The Importance of Technology In Business

A June 23, 2005 news release in the Office of Advocacy, U.S. Small Business Administration, says that home computer owners are slightly more likely to be business owners than non-computer owners. This report reveals that computing and technology has become an inseparable element in the industry world today.

The Computer Tendency – A Brief History

The last two decades have marked an enormous rise in the number of home computers. To entrepreneurship in many varied disciplines, computer owners have always taken with it. Thanks to the growth of computers technology and the Internet, new methods have been developed for processing everyday business activities easily. Minus the introduction of technology, regular jobs would have taken and enormous amount of specialization plus time. Undoubtedly, the computer represents the top technology development in the last century now, as it relates to businesses, both little and big. Advances in the field of technology have created a vast number of business opportunities.

Some Statistics

In 2003, the U.S. Small Business Administration created a report/survey that confirmed conclusively that more than 75% of small businesses owned computers and had heavily invested in new technology. Let’s try and comprehend how they contribute to improve their productivity as well as what the computers mean to businesses.

USE OF COMPUTERS IN BUSINESSES

Office Routines: Almost invariably, businesses loaded with all the burden of the pressures of being mean and lean, fall back upon technology for many of their administrative tasks and also growing workloads. This work contains, among others, inventory managing bookkeeping and electronic mail. The advent of the Internet has also substantially given in bringing down the expenses of marketing and communicating. In a nutshell, technology has reduced the overall cost of business operations.

The explosion of Internet and e commerce has opened up a plethora of chances for all types of businesses. New management methodologies, such as Six Sigma are more easy to implement due to statistical software. Also, companies are able to train their particular employees using in-house Six Sigma applications programs, and as a result, save money on labour costs.

It is now possible to have many company functions function on autopilot. It’s opened up new opportunities for software development companies and business consultants. Another company fad which has opened up as a consequence of improving technology is outsourcing. It’s now easy for a company in The Usa to have its data entry and client service facilities in overseas nations for example the UK.

Essential Elements of Small Businesses

It’s not easy to think of a situation today, where companies can do without computers and technology. It is quite hard to say whether companies depend on computers or computers created business opportunities.

Software Specific To Small Businesses

Specific powerful, yet straightforward software has come to the rescue of small businesses in opening up new stations and reducing their endeavors. Easy programs like word processing and spreadsheets helps them preserve finances, accounts and keep track of correspondence. These programs enable the users to customize reports as well as other functions to suit their unique business.

Drawbacks

Both men and women in business have adjusted to new technology. However, the SBA report mentions the typical drop in ability levels of individuals, that might eventually lead to an overall decrease in income levels. It seems that people get used doing all the work and tend to neglect their ability development. It’s up to individual firms to make sure that their workers are still in a position to do critical tasks with no help of computers, if necessary.