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We
live in the era of scientific advancement and we are surrounded by technology. We
depend on technology more than we could even imagine and from day one in our
schools, we have heard people debating on one topic over and over again “Is
technology a boon or a curse to us?” Well, even great scientists can’t answer
that but your school head surely decided who debated better, not to worry we
are not here for that today. Instead, we will be discussing technology and
business together today.
“Once a new technology rolls over you, if
you’re not part of the steamroller, you’re part of the road” – Stewart Brand.
No
debate in saying technology is definitely a boon for every business. If you
even type how business success on any search engine, a thousand answers will
pop up and 999 out of those thousand will suggest being modern and using technology with business.
The
use of technology for business is growing at a rapid rate and the business
world is wholly leaning on technology now, it is nearly impossible to distinct
technology to business. Ask any businessman and he will tell you that keys to
business success are technology, marketing and business idea.
The
impact of technology on business can be noticed on the internet itself as most
of the businesses are only operating on online stores and still making huge
progress. It is not false that technology has transformed the industry around
us. It is not that businesses didn’t exist without technology in old times but
if we talk about today, it is quite impossible for any business success without
the use of technology.
Even
in the year 2020, when the whole business world was struggling by lockdowns
imposed by the government to control the spread of COVID-19, many businesses
shifted to use technology and automation of their industries. After this year,
in the next few years, 90% of the industries will be focused on taking their
businesses online and brining automation as much as possible.
Well,
if that doesn’t explain the role of technology in businesses, then nothing
will. In fact, many businesses still use automated processes instead of
employees as automated systems work more precisely and efficiently. For example,
you see the paint on your car look at how flawless it is, it is done by those
robot technologies and everything is done so precisely. You can bet it won’t be
the same if humans do it bare hand and don’t overlook the health issues. There are
many industries that need automation because the risk of human lives is far
greater there.
Thousands of startups are inaugurated on daily basis; competition is sky high for a small
business to sustain in any market. If only small business can implement the
technology correctly then only they have the chance to grow. If you listen to
business success stories, one thing will be common among them that how they
were able to overcome their competitors to scale up the processes. The best thing
technology can provide any small business is that competitive edge what was due
in older times. Any small business will only be able to compete with only small
businesses of its potential but things have changed in this internet age, any
small business can compete with the biggest of businesses around the world.
For
example, Orkut was the go-to social media platform before the introduction of
Facebook. Facebook implemented the right ideas and technology which led people
to forget Orkut and move to Facebook. Now, Facebook is the biggest social media platform in the world which was only a small community business once.
The
use of technology in any big or small business can shape the outcomes of the
business. From automation of the industry to the use of the internet to reach a
bigger audience, everything serves up pretty good to a business. People today
tend to use the internet, smart phones, apps and other technologies that forced
businesses to think smart too and stay online to find new customers.
1)
Security
Technology
can provide security to your business; most businesses in this era are
subjected to security threats and the biggest ones being the competitors who
are always looking to steal your data to outbid you. Technology in the modern
world allows you to store everything over the internet completely safe from
thieves that is crucial to your business like financial data related to your
business, client information, and other confidential data that can harm your
business if goes to the wrong hands. In short, technology is helping businesses
to keep their secrets away from everybody.
2)
Research
The
use of computers and the internet enables businesses to understand the demand
of their customers and market trends. Years ago, businesses used to hire manpower
for surveys and understanding the needs of the market and customers but now with
modern technologies, there are many apps and software which can do all this
within few minutes and minimal efforts. Even the results will be more clear and
trustworthy. The importance of research cannot be overlooked as it is the first
thing that allows any business to grow. If your research is right and you
understand the needs of your customers, then you are already on your path to
growth.
3)
Improve Agility and Productivity
With
the automation of the industries, the productivity of every business is
increased; a machine’s uptime is much more than any human. A human need breaks
to work efficiently but machines might not even warm up finishing all the
tasks. The innovations in modern technology allow many businesses to grow their
production at much higher rates than before. New Artificial Intelligence
machines don’t even require programming again and again which was a burden back
in the day. So, the agility is also not the issue.
4)
Marketing
The
internet is the biggest market in our world now, any business can commit to it
and achieve success without even bothering to enter the real market. Marketing
on the internet is way easy than any other form of marketing. The internet
enables you to market your startup business to the whole world. It provides you
with unimaginable powers to transform your business. You can read about it in
our other blogs on the same.
5)
Better Learning Techniques
Technology
is providing businesses with new opportunities for growth through better learning
techniques. There are new technologies introduced everyday which makes every
process related to the industry very easy.
The ease of doing business is increasing with these new technologies and
hence, businesses have more opportunities to grow.
“The advance of technology is based on making
it fit in so that you don’t really even notice it, so it’s part of everyday
life”- Bill Gates.
These
are the major benefits of technology in business. Although, there are thousands
more to discuss but most of you are already familiar with those. As we have
already discussed the importance of technology, we can surely say that it isn’t
a curse to any business yet. Businesses have only one goal and that is to
thrive, to achieve that without using technology is one thing next to
impossible. So, in the end, whether you believe technology is a boon or if you
believe that it is a curse to humans, there is no one to judge or argue with
you but you need to believe that it is important for your business in today’s
world and technology has become a way bigger part of our lives than we care to
admit.
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