Role of Technology in Todays Modern Business free essay sample

Except this, technology has also improved the way businesses conduct their research effort for different purposes. Technology also opened up a whole new dimension to the way firms approach and attempt to draw attention of their current and future potential customers. IT allows production processes to take part place more effectively and efficiently minimizing wastages. Computers offer world-wide-web, a whole new world that delivers endless possibilities and opportunities for businesses to offer, sell and for other data gathering purposes. Technology plays a big role in business development and arguably communication is where technology has ascent to great effectiveness. Modern business requires modern communication technology. Any business that expects to thrive today must have at least the basic understanding of the various innovations, programs and devices as well as how to apply these technologies for communication. Communication is important for any business to co-ordinate and work out its day-to-day processes. Today technology plays a vital role in business communication in terms of collaboration, telephony, automation, social media and online media. We will write a custom essay sample on Role of Technology in Todays Modern Business or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Any business today needs effective communication within the organization. Effective communication is only viable when there is two-way communication, you send a message to receiver and receiver sends respond back to you (sender). This can be possible by using telephone, mobile messages, fax, e-mail and so on. Sometimes, businesses need to make conference calls bringing several people together and technology can help here too. Programs such as Skype or Gizmo Project offer Voice over Internet Protocol (VoIP) services that allow individuals and businesses to call places all over the world for prices much cheaper than regular landline services. Microsoft pointed out that a Forrester study done in 2006 showed that 17 percent of businesses made converting to VoIP a priority, with another 18 percent already using VoIP to some degree. VoIP allows businesses to be in near-constant communication with employees and others at a fraction of a cost. Sites such as Youtube see millions of hits a day, with online video and audio becoming extremely prevalent on websites. Businesses can capitalize by making their own media. Companies can create in-house advertisements for use on websites, webinars on the use of products that can further communicate between businesses and their consumers, and provide education. These forms of media are also available nearly 24 hours a day, so think of them as day-long commercials for your business. With the rise of social networks such as Facebook, Myspace and others, a form of crowd-based media known as social media has emerged. Businesses can take advantage of social media as another aspect of business communication, by performing such tasks as creating profiles on social networks, submitting online media to sites such as Facebook, and using websites like Twitter to answer consumer questions. Many businesses have already jumped on the social media boat, with some (Microsoft and Wal-Mart in particular) having experimented with their own social networks. You can also automate certain tasks. Years ago, sending an email of a document or backing up a computer required extensive time, thus reducing productivity. Backups can be done today with a mere click of a button and automatic emails can be sent on a routine schedule with a minimum of work. A company that works automation to its fullest advantage can concentrate on more important tasks at hand, while reducing cost and increasing productivity in the workplace, as well as optimizing success for the business itself. Without a shadow of a doubt technology has changed our lifestyles and many other activities and practices radically in a very short period of time and communication is an example how. Today you cannot exclude what technology has to offer for the business activities, if you exploit it then you’ll be able to have a healthy competition but if you ignore it, you’ll simple fall behind and end up losing.