Ryan O. Maramba
DBA-II
Subject: Global Trends and Issues
Topics: The Impact of Technology in Business and Industry
The Impact of Consumer Behavior in Business and Industry
The Impact of Technology in Business and Industry
Introduction
Technology has revolutionized the way companies conduct business by enabling small
businesses to level the playing field with larger organizations. Small businesses use an array of
technology, everything from servers to mobile devices which is to develop competitive advantages in
the economic marketplace. Small business owners should consider implementing technology in their
planning process for streamlined integration and to make room for future expansion. This allows
owners to create operations using the most effective technology available.
The following are the Impact of technology in Business and Industry
1. Impact on Operating Costs
Small business owners can use technology to reduce business costs. Basic enterprise software
enables a firm to automate back office functions, such as record keeping, accounting and payroll.
Mobile tech allows home offices and field reps to interact in real time. For example, field reps can use
mobile apps to record their daily expenses as they incur them and have them sync automatically with
accounting software back at the office.
2. Securing Sensitive Information
Business owners can also use technology to create secure environments for maintaining
sensitive business or consumer information. Many types of business technology or software programs
are user-friendly and allow business owners with only minor backgrounds in information technology
to make the most of their tools and features.
3. Improved Communication Processes
Business technology helps small businesses improve their communication processes. Emails,
texting, websites and apps, for example, facilitate improved communication with consumers. Using
several types of information technology communication methods enable companies to saturate the
economic market with their message. Companies may also receive more consumer feedback through
these electronic communication methods.
Technology also improves inter-office communication as well. For example, social intranet
software gives employees a centralizes portal to access and update internal documents and contracts
and relay relevant data to other departments instantly. These methods also help companies reach
consumers through mobile devices in a real-time format.
4. Increased Employee Productivity
Small businesses can increase their employees’ productivity through the use of technology.
Computer programs and business software usually allow employees to process more information than
manual methods. Business owners can also implement business technology to reduce the amount of
human labor in business functions. This allows small businesses to avoid paying labor costs along with
employee benefits.
Even fundamental business tech can have a major impact on employee performance. For
example, by placing employee–performance appraisal information in an online framework, supervisors
can easily create measurable goals for their employees to reach and sustain company objectives.
Business owners may also choose to expand operations using technology rather than employees if the
