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Running Head: BUSINESS TECHNOLOGY

Business Technology

Student’s Name

Affiliation Institution
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BUSINESS TECHNOLOGY
Introduction

Information technology is becoming the most critical aspect of day-to-day business. This

is simply because it has made a significant contribution to the way companies and businesses

workflows in levels all through in the form of communication. This is ranging from the

employees to the customers. Hence helps in making the right decisions through the use of data

provided by the help of technology. Also, new technologies in business ate always being

invented, leading to further developments that may help the employees in reaching higher

demands as well as in executing their duties faster and more flexible. 

Technologies are being used by many businesses to boost their capabilities in serving the

customers for a better output at the end. For example, most business people have the goal of

making recognition and meeting the satisfaction of their customers’ needs in the best way out.

Such technology in business tries to prove as it is an essential element of assisting them in

accomplishing their goal. This has also turned out to be a vital tool that helps the business to

develop. This also maintains its advantage of competition in the market.

Also, technology in the business can be used in many ways within the industry. For

example, this can be used in the manufacturing, in transportation, in customer care services, in

the human resource management department, in business communication, in safeguarding and

transferring business information, for product promotion and branding purposes, in the

improvement of the business services. For this to accomplish the functions effectively, there are

many types of business technology. 

Types of Business Technology

           Computers: In business technology, this is the most common type. In many businesses, it

is found to be a piece of potent and useful equipment, and it is most understood. Computers exist
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in the market in the form of desktops, screens, tablets, laptops, among others. Such machines are

loaded with necessary soft wares such as Microsoft Office as well as the significantly customized

software for the business such as ERP and MIS. They are used in activities to assist employees in

analyzing the financial reports process anal also drafting of letters, sending of emails, and memos

as well. 

Software: this is a type of technology in business that is installed in the computers for

them to provide some specific functions in the business operation. For instance, the Microsoft

Office is a software that contains tools such as MS Word, Ms excel that are useful to the business

activities. They can be used to perform many tasks in the business. Most of the companies’

responsibilities require to use such tools to deliver services to the customers. Also, Microsoft

PowerPoint enables the business activities for the preparation of professional and attractive sales

presentations fast and easy. 

Networking: Also, it’s a type of technology that is useful to the business since it helps in

the linking of computers together hence leading to the formation of a network. The network that

is created helps the employees and the staff to share information and the documents or even data

since they are stored in one convenient store. This also helps the facilitation of communication

through the use of email. Also, the network helps in enabling many computers in the network to

share the same storage system and the printer. Business management, through the technology it

can also control the network by limiting the number of computers within a shared office as well

as in a span of multiple offices and locations. Firewalls can also be installed in the system to

secure the entire network.

Accounting System Inventory Control System: This is a type of technology in the form of

software that is customized to perform accounting functions of a business. Business accounting

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systems are critical in any business as they are involved in the tracking of every coin or dollar a

business spends along with every dollar of revenue. For instance, the QuickBooks accounting

system is an excellent choice for smaller companies and is simple to install and maintain. On the

other hand, big businesses can use SAP Business One as well as Sage Accpac. This accounting

software allows integration as well as high customization with other systems.     

On the other hand, the Inventory control system is software for businesses that are

involved in sells goods. The inventory control system in an industry is essential for keeping track

of every item in its inventory. This ensures that they do not run out of stock, nor do they

overstock. The system is updated whenever new inventory arrives as well as when the goods are

sold.

           Customer Relationship Management Systems: This is a system used in the business for

the business and customer relationship. Also, the customer's experience in the market can be

tracked by the help of this system. The customers’ history of working with the business is kept in

the truck all through their engagement with the company. Once a customer’s information is

available, the system can keep account of the customer, their orders, technical support, and can

have all that information readily available to the service representative. CRM systems have

changed the way businesses and consumers cooperate.

Management Challenges

           By applying the business technology to the business, it is used to present many benefits to

it. However, several significant drawbacks make it hard for one to enjoy its tremendous benefits

to the fullest. There is a need for skilled personnel in the business when there is an introduction

to technology to the company. The professional is needed for the implementation of technology.

On the other hand, some of the staff may opt to be trained by the management to gain the
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relevant skills that are required for them to run the installed technology. Hence, the significant

risk is that this may lead to frustration and stress since the results that are expected may be

harmful, which may affect their work motivation. Due to this, it may hinder the performance of

the business negatively. 

           Since the employees are said to be taking a lot of time in the sharing of data and

information as well as in communication, it is said to be creating a massive time-wasting. This

might be a big challenge to management since it might not fully attain its objectives and goals.

Also, technology usage in remote working areas might bring new challenges. This is simply

because the employees have much limited time for them to interact with one another as well as

the managers. Due to the isolation and working independency of the workers, the management

might face a significant challenge on how to keep the teamwork and motivation of the workers.

           Also, technology brings positive impacts to the business. This is, for instance, the

technology used may lead to improved input hence increasing the sale. This occurs because of its

efficiency in analyzing the sales cycles to provide a more realistic forecast. In the marketing

factor, it is used in the collection and interpretation of data about business competitors. This

helps them to figure out what corrections to make to the business to bit out their competitors in

the market. In the finance section, this is used for a quick financial statement presentation that is

used to help in the making of more critical decisions. 

           Importantly also the technology is used by the human resource management department to

make the recruitment process where it is used to identify the qualified personnel for a given field.

It can be used in the planning and monitoring of the punctuality and the absence of the staff.

Technological Impact on Business

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In many years it has been foreseen by the experts that the machines will replace the jobs

with time since the technology is overtaking the world. This is simply because of the much that

the technology has impacted the business over the few decades down the line. Also, it can be

seen as a job creation factor since the more the innovations are made, the more employment it

creates. Due to the same technology, the internet has also improved the functionality of the

business. Through the technology today the human resource can be able to use it in initiating the

hiring process. It’s through this process they can be able to look for qualified employees from the

outside world at the cheaper cost. This enables them to reduce the cost of production since they

can operate remotely.

           Also, the reaching of the customers has been much simplified as social media has allowed

the business to interact. Many platforms will enable the many upcoming companies to sell their

ideas and also advertise themselves to their customers. This helps them to attract their potential

customers more quickly through the creation of awareness. This has much more did the small

business to compete favorably with its large competitors.

Through technology now the selling of the products and services has been made more

comfortable. The research shows that the technology has the great ability to sales tasks that

mainly maintain customer relations. This has a direct impact on sales performance since it is

identified as the customer relationship building tool. It also helps in cost-cutting between the

customers and the business. Even more importantly, the management needs to focus on the

initiation of the technology rather than relying on its improvement.

            The operations of a business can also be handled in different ways. This can be done

from home using different devices as well as from different places. Moreover, it also helps in

cost-cutting since the business meeting can be held online and, more effectively, it's time-saving.
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Since there is one point of information storage, it also prevents data and information from getting

tampered with and also makes it more secure. It also curbs the issues of security since the

technology has got many ways of creating security systems and software to be used. This reduces

the problems of theft since they can be identified easily.  

Findings 

           The use of technology has brought change to the whole operations in the business sector.

Since the customers can quickly get in touch with their producers from anywhere in the world,

this has led to the creation of more opportunities hence leading to increased profit-making. This

has led to an improvement in the production and service delivery, which has led to the improved

quality of delivery to the customers. Since there is the use of technology, this has also improved

the way the business handles its operations with ease and more effectively. This has made to

improved production with a high-quality product. 

Technology is now a real factor in the business, and it has been a problem since many

people are in a struggle trying to understand how technology works and its input. With the full

range of students seeking to equip themselves with the relevant knowledge that revolves around

technology. 

Recommendations 

           The interest of technology in business will be a significant issue. Innovations and ideas

are created daily to get each aspect being delta with more effectively. For the company to remain

to survive, it must try to adapt to the various changes that are occurring daily. This is because of

them face significant problems due to a lack of adequate knowledge of how the technology

works. However, these issues can be handled with in-depth research to support those issues

hence saving time and money. It is finding the right technology that fits the customers’ needs for
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the business to prosper. This is only possible when the transaction is well equipped with its goals

and objectives. This will help them to achieve and deliver. 

One of the most challenging problems is how to get new and the old systems being

integrated. And hence if proper research can be done on the same, it will lead to cost-saving.

Also, many of the companies that are not able to carry out the intended research will face

problems during the integration of the systems, and in the end, they will get negative results. The

material finds you will tend to take long because the methods tend not to pair to one another, or it

may even lead to the duplication of the tasks. If all the programs are put to work together, then

the business can operate more efficiently. Hence when the research is adequately done,

everything tends to run smoothly. 

Conclusion

Technology has impacted much to the business. Due to the developing technology in the

world today, the positive and the negative impacts are all inevitable. The companies work

towards the maximization of profits that have been made easier to be earned. Also, when having

a well-versed team on how to implement the system, this can lead to low costs since they can

easily integrate the system. Through this, there will be an improvement in the profits that are

made. This has enabled the customers to build a good relationship with the businesses. Also, the

success of a company depends on the way information technology and company performance. 
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References

Dorothy Leonard, & Barton William A. Kraus, (2016). Implementing New Technology.

Retrieved from: https://hbr.org/1985/11/implementing-new-technology

Fitzgerald, G., Philippides, A., and Probert, S., (1999). Information Systems Development,

Maintenance, and Enhancement: Findings from a UK study. International Journal

of Information Management.

Jason White, (2005). Wireless technology changing work and play. CNN. Retrieved from:

http://edition.cnn.com/2005/TECH/10/17/wireless.overview/index.html?iref=allsearch

Jacob, Ronal L. (2003). Structured On-The-Job Training. Berrett-Koehler Publishers.

Karehka Ramey, (2012). Use of Technology in Business. Retrieved from:

http://www.useoftechnology.com/technology-business/

Mary Sumner, (2000). Risk factors in enterprise-wide/ERP projects. Journal of Information

Technology.

Sukumari P. (2014). What You Should Know About Software Training. Retrieved from:

https://elearningindustry.com/know-software-training