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The Effects of Technology on Business

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The Effects of Technology on Business

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  • October 12, 2007
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Summary

The technological advances achieved in the past few decades have brought about a revolution in the business world, affecting nearly all aspects of working life. People can reach others throughout the world in a matter of seconds, with cost being increasingly irrelevant. Employees no longer need to be physically with their clients and co-workers; instead they can communicate effectively at home, at a distant office, across the world, and even in their car or on an airplane. With technology's penetration into every business function executives have seen first-hand how it gives them access to well-organized, quality information they can use to make better decisions, and how it fundamentally supports the day-to-day running of their business. Getting a manager to accept the new world of information technology is only part of the equation. The other part, getting employees to sign on to the new technology, requires patience and a deep understanding of human nature. Why? Because many people fear new technology. There's also a fear that new technology will either displace personnel into new and unfamiliar job functions or replace them altogether for the sake of cutting costs.

The advent of the Information Age has spawned new technologies capable of improving nearly every aspect of business. The invention of the telephone, fax machine, and more recent developments in wireless communications and video-conferencing have offered businesses more flexibility and efficiency, and those willing to embrace these new technologies found they were more likely to survive and prosper. The result is today's heavily technical workplace, where "proficiency with complex phone systems, fax machines, and often-networked computers are basic essentials." (Main) Today, business and management continue to be transformed by high technology. In order to keep pace with the increased speed and complexity of business, new means of calculating, sorting and processing information are...