The Importance of Technology In Business

A June 23, 2005 news release in the Office of Advocacy, U.S. Small Business Administration, states that home computer owners are slightly more likely to be business owners than non-computer owners. This report shows that technology and computing is now an inseparable element in the business community today.

The Computer Tendency – A Brief History

To entrepreneurship in many diverse fields, computer owners have invariably taken with it. Thanks to the growth of computers, technology as well as the Internet, new procedures have been developed for processing everyday business activities easily. Minus the introduction of technology, regular jobs would have taken and enormous quantity of time plus specialization. Certainly, the computer represents the most effective technology development in the past century today as it relates to companies, both large and small. Progress in the area of technology have created a vast amount of business opportunities.

Some Statistics

In 2003, the U.S. Small Business Administration produced 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 to know exactly what the computers mean to companies as well as how they contribute to increase their productivity.

USE OF COMPUTERS IN COMPANIES

The essential reasons for the popularity of computers with small businesses are their efficiency, speed, procurement price that is low and much more than anything else, ability to handle multiple jobs with little chance for error.

Office Routines: This work includes, among others, stock managing, bookkeeping and e-mail. The advent of the Internet has also substantially given in bringing down the expenses of communication and advertising. The bottom line is, technology has really reduced the overall cost of business operations.

New Business Opportunities: The surge of Internet and e commerce has opened up a plethora of opportunities for several kinds of businesses. New management methodologies, such as Six Sigma are simpler to execute because of statistical applications. Also, businesses are able to train their particular employees using in-house Six Sigma software applications, and as a result, save money on labor costs.

It is now possible to possess many business functions work on autopilot. It has opened up new chances for business consultants and software development businesses. Another business craze that’s opened up as a consequence of advancing technology is outsourcing. It is now easy to get a business in The Us to have its data entry and customer service centers in foreign countries such as the UK. In this way, companies can service their customers 24/7.

Essential Components of Small Businesses

It’s tough to think of a situation where companies can do without computers and technology nowadays. It is extremely hard to say whether businesses depend on computers or computers created business opportunities.

Applications Particular To Small Businesses

Certain powerful, yet simple software has come in opening up new channels and reducing their endeavors. Straightforward applications like spreadsheets and word processing helps them preserve financing, accounts and keep track of correspondence. These programs permit the users to customize other functions along with reports to match their special business.

Drawbacks

Both women and men in business have adjusted successfully to new technology. But the SBA report cites the typical decline in ability rates of people, which may eventually lead to an overall decrease in income amounts. It seems that people get used to technology doing all of the work and often fail their skill development. It is up to individual companies to make sure that their workers remain in a position to do crucial tasks minus the help of computers, if necessary.