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The Importance of Technology In Business

A June 23, 2005 news release from the Officea nutshell, technology has reduced the
of Advocacy, U.S. Small Businessoverall  cost  of  business  operations.
Administration, states that home computer
owners are slightly more likely to beNew Business Opportunities: The explosion of
business owners than non-computer owners.Internet and e-commerce has opened up a
This report reveals that technology andplethora of opportunities for all types of
computing has become an inseparablebusinesses. New management methodologies,
ingredient  in  the  business  world  today.such as Six Sigma are easier to implement due
to statistical software. Also, companies are
The  Computer  Trend  -  A  Brief  Historyable to train their own employees using
in-house Six Sigma software programs, and as
The last two decades have marked an enormousa  result,  save  money  on  labor  costs.
increase in the number of home computers.
With it, computer owners have invariablyIt is now possible to have many business
taken to entrepreneurship in many variedfunctions operate on autopilot. This has
fields. Thanks to the growth of technology,opened up new opportunities for software
computers and the Internet, new methods havedevelopment companies and business
been developed for processing everydayconsultants. Another business trend that has
business activities easily. Without theopened up as a result of advancing technology
advent of technology, routine tasks wouldis outsourcing. It is now possible for a
otherwise have taken and enormous amount ofcompany in America to have its data entry and
time and specialization. Undoubtedly, thecustomer service centers in overseas
computer represents the top technologycountries such as the UK. In this way,
development in the last century as it relatescompanies  can  service their customers 24/7.
to businesses today, both large and small.
Advances in the field of technology haveIndispensable  Components of Small Businesses
created a vast number of business
opportunities.It is difficult to think of a situation where
businesses can do without technology and
Some  Statisticscomputers today. It is extremely difficult to
say whether businesses depend on computers or
In 2003, the U.S. Small Businesscomputers  created  business  opportunities.
Administration produced a report/survey that
established conclusively that more than 75%Software  Specific  To  Small  Businesses
of small businesses owned computers and had
heavily invested in new technology. Let usCertain powerful, yet simple software has
try to understand what the computers mean tocome to the rescue of small businesses in
businesses and how they contribute toreducing their tasks and opening up new
increase  their  productivity.channels. Simple applications like
spreadsheets and word processing helps them
USE  OF  COMPUTERS  IN  BUSINESSESmaintain accounts, finances and keep track of
correspondence. These applications allow the
The fundamental reasons for the popularity ofusers to customize reports and other
computers with small businesses are theirfunctions  to suit their particular business.
efficiency, speed, low procurement cost and
more than anything else, capability to handleDrawbacks
multiple  tasks with little chance for error.
Both men and women in business have adapted
Office Routines: Almost invariably,successfully to new technology. But the SBA
businesses loaded with the burden ofreport cites the general decline in skill
increasing workloads and the pressures oflevels of people, which may eventually result
being lean and mean, fall back uponin an overall reduction of income levels. It
technology for most of their administrativeseems that people get used to technology
tasks. This work includes, among others,doing all the work and tend to neglect their
bookkeeping, inventory managing and email.skill development. It is up to individual
The advent of the Internet has alsocompanies to make sure that their employees
substantially contributed in bringing downare still able to do crucial tasks without
the costs of communication and marketing. Inthe assistance of computers, if necessary.



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