Impacts of Technology

Impacts of Technology

The rapidly advancing technology has come to everyone’s attention and has profoundly affected the functioning system of companies as well as businesses. Technology has mostly helped the companies to plan and integrate themselves as part of the global strategy. However, technology has both positive and negative impacts on businesses.

 

How technology help companies to differentiate themselves as part of the global strategy.

The growing technology is sweeping our economy. No business or organization can elude its impacts. Deflation of processing and transmitting information has drastically changed the way we do business. Companies want to fit in globalization. The company has to develop plans targeting on global level cost (Wible, 2016). Technology has helped companies to develop plans on strategies which will help them to compete with others. Also, technology has enabled the managers to maintain security in their firm. Perhaps through internet security.

 

Does technology help or hinder a company’s work with foreign companies?

Every workplace can benefit from technology. Technology has helped the company to work with foreign companies for its development. Companies offering the same services worldwide can transfer data from one company to another easily through technology. According to (Cutter, 2012), technology has helped the companies to track clients using tracking software. He added and said that technology has contributed to speed up the connection between one company and another. Through this, more time is saved thus more products are produced.

Conclusively, technology is advancing from one time to another. The today’s science is the technology of tomorrow. Technology has brought change in our economy.

 

References

Ahmed, U., Beck, T., McDaniel, C., & Schropp, S. (2015). Filling the Gap: How Technology Enables Access to Finance for Small- and Medium-Sized Enterprises. Innovations: Technology, Governance, Globalization, 10(3-4), 35-48. doi:10.1162/inov_a_00239

Cutter, B. (2012). An American Renaissance: How It Is Happening, How to Nudge It Along, Why We Should Care. Innovations: Technology, Governance, Globalization, 7(3), 15-24. doi:10.1162/inov_a_00136

US companies work together to provide access to clean drinking-water. (2014). Membrane Technology, 2014(11), 1. doi:10.1016/s0958-2118(14)70219-8

Wible, B. (2016). Measuring impacts of technology on growth. Science, 353(6303), 1001-1002. doi:10.1126/science.353.6303.1001-f

 

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