Tutor’s: Sandra Elliott
Word Count: 1442
2. How more advanced technology impacts on business
3. How division of labor in business impacts on employees 4. How the extensive use of computers impacts on business 5. How internet communication impacts on business
6. How instant information impacts on business
Since the beginning of industrial revolution, people have applied advanced technology and communication to business which plays a significant role in modern economics. It is becoming increasingly difficult to ignore the rapid growth of advanced communication technology in business. Moreover, Mayo-Smith (2010) suggests that companies should incorporate the rule of using advancing communication technology to build a favorable relationship with clients. For example, use the internet, to collect full information and respond to all incoming communication. Therefore in a modern world people should use advanced communication technology to equip companies. Firstly, owing to the fast development of society, people engage in business become richer than ever, however, poverty still exists relatively. Secondly, different people hold different views about kinds of modern work. Thirdly, companies gain a huge profit from application of computer. Moreover, the internet becomes the major power in business communication. Finally, instant information is also a factor which influences business. The aim of this essay is to analyze how the positive and negative effects of advanced communication technology apply to business.
Business has become increasingly formal and international. Therefore more advanced technology is an obvious feature in modern business. Using advanced technology, quantities of work can be reduced. Moreover people can enjoy a cleaner environment in the work place. Furthermore, business is a trend of globalization which links with different countries and promote development together. For example, since China joined the WTO, the economy of China has increased dramatically. Chinese achieve opportunity to develop business globally. It makes several hundred million people rose out of poverty. Stiglize (2006) points out that China is a different developing country. China has already achieved a significant success in economic development. It can be owed to the open market to the world. In addition, Johnson and Turner (2003) support that China aims to promote the international trading system and meet the demand of goods from other states, which permits China to export and encourage an increase of people’s living standards. That is more advanced technology contributes people who works on business to be richer. By contrast, the reduction of kinds of jobs leads some people to poverty. The advanced technology allows some jobs to be replaced by machines. In addition, some businessmen promote modern practices in farming and fishing that make small farmers gain less profit than ever. As a result, when many people gain more advanced skills, it can prove ineffective due to the automation of equipment.
According to Adam Smith’s research, how division of labor can improve productivity is an important topic in economics. Smith investigated the relationship between the types of work breakdown and changed output of production process of pins, and found that the division of labor can increase productivity in business (Smith, 1723-1790). Due to the division of labor, some works become a single task in modern society. Workers just consider repeating the simple and single work every day, not as before that they should complete the entire production. There are many advantages of division of labor, for example, workers are trained in one task and specialized in this skill. Focus on strengthening the...