Technology Impact on Business Opportunities

The rise of the Internet combined with modern technological advances has reshaped the way businesses operate. The 21st century utilizes numerous electronic gadgets and devices that have created efficient systems offering multiple benefits. From a business’ organizational structure, to advertising, marketing, and communication methods, modern industries, companies, corporations, and entrepreneurs have discovered the benefits of using technology in the work place. The Internet has transformed businesses allowing communication to take place instantaneously as opposed to older, outdated methods. There is no question that technology has propelled businesses to new heights and has been a boost to productivity rather than a drain.

Organization

Technology has radically changed the way a business organizes its data and paper information. Filing cabinets, which used to be the norm in all businesses, are being replaced by computer storage systems that save time, money, paper, and trees. When it comes to comparing the benefits of storing a company’s important business documents, customer or employee information there is no doubt that saving files on hard drives or disks is the preferred route. Paper deteriorates, fades, takes up space, can be destroyed in fire and can become cumbersome to a company’s ease of operations. Saving pertinent information, including customer billing information, enables companies to create digital storehouses that may be backed up on additional drives, either physically or maintained online. These disks of information save space, are more efficient, are easy to access, and provide businesses with freedom to operate in a convenient and organized manner. Many companies have decided to go completely paper free in favor of the digital benefits offered them.


Advertising

There may be no better example of how the Internet has transformed the nature of businesses than to look at the advantages of marketing online compared to off. Computer users that frequent the World Wide Web easily recognize the abundance of ads located on individual and company websites. Whereas a television ad may cost hundreds of thousands of dollars, and reaches its target audience during specified times (when the commercial airs); and magazine ads are only viewed by a select few, ads on the Internet have the ability to broadcast your service or product 24/7 at an extremely cost effective rate. Technology has overhauled the way businesses advertise and market a product. The 21st century has welcomed numerous entrepreneurs and business owners that advertise solely online. These businesses would have practically no advertisement if they were limited to traditional marketing methods. Advertising on the Internet offers a company the ability to reach target customers 24/7, year round, and worldwide.


Communication

One of the greatest examples of how technology has reshaped businesses in the 21st century is in the field of communication. Cell phones, email, instant messaging, video conferencing with the use of web cams and chat, online conferencing applications, and fax machines have enabled businesses to communicate instantaneously and on a global scale. Online and technologically based communication systems have liberated offices, removed telephone and cable wires, replaced physical call centers with virtual connections, and are a cost effective way to reach more employees and customers. Technology has vastly improved business communications with many positive advantages enjoyed by business owners, employees, and customers.

 

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