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The Importance of Technology In Business

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




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