Wednesday, January 8, 2020

Impact Of Technology On The Business World - 962 Words

Technology has made numerous advances in my lifetime and has become a part of our everyday life. Technology has become essential to the business world especially in small businesses. This brings up the question does technology fully optimize a small business? This is a rising debate in many businesses, but major corporations hire firms to figure out how to optimize technology in their companies. Small businesses are left to try to compete with this major problem on their own. Technology will help optimize small businesses but with the many advantages of technology there can also be drawbacks to this technology. Just in that past five technology has increased across all businesses around the world. In two separate surveys conducted in 2010 versus 2013 business owners reported a five percent increase in saying that it is crucial to keep up with the newest and fastest technology we have. That increase has brought the total up to seventy percent. This majority is one of the biggest facto rs on why I believe technology will always make a business more efficient. Small businesses have longed to compete with the larger companies, but has struggled do to the lack of technology compared to the larger companies. One of the main reasons small businesses have not upgraded their technology systems is the initial cost of this technology. Many small business owners are afraid to take the chance to upgrade their systems to better software. Thinking that the return cost will not outweighShow MoreRelatedThe Impact of Technology in the Business World631 Words   |  2 PagesThe impact of technology in the business world Technology has changed most of the world, but their effects are rarely pronounced in the field of business. The companies today use technology in almost every facet of its operation. The innovation has brought great benefits to the business world. 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