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Upgrading Your Business Choice
Upgrading Your Business Choice
BUSINESS CHOICE
Upgrading…
• To upgrade means to raise all of
who you are and what you do to a
higher standard.
• Take what already exists and
maximize and improve upon it by
adding, replacing or completely
letting go of certain aspects of your
life or business. © Fortress Learning
8 Ways to Upgrade Your Life and Business
• automate
• streamline
• increase productivity and
• improve the quality of the product or service
Importance of Modern Technology to
Businesses
A. COMMUNICATION WITH CUSTOMERS
- In today’s busy business environment, it is necessary for employees
to interact with clients quickly and clearly.
- Technology simplifies communication. Websites allow customers to
find answers to their questions in a short time.
- Fast shipment options allow businesses to move products over a large
geographic area.
Importance of Modern Technology to
Businesses
B. EFFICIENCY OF OPERATIONS
- Technology helps a business understand its cash flow
needs and preserve precious resources such as time and
physical space.
- Executives can save time and money by holding meetings
over the Internet instead of at corporate headquarters.
Importance of Modern Technology to
Businesses
C. BUSINESS CULTURE AND CLASS RELATIONS
- Technology creates a team dynamic within a business
because employees at different locations have better
interactions.
- Managers can communicate with shipment coordinators
at a different location, tensions and distrust are removed.
Importance of Modern Technology to
Businesses
D. SECURITY
- Technology can be used to protect financial data,
confidential executive decisions and other proprietary
information that leads to competitive advantages.
Importance of Modern Technology to
Businesses
E. DECISION-MAKING
- Technology streamlines the decision making process
within a business.
- Digital data collection eliminates some of the fact-
checking businesses must do to combat typical human
error, again allowing decision makers to act quickly and
confidently.
Disadvantages of Technology Use in Business
A. EXPENSE
- Not all companies have the capacity to procure modern
technological advancements for business use.
- Companies can't just buy their technology once, they need to
update the technology constantly
- a company needs to pay technology professionals to assist
with and monitor that technology.
Disadvantages of Technology Use in Business
D. IMPRESSION
- Technology often gives the impression of innovation,
efficiency and progressiveness.
- Companies who don't use technology thus risk having the
public and other professionals see their company seen as
"slow" or "not keeping up with the times."
Disadvantages of Technology Use in Business
E. ETHICS
- For instance, employees may choose to surf the Internet for
personal reasons while on work duty, which commonly
happens.
- Others may purposely ignore technology procedures because
they have a personal dispute with management.
Disadvantages of Technology Use in Business
F. JOB LOSS
- Employers worldwide continue to seek reduction of the cost of
production and at the same time increase their profits. Advanced
technology offers a solution to this pursuit through labor-
displacing technology.
- Example: Automated Teller Machines take the place of bank tellers
and automated airline kiosks take the place of ticket agents.
Disadvantages of Technology Use in Business
G. INCREASE IN CRIMES
- There is a large number of abuse of computer technology to commit
crimes such as Internet hackings and theft of money through illegal
access of credit card numbers.
- Another is the theft of personal information and data from
computer hard drives for illegal gain or manipulation
References:
• https://www.entrepreneur.com/article/286870
• https://www.africanexponent.com/post/10885-how-the-modern-technology-is-used-in-business
• https://www.mycomputercareer.edu/the-importance-of-technology-for-modern-business-survival/
• https://bizfluent.com/about-6318754-disadvantage-technology-business-.html
• https://bizfluent.com/info-8074787-advantages-disadvantages-barcode.html