The Effect of Technology on Business - Essay Example

The Effects of Technology on Business The Effects of Technology on Business Technology has had a huge impact on business. This relates to the differences that have been experienced in the present day business world as compared to the ancient times. As argued by Aswathappa (2006, p.107), the information age is almost at its peak, leading a great percentage of businesses embracing a digital element. This trend can also be noted to have both negative and positive aspects in business. This essay shall attempt to analyze the impacts of technology on business.

In relation to communication, technology has made business transactions easier. Distant people can communicate easier through e-mails, text messages as lots of people carry internet enabled phones around (Aswathappa, 2006, p.296). Through technological communication distant people get in touch in a competent manner. However, it is arguable that this form of communication has led to individuals losing their human touch. Global and national commerce has been made more feasible through technology (Aswathappa, 2006, p.751-61). People can transact all over the world at ease as opposed to when there was no technology.

A good example is how emails can reach other individuals in seconds as opposed to when letters were sent and took long to be delivered. Technology has, consequently, made the world a small village; thus, convenient for business persons. The information age has also seen businesses embrace technological innovations such fax machines, telephone amongst others (Aswathappa, 2006, p.652). Businesses, therefore, become more flexible and efficient and most businesses that embrace the same survive and prosper.

This form of technology also increases the pace in which business is conducted, complex business are also possible as novel means of manipulating, cataloging and processing information is possible (Aswathappa, 2006, p.553). Conclusively, it is evident that technology has a huge effect on the commerce world. The business world today is clearly not the one that existed when technology was lacking. The internet, computers and other technological innovations have made business world easier and more convenient.

ReferencesAswathappa, A., 2006. International Business, 2e. Noida: Tata McGraw-Hill Education.