted that the innovation was only relevant for the big and specialized businesses. However, the developments in computing have led to the creation of an absolute demand for the computers at both home and the business. Personal computer developments have reduced the issue of time and distance (Robins, 1992). All people connected to a computer have access to information and can communicate in matters of minutes.
Computers and internet connectivity has increased the rate at which people and business handle their communication. Information is a source of power and the future of business is firmly rooted on the rate at which the businesses communicate. Information technology has led to more efficiency in the business communication. The decision can be taken with certainty since the technology allows the business leaders to collect the most accurate information and capitalize on it. The technology also allows the business leaders to compare different sources of information. In some instances, businesses have to deal with the deluge of information that affects them. To come up with the best business management approaches, the firm is forced to employ the best information management technology (Robins, 1992). For communication determines the effectiveness of the communication technology. It is imperative that the business has to ensure that it conducts its communication effectively. Technological developments allow the business to make the most out of the communication strategies that they have in place.
Management assistance packages
Information technology and the related developments have led to the creation of the business model that allows the managers to control the business operations from a single situation. In the event that the business has installed some applications such as the ERP, plans have led to the ease of management ('Business integration expands Crane technology base', 2007). The information management systems can be installed at all levels of the organization leading to more alignment of the business operations. They can also be organized to work for all levels of management. ERP systems are applicable in the development of a seamless management system. Management information systems help in the decision making process (Joshi, 2013). Data can be collected from the systems is accurate and it is collected in real time ('Business integration expands Crane technology base', 2007). The data can be used for the development of the business models and solutions to the problems that will solve the issues. In the event that the issues are systemic, the company has the capacity to assess the effect of the systemic issue on the business operations (Joshi, 2013).
One of the major development that improved the business development over the time was the invention of currency. Currency and currency management led to the ease of conducting business since it abolished the limiting factors associated with barter system of trade. Technological development has improved on the initial concept of currency by inventing innovative means of conducting business. Payments can be made instantaneously over the internet. The innovative payment systems that have been developed from technology have led to the development of the business environment in the global context.
However, in as much as the business technologies have led to new ways of conducting business, there are negative effects that have arisen due to the technological development. The information age has led to new ways of fraud that businesses have been forced to deal with. In some cases, the fraudsters have managed to run with the money since some of them are based in some of the remotest parts of the world that do not have the security measures and legal framework to prosecute internet based fraud. As a result, the businesses have been forced to bear the cost of the fraud.
Business integration expands Crane technology base. (2007). Sealing Technology, 2007(2)
Davis, M. (2002). The impact of technology on services. Bradford, England: Emerald Group Pub.
Joshi, G. (2013). Management information systems. New Delhi: Oxford University Press.
Robins, K. (1992). Understanding information. London: Belhaven Press.
Tiffin, J., & Kissling, C. (2007). Transport communications. London: Kogan Page.
Usselman, S. (2002). Regulating railroad innovation. Cambridge, U.K.: Cambridge University Press.