Adapting to New Technology in Business and Management

This report discusses the challenges associated with the evolution of new high-tech technologies, such as e-commerce and social media platforms, that are creating barriers for local businesses. It also highlights the positive impact of technology on businesses.

Academic Writing for
Business and
Management

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Adapting to new technology including Ecommerce and Social Media platforms......................3
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
There are many challenges that businesses face while expanding their business in the current
difficult environment. These problems limit the smooth functioning of business operations. To
effectively deal with these issues, business need to identify the key issues and prepare
appropriate strategies. This report builds on the challenges associated with the evolution of new
high-tech technologies, such as e-commerce and social media platforms, that are creating barriers
for local businesses. However, while technology facilitates business and helps to run day-to-day
operations smoothly, it has some challenges in terms of increasing costs, changing customer
perceptions, and diminishing opportunities for local organizations. The application of new
technology has reduced the need for talent as companies use technology rather than efficient and
talented talent. In addition, customers are more likely to purchase products and services through
e-commerce platforms, and local stores and department stores face many challenges in terms of
declining market demand. On the other hand, technological evolution has also had a positive
impact on the business with many of the following challenges, including increasing current
levels of sales and profit margins and increasing brand awareness (Kvasničková Stanislavská,
2020).
MAIN BODY
Adapting to new technology including Ecommerce and Social Media platforms
The use of technology is increasing rapidly to facilitate the conduct of business activities.
Currently, companies are using advanced technologies such as artificial intelligence and robotics
to enable them to perform their daily tasks profoundly. Technology not only increases efficiency,
it also increases productivity. With the help of machines and tools, mass production is facilitated,
which is impossible for human resources. Separately, technology helps to complete tasks in a
timely manner (López-López, 2020). Today, e-commerce platforms are widely used to
efficiently carry out sales and purchases using online media. It offers viewers the possibility to
choose the right product or service from a variety of products. business can also track orders and
make online payments through other payment gateways. However, e-commerce platforms, which
have been so important and have changed the business world, have a negative impact on small
and local business units that cannot control the online presence of their products. Due to their
technology-friendly attitude, people are more likely to buy products and services through online

platforms, and local shopkeepers can no longer attract buyers. This is because when purchasing
through our online platform, our customers have a huge choice of choosing the right product and
have flexibility with regards to time and billing. Therefore, I prefer to buy from online platforms
rather than from local stores and department stores. For example, Amazon is a large e-commerce
giant that offers a variety of products on a single platform. This feature gives customers
feasibility and flexibility, but it's the other way around. It has a major impact on the revenue of
local service providers. Customers don't like going to local stores because large e-commerce
websites offer huge discount courier payment options. Company can develop innovate pages on
the social media platform which can further helps in them to increase their profit in the
marketplace. it can also helps in increasing the productivity of the business by attracting the
attention of the customers in the marketplace. so that more profit can be earned in the business. If
the company wants to earn more profit in the market then they should develop an innovate page
in the social media platform so that growth chances of the business can also get increased in the
marketplace (Heskiano, 2020).
At the moment, it is analyzed that the technology to operate the business efficiently is important,
but it requires a huge investment to assemble advanced tools and equipment in the work
environment. Apart from this, skilled and qualified personnel are required to efficiently manage
and implement the technology. The technology is not installed and can be used for a long time.
As it becomes obsolete, market research needs to be conducted at other intervals and the
technology updated accordingly. Technology improves overall efficiency and productivity, but it
also increases the likelihood of error. Providing human-like accurate results cannot be expected
from technology and software. Technology works in response to commands, so business need to
hire efficient people for technology work. Other occasional uses of technology increase the
likelihood of cybercrime and ethical issues. While using the e-commerce platform, customers are
required to provide basic information such as name, mobile number, card details and bank
details. This information can be additionally hacked by unauthorized parties. As such, there are
threats to privacy and people's privacy. In addition to this, social media platforms are used by
organizations to connect effectively with their customers. Here, companies maintain accounts on
various social media platforms, such as Facebook and Instagram, and continuously and regularly
post necessary images and information. Although social media platforms are considered an
effective method of publicity, they can also be grounds for unnecessary criticism. Because of the

organization's social media presence, customers get full transparency. They can easily explain
and share opinions via social media, visible to a large audience living in different places around
the world. Positive feedback helps us to improve our image and market reputation. Likewise,
negative comments negatively affect the overall image.
Technology adaptation has a great impact on the business through this, and it is easy to carry out
various business activities effectively. With the help of software and tools, it's easy to efficiently
maintain the data and information business need. In addition to this, it also helps us to make
technological progress to provide better service to our customers. It also gets the effectiveness of
everyday features that are very important for optimal use of available resources (Kumar, 2021).
Apart from this, the e-commerce platform has also helped to meet customer requirements in an
efficient way. The online platform allows organizations to meet the needs of buyers in a timely
and easy way, further enhancing their competitive advantage. Online media allow organizations
to effectively connect with customers as well as earn significant revenue. This is an important
method often used by organizations to increase their market share. The platform allows
businesses to meet their needs in the best way possible to provide opportunities to offer a wide
range of products and services to their customers. In the current pandemic, it's a great way to
avoid physical interactions. This further helps businesses build a loyal customer base by
providing the products or services they need at the convenience of their buyers. Technology has
also changed how we advertise and promote. Currently, businesses are increasingly likely to
employ social media platforms to expand the reach of their businesses worldwide. This can
easily lead to domestic as well as overseas viewers. It also gives marketers the comments,
reviews, and feedback they need to improve. For this reason, social media platforms are used to
handle professionally experienced e-commerce managers with relevant expertise in dealing with
social beings. Therefore, technology adaptation is very important to today's business entities, but
it also has a negative side. It's not easy to acquire It takes a huge investment to implement the
technology required for a business. Large and multinational companies can adopt these practices,
but it is not easy for SMEs to develop their technology because they require more investment. E-
commerce is also an essential method, but it has many restrictions, such as the protection of
personal information and ethical issues. In addition to this, we need competent individuals to
handle online mechanisms in order to serve our customers in a timely manner. Enterprises also
need to be careful when using social media platforms to get a positive response. Therefore,

although there are many issues related to technology adoption and implementation, the company
is adopting the latest technology that has been updated to get positive results in important ways.
Prepare important strategies to successfully handle technology adoption issues (Thaichon, 2020).
CONCLUSION
The use of technology in business today is rapidly expanding and has a significant impact on
business. There are discussions about the impact of technology, e-commerce, and social media
platforms. The implementation of the technology is being monitored, which can have a negative
impact by not only contributing significantly to productivity and efficiency gains, but also
increasing overhead, implementation and maintenance costs. Additionally, while e-commerce
and social media platforms are important to expand the reach of their business, they also create
challenges for small businesses that cannot implement these practices. In addition, the enterprise
must prepare an appropriate strategy for conducting the technical aspects to its advantage.

REFERENCES
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