impact of technology on global business

Impact of technology on global business

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With the advent of computers, a lot has changed around the globe. Business are depicting tremendous growth which predicts a good future thanks to technological advancements. Changes in technology has radicalized businesses all around the world. Computerized flight booking as well as train cargo has eased transport hence ensuring reliability in transport of goods and services.

Communication in business has been achieved thanks to technology. Probably you won’t be able to call a company miles away about ordering their products or services without a telephone. Likewise, the influence of social media platforms such as face books, twitter etc. in business cannot be underestimated. Cynthia (2013) et.al further notes that the internet makes the world smaller, large companies can now contact with employees and partners around the globe. Advertisement on the internet is evident thus boosting business.

Radio frequency technology has revolutionized business. Small gadgets called microchips used to store information such as price, names, quantity and up to date history of chips travel are attached onto products and this enables companies to keep track their inventory.

Evolution of microprocessors and reduction in prices of communication equipment’s has had a great influence on business in the most profound way. The cost of communication has gone down enabling people to connect to each other therefore no need to invest too much in widening their market.

It goes without say that the internet has contributed heavily on the world economy based on the global competitiveness report 2012-2013. Just imagine for a moment if the internet were to fail. An economic crisis will unfold. However the use of internet in business popularly known as ecommerce has enabled companies to operationalize their services over the internet. Many companies now use email servers to send e-mail messages within an organization’s office or branches. Websites are now becoming an avenue through which companies update their products and sell online as well as receive information from customers about their products.

Conclusion

In conclusion the information technology has had a greater influence on businesses that essentially make them inseparable entities. The desire to impress technology and in business is certainly way to go.

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