How technology has impacted the way people do business

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The impact that technology has made on business

There’s no denying that technology has changed the way we do business. In fact, the steady influx of new innovations means that this is an ongoing process. Is that a good thing or a bad thing? Perhaps it’s a little bit of both. While there are plenty of positive effects technology has had on business, it has also changed businesses in some negative ways.

How Has Business Been Improved by Technology?

Communication is Easier
One of the most obvious ways technology has enhanced business is through broadening our ability to communicate. In addition to more powerful mobile devices, we have made use of instant messaging apps and cloud technology to help us communicate with people all over the world.

People with Disabilities can Contribute
Today, a physical handicap isn’t as limiting as it was once upon a time. Software applications and new devices help people with vision, hearing, and speech impairments communicate more fully and allows them to become valued members of the team. Additionally, people confined to their homes can now find work online, so they can still pursue meaningful careers.

Lowering the Costs of Business Administration
Cloud technology in particular has helped businesses operate at a lower cost by providing virtual offices that can be accessed from any location. This means you no longer have to maintain office space for individuals who only spend 30% of their time or less on site. Real estate agents and salesmen, for instance, can share one desk in the office. This means you don’t need to lease as large of an office and you won’t have to pay the cost of providing utilities to the larger space.

Online Shopping is on the Rise
In fact, most people prefer to shop online, whenever possible. While this can be a great way to reach a larger, worldwide consumer base, it also means less people visiting your brick and mortar locations. For smaller businesses, this may mean closing up shop, when they can’t compete in the larger global market. We’ve all seen some of our favorite businesses fail as a result of E-commerce.

Most people agree that the advantages tech has given business far outweighs the negative aspects. New innovations have made it easier to open new businesses, market products, and reach out to customers, yet the impersonal nature of online interactions and the effect E-commerce has had on physical stores can’t be discounted. In the end, there is a trade-off and one which not every business is prepared to make.

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