impact of technology on business environment

Impact of Technology On Business

Environment

What is “BUSINESS”?An organization or a firm involved in the trade of

goods , services or both to the customers.Most of the businesses are privately owned.Now, most business is conducted over computers

or communication devices. .

IntroductionTechnology has changed the way business is done

in today’s world.Companies reluctant to deploy new technologies.Impossible to be in business without considering

the issues of technology.Has become important in almost all parts of the

business.Dependency on technology has increased.

TheoryTechnology has changed our lives.Has effect on almost every aspect of our daily life. Emergence of new equipment and gadgets.Change in communication at personal and global

level.Technology brings new benefits making cost

effective and meeting customer demands.

Contd.Technological innovations affects corporate

efficiency, culture and relationship among employees, clients, suppliers and customers leading to growth of company.

Contd.60% of technology investment is now controlled

by non-IT or business executives.

Contd.Companies rely on computers to do their various

administrative works.Saves time and paper.Decreased the cost of business operations.

Internet in BusinessBuying or selling of product to/from every part of

the world.E-mail reducing the time and money allowing

faster processing.Communication with other employees throughout

the world.

Contd.Advertise goods.Monitoring the response of

people to the product.Providing support to the customers.

E-businessConducting business over the internet.IBM being the first one to use

the term in October 1997.Buying things, transact and carry out business

functions over internet.Dell Computers reported sales of millions of

dollars from web.

E-commerceSubset of E-business.Deals with buying and selling of products.Benefits:

Reduced costs and timeImproves relationship with the trading partnersLock in customersNew markets

E-business versus E-commerceE-commerce is part of e-business.E-commerce involves money exchanges in

transactions.E-business includes in addition marketing, product

design, supply management etc.

E-BankingUser with a personal computer and a

browser can get connected to his bank’s website to perform any of the virtual banking operations.

INTERNET BANKING IN INDIARBI divided internet banking products into 3 groups:

Information Only systemElectronic Information Transfer SystemFully Electronic Transactional System

CONTD.BENEFITS:Bill Payment ServiceFund TransferCredit Card CustomersRailway PassInvesting Through Internet BankingRecharging The prepaid PhoneShopping

TelecommutingAllows employees to work from their homes.Saves time and money.Video conferencing.

Technologies UsedSABRESemi-Automatic Business Research Environment.Developed by IBM for American Airlines.Useful for reservation of seats.Developed 30 years before the Web.Evolved into Global Distribution system for travel information, reservation and transaction.

Contd.DADSDigitally Assisted dispatch System.Launched in 1980 by Fed-Ex.Wireless data network.Used to send text messages to change driver’s routes and pickup requests.Later, addition of hand-held devices called “Super Trackers”.

Contd.Wal-MartCreated an infrastructure technology.Supply chain management system reducing carrying costs of retailers and suppliers.Reducing product cost by five to ten percent compared to competitors.Testing with “Radio frequency Identification (RFID)” being done.

Joint Venture and Technology

AdvantagesCustomer RelationsBusiness OperationsCorporate CultureSecurityResearch OpportunitiesCorporate ReportsIndustrial ProductivityBusiness Mobility

DisadvantagesExpenseError and product cessation.ImpressionCommonnessEthics

ConclusionPeople have become addicted to technology.Companies need to think upon which technology

is better for the organization. How long will we continue to be addicted to

technology???