Analyzing the Impact of New Technologies on Business Adaption

This essay examines the impact of adopting new technologies, such as e-commerce and social media platforms, on businesses. It discusses both the positive effects, including increased online advertising opportunities, global reach, sales growth, and reduced marketing costs, and the negative effects, such as site crashes, high competition, loss of privacy, security concerns, and potential damage to company image through negative social media feedback. The essay references examples like HBSE and Tesco to illustrate these points, concluding that while these technologies offer significant advantages, businesses must address the associated challenges to ensure successful implementation and maintain customer trust and engagement. It also suggests future implications for companies to avoid the negative effects of technologies.

ADAPTION OF NEW
TECHNOLOGIES

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Positive effects on the business. ..................................................................................................3
Negative effect on business.........................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................1

INTRODUCTION
New technologies including social media platforms are being used by the every one these
days. Many companies are utilizing the technologies and developing new ways of marketing and
organisational management. Issue related to the adaption of the technology is the major problem
for many companies (Hanson and Kalyanam, 2020). Adapting new changes and technologies has
always been hard for many companies. Major issue in creating new normal of e-commerce and
social media platforms are related to social media awareness and cyber knowledge. Teaching the
employees about the new technologies is also a big task for the company. E-commerce helps the
business to grow via digital technologies but the adoption of e-commerce is very hard (Ciobanu,
and Neamţu, 2017). It includes the task such as understanding the e-commerce, aware the
employees, training of employees and creating new normal.
Social media helps the business by providing new platform for marketing and improving
the engagement with the customers. However, the adoption of social media is also a hard task.
Company need to be active all the time on social media platforms and knowledge about social
media is necessary to compete the digital market (Shearer and Mitchell, 2021). First step in the e-
commerce is E-banking. Most of the companies still use paper work for banking. Lake of
research is also an issue in adaption of e-banking services. Customer behaviour is totally
different on the social media understanding that task is also a difficult issue for the most of the
companies. This essay will discuss about the positive and negative effect of new technologies
including e-commerce and social media platform.
MAIN BODY
Positive effects on the business.
Adaption of the e commence and social media platforms has brought a great change in
the corporate world. Business started to explore themselves in different ways and the various
marketing strategies started to develop in order to interact with the customers on the social media
platforms (Osmonbekov and Johnston, 2018). These changes came with both positive as well as
negative impact on the customer and the business. Following are positive and negative effect on
the companies on adaption of the e-commerce and the social media platforms.
Many kinds of changes emerge after the adoption of the new technologies in the
companies (Sadiq ant et.al., 2020). Companies begun to raise rapidly and new ways were
developed the business.

Online Business advertising is the major positive effect on the business is that companies
got chance to advertise on the social media. This helps the business to explore on wider area as
social media is used globally. So the scope of interaction with the customer has increased.
Companies got chance to advertise and attract the customers on different platforms. Online
business advertising is the most effective way of advertisement. Most of the customers are
attracted by the companies through internet or social media platforms. Information of the
customer is also available on the social media platforms like : Facebook, Instagram and twitter.
Companies got chance to globally recognition through social media and the e-commerce
platforms. Many organizations are developing themselves online. The growth of the business has
increased due to the implantation of the new technologies such as e-commerce and the social
media platforms (Kennedy, 2018). Many customers are interacting with new companies online
through various sources including social media, blogs and the website of the companies.
One of the most positive effect of the new technologies on the companies is the growth of
the sale. New technologies provide a source to increase the business with the help of e-
commerce. People are using their digital tools for online shopping and companies that has
adopted the e-commerce are making profit through online shopping. For example- HBSE has
become very well-known company in investment banking sector with the help of digital services
provided by the bank (HBSE UK, 2021).
The cost of marketing is decreased after the adoption of the new technologies such as
social media. The main reason behind the use of social media is that it is free of cost (Voorveld
and et.al., 2018). Companies now has no issue regard to the heavy cost of advertisement. Use of
social media in advertising benefits the company most as compared to the other advertisement
sources.
Customers are more likely to purchase from a business which provide personalized
service. Personalized service with the help of social media increased the engagement of the
customers (Major Benefits of Ecommerce For Business Owners, 2021). Common types of
personalized services include promotions, loyalty programs, customized communications or
recommendations.
Use of technology by the Tesco Inc. lead to the great improvement in the company. As
Tesco started providing online shopping that increased the profit of the company. Technology
also enables a platform for marketing that results in a wide range of customer engagement.

Negative effect on business
Adaption of new technologies such as e-commerce and social media platforms also had
negative effect on the business. Use of technologies have impacted the business in many aspects.
Site crash is a common problem of e-commerce every company has to face. It results in a bad
image of the company (Vasil’eva and et.al., 2021). Company also loose the sale while the site is
crashed. People cannot make online purchase while site of e-commerce is not working. Other
negative impact of the digital technologies is that e-commerce is highly competitive companies
have to pay more for getting top in the result shown while a customer is searching for online
purchasing. For example- Amazon pays huge amount of advertisement cost in order to show
their product on the top result when a customer search for a product.
Social media also has negative impact on the business as adoption of the social media
lead to the loss of privacy of the business (Akram and Kumar, 2017). Social media can be use as
marketing but the privacy of company will no more private as social media is a public figure. E-
commerce platforms are also not secured these days, data are getting leaked.
Security is also a major issue people are concern about. If the site of the e-commerce is
not secure, people will less likely to visit the site. Security on the online platform is very
important in order to make growth in e-commerce and social platform.
Although, social networking site keeps people connected but lake of human contact may
have adverse effect people's emotion (Calati and et.al., 2019). Credit card fraud is also a major
drawback to the business on e-commerce platform. Customer face risk of identity fraud and
similar problems every time they enter their card information on the e-commerce site. If site
cannot convince that the shopping on their platform is safe and secure, they could get scared of
buying. According to the global online shopping survey 76% of population are concerned about
the security of the site before purchasing (Hlova, 2020). Tesco Inc. always prioritise the security
of the customer details so that they can have a safe and secure online shopping.
The negative effect of the social media on the business also lead to the damage on the
image of the company. Social media provides service of comment on every post. Negative
comment on the advertisement lead to the destruction of the image of the product and it is very
difficult to track the misleading or negative comment on the social media platforms. This
damage also impact the offline or in-store shopping of the particular product (Kwilinski, and
et.al., 2019). It reduces the image of the company too and company have to gain the trust again

to maintain the customer engagement. Social media platforms are used by wide range of people
over the world. So the positive or negative impact is also huge and may affect the reputation of
the business on a large scale. Tesco fall in the sale of Tesco made a great impact on the social
media users and the information spread all over the world through Facebook and twitter (Dobrin,
2021).
CONCLUSION
From the above essay it can be concluded that the use of technologies such as e-
commerce and social media platforms by the companies has a big impact on the business.
Adoption of the digital technologies also was a major issue for the business. The issue included
awareness, maintenance and the increase in the cost for adopting digital technologies. E-
commerce and social media platforms had both positive and negative impact on the business.
Use of social media by wide population gave the opportunity to the company to have a huge
marketing platform to influence the customer. However, it also had a negative impact on the
image of the business. Tesco made a great improvement in the sales and customer engagement
with the help of using digital technologies. Companies had to face various issues due to the e-
commerce and social media platforms such as lake of human interaction lead to the loss of online
customer engagement and security was the major drawback of the e-commerce platform as
people have fear of information being leaked while purchasing online. A company cannot
convince the customer on online shopping. Site crash was also a drawback to the business and
the cost of being top in the search result was also great. The competition on the online market
has increased a lot. Future Implications can be adopted by the company to avoid the negative
effect of the technologies such as content on the social media should be double filtered so that it
cannot affect that image of the business negatively. Companies should keep up with the trend on
the online platform to increase the customer engagement and company should guarantee the
secure purchasing on the e-commerce so that customer can buy without any hesitation.

REFERENCES
Books and journals
Akram, W. and Kumar, R., 2017. A study on positive and negative effects of social media on
society. International Journal of Computer Sciences and Engineering. 5(10). pp.351-
354.
Calati, R., and et.al., 2019. Suicidal thoughts and behaviors and social isolation: A narrative
review of the literature. Journal of affective disorders, 245, pp.653-667.
Ciobanu, O.G. and Neamţu, D.M., 2017. The impact and importance of new technologies in
business development in context of economic diversity. In Proceedings of the
International Conference on Business Excellence (Vol. 11, No. 1, pp. 698-710).
Hanson, W.A. and Kalyanam, K., 2020. Internet marketing and e-commerce.(Student ed.).
Thomson/South-Western.
Kennedy, C., 2018. Innovation Adoption: Adopting change management techniques to positively
impact new product diffusion (Doctoral dissertation, University of Minnesota).
Kwilinski, A., and et.al., 2019. E-Commerce: Concept and Legal Regulation in Modern
Economic Conditions. Journal of Legal, Ethical and Regulatory Issues. 22. pp.1-6.
Osmonbekov, T. and Johnston, W.J., 2018. Adoption of the Internet of Things technologies in
business procurement: impact on organizational buying behavior. Journal of Business &
Industrial Marketing.
Sadiq, W., ant et.al., 2020. Engagement marketing: the innovative perspective to enhance the
viewer’s loyalty in social media and blogging e-commerce websites.
Shearer, E. and Mitchell, A., 2021. News use across social media platforms in 2020.
Vasil’eva, L.P., and et.al., 2021, August. Digital technologies in the economy: opportunities and
threats. In IOP Conference Series: Earth and Environmental Science (Vol. 806, No. 1,
p. 012036). IOP Publishing.
Voorveld, and et.al., 2018. Engagement with social media and social media advertising: The
differentiating role of platform type. Journal of advertising. 47(1). pp.38-54.
Online references
Dobrin, D., 2021. Tesco profits fall has big impact on social media. [Online]. Available through
<https://yougov.co.uk/topics/politics/articles-reports/2013/04/19/tesco-profits-fall-it-
pulls-out-us>
HBSE UK, 2021. [Online]. Available through <https://www.about.hsbc.co.uk/>
Hlova, M., 2020. 6 types of security vulnerabilities in e-commerce and how to solve them.
[Online]. Available through <https://www.n-ix.com/6-types-security-vulnerabilities-
ecommerce-solve-them/>
Major Benefits of Ecommerce For Business Owners. 2021. [Online]. Available through
<https://www.simicart.com/blog/ecommerce-benefits/>
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