How Technology is Changing the Face of Business Today 2 - Assignment Example

How Technology is changing the Face of Business Today How Technology is changing the Face of Business Today The introduction of technology, particularly information technology, has led to changes in business processes and transactions. Technology has transformed business activities because of its central role in facilitating the exchange of goods and service delivery. This has led to a situation where companies have been forced to adapt to the changing technological landscape (Shin, 2003). For instance, businesses such as Netflix, which offer online media content to viewers has led to a change in market competition, and the way viewers access content.

This company has also created a new segment for retailing entertainment products such as movies and television series.Technology has changed the face of business, through its ability to advance communication and reduce barriers to business opportunities. Technology has provided a platform for the transmission of crucial information for consumers and business people (Simon, 2011). The storage of information on computer files and virtual spaces has increased the accessibility of information to parties involved in business transactions.

Additionally, the use of technological approaches such as e-mails allows businesses to communicate with remotely located people, offices and customers. Netflix is one of the companies that rely on information systems to conduct its business. The most crucial business process that relies on information systems is internet video streaming. The business provides internet video streaming to internet connected devices. These devices have access to online content provided by the firm (Jin, 2011). In order to offer this service effectively, Netflix recognized the need to use information systems.

Customers do not have to purchase video discs from rental services. They only subscribe to Netflix, which gives them the content through an online platform. Technological approaches and innovations have led to changes in how businesses are conducted. Technology provides a platform for increased accessibility of information and increased ease of transacting a business. Companies such as Netflix have harnessed the abilities of technology to offer their customers exemplary services and products.

References Jin, Z. (2011). Global Technological Change: From Hard Technology To Soft Technology.Shin, N. (2003). Creating Business Value with Information Technology: Challenges and Solutions. Hershey, PA: IRM Press.Simon, P. (2011). The Changing Landscapes of Business and Technology. New York. John Wiley and Sons.