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The Role of Technology in Enhancing Business

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Added on  2021-05-31

The Role of Technology in Enhancing Business

   Added on 2021-05-31

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TECHNOLOGY 1The Role of Technology in Enhancing BusinessBy (Name)The Name of the Class (Course)Professor (Tutor)The Name of the School (University)The City and where it is locatedThe Date
The Role of Technology in Enhancing Business_1
TECHNOLOGY 2The Role of Technology in Enhancing BusinessThe 21st Century business processes are centered on technology advancements that are bringing forth complete revolutions in the way today’s businesses are conducted. Today, businesses use technology to acquire a competitive edge over others and achieve their strategic goals. This is to mean that businesses strategies are becoming more of technology driven. Among the technologies that are and have changed the face of the business today include but not limited to telecommunications and networking, e-commerce and m-commerce, as well as social computing.Virtually all businesses in the world have installed telecommunication and network systems in their premises. Basically, telecommunications systems consist of signal, transmitters, medium and a receiver. The technology surrounding telecommunications systems has been drastically changing over the recent past, thanks to the advancements in semiconductor knowledge, and analog communications that have been successfully replaced with digital communications. With these advancements, images and audios are represented by bits that are transported over long distances using internet protocols, microwaves, cables, wireless networks, broadband connections or satellites.These systems have given business the opportunities to transmit data faster and cheaper. From where I sit, I have found myself taking part in teleconferencing meetings, enabled by strong and high-speed networks in which I have interacted with people from various parts of the world. Such has given me opportunities to not only learn from them but also share my knowledge and experience with the rest o0f the world. Other such technologies include broadcastand interactive television, instant messaging, web-and internet communications, mail configurations and facsimile. All these technologies bring the business community closer to each
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TECHNOLOGY 3other, leading to the global village scenario. Sharing of information and ideas becomes cheaper, and faster. Other systems such as the SCADA systems control manufacturing, while CCTV systems enhance security[ CITATION AGS01 \l 1033 ]. With telecommunication systems, businesses achieve efficiency in productivity by automating basic manufacturing, production, and shipping operations. The Coca-Cola and the Pepsi companies are examples of companies that are reaping big from the installation of such systems in their production plants. With more information being filtered and made available by the system, time initially used for face-to-face communication and consultations is saved. Furthermore, decision support systems, executive support systems, and management informationsystems have ‘intelligent' capacity such that they offer sound guidance to executives when making decisions[ CITATION Mic95 \l 1033 ].Market shares for e-commerce and m-commerce are taking roots in the world, with giantslike Amazon, Alibaba and many others competing with each other for the ever-growing online customer base. Most business ventures today are seizing every possible opportunity to sell their goods and services so as to reach the internet community, in a faster, cheaper and more efficient way[ CITATION Gup14 \l 1033 ]. As a matter of fact, I have become fond of checking the online markets places and all what they offer, doing price comparisons and at times shopping right away from my home at my comfort.E-business platforms are time savers. I do not have to walk/travel long distances in searchof goods but will do so with a click of a button and all will be settled. The business to the business model of e-commerce automates transactions leading to quickened implementation and completion of transactions and hence increased efficiency in trading processes.
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