The Impact of Technology on Business - Essay Example

Introduction United Kingdom has experienced significant changes in technology and the number of populations for the last 10 years. The changes have caused an impact on the county’s economy.. An increase in the number of industries and manufacturing firms has contributed in generating recommendable figures in the economic field of UK. The issue relating to population has been a challenging one in UK. This is because there has been an increase in the number of immigrants in the country. However, the government managed to regulate the immigration of foreigners through enacting various laws. For the last decade, the world has been hit by economic crisis and many of the European countries have experienced the threat of global recession. During this period, UK managed to remain strong through making various changes in technology and population. This paper shows how changes in technology and population have played a significant role in the UK economy. Changes in Technology Low- Carbon Technology One of the areas that UK has managed to make a significant impact after conducting certain changes for the past one decade is on low-carbon emissions (Mullins, 2011. pp. 65). This particular change in technology has enabled UK to create a new industry of which the country is able to curb most of the negative climatic changes that emerge because of carbon emission. The UK government has invested much in the clean technology industry where it is able to cut a large percentage of the carbon dioxide emitted in the air (Mullins, 2011. PP. 65). In order to achieve this obligation, the UK government managed to invest heavily on the wind power. Although the project was set to be fully accomplished by the year 2020, statistics indicates that the government enjoys various benefits along the way. For example, by the financial year 2010, the low-carbon sector had managed to grow by 4.3% towards the end of April 2011 (Mullins, 2011. PP. 65). Moreover, the UK government had managed to create about 4,500 new jobs through making significant changes in the renewable energy industry. This translates that UK managed to uplift its economy by securing jobs to some of its citizens. Moreover, the government has also managed to cut some of the costs that emerge when carbon dioxide is emitted in the atmosphere making resulting to huge costs because of negative climatic changes. Another significance importance of low-carbon technologies is that it has managed to develop a competitive edge stimulating more investments and innovations in the country therefore uplifting the economic status (Mullins, 2011. pp. 65). Juice Technology Another area of technology where the UK government has managed to make changes for the past one decade and achieved significant economic progress is in lighting industry. This particular technology entails making of light-emitting diodes that do not consume much energy compared to fluorescent lamps. The Juice technology has enabled the UK government to develop source of energy that has more life term and gives bright white. These developments related to lighting technology are made through making of lamps that usually works by induction. This means that technicians are able to make lamps clip onto a capable without necessary cutting the insulation. Finally, the cost of installation and maintenance is reduced. This has translated to increase in UK economy because of the reduction in lighting costs (Mullins, 2011. pp. 65). Mobile and Internet Technology Another area that has indicated significant improvements for the last ten years because of change in technology is on mobile and Internet usage. Telecom technology report indicates that European telecoms has indicated significant developments because UK’s improved technology and experience. UK emphasized on privatization and this contributed to improvements in network coverage. Moreover, more firms have emerged and prices fallen down for the last decade especially in the mobile-phone sector (Telecoms and technology, 2010. pp. 9). Telecom indicates that through the changes in technology form fixed-line telephony to mobile phones usage, the UK economy has shown significant improvement for the last ten years. Statistics indicates that the mobile penetration was standing at the rate of 129% by the year 2009. The numbers continued to increase after consumers got various advantages like reduction of tariffs. Telecom indicates that there is a possibility that the mobile market will reach to a percentage of about 140 by the year 2014 or 2015. This is a clear indication that changes in the telephone industry has contributed to a significant increase in UK’s economy where more than 88% adults own mobile phones according g to Ofcom (Telecoms and technology, 2010. pp. 12). Moreover, significant changes in technology have contributed UK-based Vodafone to be the world’s largest mobile operator by revenue (Telecoms and technology, 2010. pp. 14). Smart Home Technology Smart home technologies are one of the areas that have promoted the UK’s economic progress. Through the changes in technology related to smart homes, disabled people with various neurological problems are able to have an easy and independent life (Dewsbury & Linskell, 2011. pp. 249). Smart house refers to a house that has various technological devices that support patients and people who have neurological problems. Some of the devices present in smart house include a detector. The main role of this particular device is to provide security functions in the smart house. Various changes in technology for the past one decade have enabled the UK government to develop various automated functions in smart house. Some of the automated functions include the presence of modernized lighting, door, windows and curtains that offer various added advantages to the disabled people. UK has managed to make steady changes in this type of technology and gained considerable advantages. One of these advantages is that the disabled people no longer have to stay in government institution in order to access the services they acquire in smart house (Dewsbury & Linskell, 2011. pp. 251). This has enabled the UK government to make considerable savings in this sector. This has translates that the UK government has been able to uplift its economy for the last decade through the development of smart houses. Changes in Population UK’s population has significantly increased for the past one decade and resulted to an impact in the county’s economy. The main reason for the increase in UK’s population tends to be immigration. Immigrants have contributed much in the labor market in UK where they have helped in uplifting the economic status of the country (Salzmann, 2009. pp. 227). There is a significant evident that there have been an increase in immigration related to skilled and unskilled individual in UK. The issue of immigration and increase in population tends to make an impact on the country’s economy. However, it is clear that the economic impact that comes from immigration most of the time depends on the skills of immigrants. The UK government has tried to control the immigration by promoting the migration of skilled individual in the country by offering a work permit scheme (Kuptsch & Pang, 2006. pp. 83). The reason for allowing migration of the skilled individuals in the country is that most of these people tend to promote the economic status of the country through various services that they provide. Statistics indicates that immigrants in UK accounts for about 12% of the workforce (Slater & Mehta, 2008. pp. 5). One of the effects of immigration in UK is that it boosts the labor supply (Slater & Mehta, 2008. pp. 6). According to Slater and Mehta (2008, pp. 13), the modeled changes in population has been a great shock in the UK’s economy. The study that the two authors carried back in 2006 indicates that the potential output of workforce because of immigration was to be 1.5% by the end of year 2010. The two authors also figured out that employment had been growing by around 330,000 per annum. After conducting the study on the effects of population change in UK’ economy, Slate and Mehta (2008, pp. 13) figured out that immigration has played a significant part in helping to prolong the recent economic status of the country. The main reason for the significant growth is that the recent changes in population for the period of the past one decade have contributed in preventing wages form rising in response to higher energy prices (Slate & Mehta, 2008, pp. 13). Moreover, population increase in UK during the last decade has been of significant importance to the country’s economic status in the fact that the government has been able to generate more fiscal benefits. The other significant effect of population changes related to the UK’S economy is about increase in house prices. Increase in population in the UK mostly because of immigration has resulted to an increase in demand for more housing facilities (Chapman, 2011. pp. 405). The UK government has managed to achieve an economic boost for the last decade because of increasing in mortgage rates due to high house demand. Moreover, increase in population results to more family earnings. This has translated to raising the economic status of UK. Bibliography Top of Form Top of Form Chapman, R. J. (2011). Simple tools and techniques for enterprise risk management. Chichester, England, Wiley. Dewsbury, G, & Linskell, J 2011, Smart home technology for safety and functional independence: The UK experience, Neurorehabilitation, 28, 3, pp. 249-260, Academic Search Complete, EBSCOhost, viewed 8 March 2012. Kuptsch, C., & pang, E. F. (2006). Competing for global talent. Geneva, International Labor Office. Mullins, J 2011, Clean tech in stormy times, New Scientist, 212, 2844/2845, p. 65, MasterFILE Premier, EBSCOhost, viewed 7 March 2012. Salzmann, T. (2009). Demographic Aspects of Migration. Wiesbaden, VS Verlag für Sozialwissenschaften. Slater, A, & Mehta, H 2008, Migration and the UK economy, Economic Outlook, 32, 1, pp. 5- 14, Business Source Complete, EBSCOhost, viewed 8 March 2012. Telecoms and technology report 2010, Telecoms Industry Report: UK, 2, pp. 9-20, Business Source Complete, EBSCOhost, viewed 8 March 2012. 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