Business Communication

Technology in Business Communication

Genevieve Hedrick (Sherman)

Business 119

May 18, 2013

The Internet has revolutionized the world of business communication. Coming into the digital age has changed the way people do business and the way people communicate. From direct communications, social networking, Podcasts and Webcasts, not to mention E-commerce, cell phones, smartphones and laptops; we rely on all of these things in our daily lives to conduct business and communicate. Technological Communication has become a necessity, to which most people and businesses cannot live without. With all the technology at our fingertips, it has allowed businesses to reduce costs and improve efficiency resulting in growth for the company.

Email has become an integral part of most people’s lives. It is a fast and efficient way to communicate and it can be done from anywhere with an internet connection. Being able to send documents via email and not hand deliver or mail them has saved an incredible amount of time, energy and money for so many companies. A lot of companies now use instant messaging internally as well, which is an amazing feature in itself. The ability to be able to communicate in real time with people that are online is pretty amazing not to mention a great way to continue the flow of communication and expedite projects and decisions. Video conferencing is another incredible tool. Holding video conference meetings or screen share meetings over the internet rather than face to face is another great resource that has allowed companies to save travel expenses and the travel time. This has also allowed companies to expand and do business globally at a nominal expense.

Marketing and advertising have been greatly impacted by social networking sites. Social Networking is basically free marketing for companies that choose to take advantage. It is also a great way for professionals to build relationships and stay in touch with others in the same field using Social Networking sites such as LinkedIn.

E-commerce is the process of conducting business over the Internet, which today is standard. People buy all kinds of things online. Books, clothes, groceries, music, movies, event tickets, plane tickets, rental car reservations, and even auto purchases are now made online. The list is endless as to what can be done electronically now. It is no longer necessary to go to the store and fight off sales people when you already know what you want. You can simply order online with a few simple clicks. Now that companies are able to sell products over the internet they are not only increasing revenue, but the ability to sell products and not have the overhead of a store to run including rent, employees and utilities. It has also allowed businesses to operate globally and coordinate worldwide with consumers, distributors, and suppliers giving companies the option and flexibility to outsource as well as provide products and or services globally with ease.

We have all seen how the cell phone has evolved from an oversized brick to sleek, compact fully featured powerhouses. Cell phones offer many features from text messaging and picture messaging to GPS services and of course the ability to actually make phone calls. The ability to call someone and communicate from anywhere is amazing in itself and then you have smartphones. Smartphones are basically mini computers. They have operating systems and have the same components has a computer. The evolution of the smartphone and allowed us to take digital on the go. Phones now have mobile internet, email, text and video messaging, IM and basically about anything else you can do on your computer. With all the software available you can find an app for just about anything you want to do. I personally conduct so much business over my cell phone and tablet with access to email and apps that allow me to sign documents and edit documents as well as scan documents.

Technology has revolutionized the way we do business. It has enabled companies to communicate effectively and efficiently through the internet. It has allowed us to cut costs in several areas such as travel and employee overhead, due to increased efficiency. Ecommerce has allowed companies to conduct sales over the internet increasing customer convenience all while decreasing company overhead. Then there is the smartphone, which has been a godsend for people on the go. It has allowed executives the flexibility to be out of the office and not lose any productivity.

Article Review:

Social Media's Productivity Payoff, in Harvard Business Review discusses the economic impact of social networking sites and the potential value creation when social technologies are used to improve communication and collaboration across enterprises. According to Mckinsey & Company, over 1.5 billion consumers globally have social networking accounts and almost one in five hours online is spent on these sites. Many companies are shifting their marketing efforts toward social media not only to advertise but also collecting consumer data and observing consumer behavior and using it as the powerful research & development tool that it is. Based on numerous case studies and in-depth research, McKinsey Global Institute analyzed the potential value that could be obtained through social technologies. The potential value at stake in 4 main sectors (consumer packaged goods, consumer finance, professional services, and advanced manufacturing) amounted to 900 billion to 1.3 trillion annually, with a third contributed from applications of social technology in product development, marketing & sales, operations and customer support but two-thirds arising from using social technologies for better and more efficient communication and collaboration of knowledge workers within these functions and across the enterprise.

McKinsey estimates that “interaction workers” which includes, managers, professionals, sales people and other employees require frequent interpersonal communication and spend roughly 28% of their workdays answering, writing and responding to emails. 19% is spent trying to track down information and another 14% is collaborating with co-workers. McKinsey believes all of these activities could be completed effectively and more potentially 20-25% more efficiently using social technologies.

Like with most everything else, there is a catch. The increase in productivity and efficiency is dependent on the implementation of its use and the participation. In order to be effective the use of these technologies would need to be a part of the daily workflow and a standard procedure if you will. In order to obtain maximum participation there needs to be an open environment and a culture of sharing and collaboration. There needs to be a sense of trust and leaders will have to take the lead in using them for others to observe. Changing old mindsets and behaviors and developing a new environment of openness and sharing where there hasn’t been one before will probably be the biggest challenge.

Works Cited:

Manyika, James, Michael Chui and Hugo Sarrazin . Social Media's Productivity Payoff . 21 August 2012. 18 May 2013 <http://blogs.hbr.org/cs/2012/08/social_medias_productivity_pay.html>.