Technology Impact on Business and Customer - Research Paper Example

Technology Impact on Business and By Table of Contents Technology Impact on Business and Introduction 3 New Technology Impact 3 Technology Impact on Business and Customer 4 Conclusion 8 Work Cited 8 Introduction This paper presents a comprehensive analysis of some of the main features of technology and the impact of new technology on the customers. For instance, how to introduce new products to customers, offer added value services, support plans, and affiliations with technology associates and enhanced customer sophistication. The basic aim of this research is to analyze some of the main areas regarding the new technology application and its possible advantages to the business and customers. New Technology Impact Technology is changing more rapidly day by day, that helps the businesses to move further. Particularly in this century many technological developments taken place and carry on happening. However, people do not desire to relinquish following it for the reason that each individual requires to be advanced as well as obtain greatest advantage by implementing it. To accomplish it, it is initiated to utilize in all the area of life. In other words, technology is turning out to be one of the basic and vital parts of life as well as made life impractical to perform anything in the absence of it. On the other hand, it started shaping people’s lives without their management moreover illustrated its enormous influence. Briefly saying, advanced technology has certain consequences in every field and step of the life particularly in business as well as daily life (Todd). Technology Impact on Business and Customer Introduced the new product to customers Technology influences business certainly in a lot of aspects; like that improving the way of advertisement or marketing. Primarily, the technological progresses attained during the previous few decades have enormous outcomes on business products introduction or presentation to the customers across the world. Additionally, the technology facilitates to provide effective support on previously sound sales as well as marketing strategy. One of these supports is to offer direct communication among customer along with the business. For example online shopping is one of the new technology based effective approaches of introducing new products to the customers. In this scenario, if a customer pays for something that he purchased then business earns the profits. However, if sales are not made, the corporation yet has an innovative technique of introducing new products to diverse customers. It means that company is doing its marketing through the web based platform. In case of launching new products to the customers across the countrywide the web based platform facilitates in case of collecting information as well as data regarding their customer’s shopping and purchasing behavior in an attempt to build up flourishing association with their clients. Therefore, they are able to recognize what their clients selections are and how to offer them valuable products in an attempt to maintain their loyalty and attract customers worldwide (Todd (Rampur). Ways that add value through new technology to business The new technology has offered more facilities and ways in order to offer better support to the business as well to the customers. Particularly the web based structure such as eCommerce or online business has offered lots of business advantages to the customers. Particularly in case of web based business practice a company is able to enjoy more enhanced support regarding online shopping, imbursement as well as advertisement policies. All these processes require very small number of human resources and expenditures. In addition, all of these aspects definitely lead to more enhanced support for the management of the entire business dealings and transactions (BusinessKnowledgeSource), (Kristina) and (IBM). The new technology based arrangement has as well offered the businesses a better competitive benefit. In case of new and more enhanced technology based business practice the business can be capable to offer and respond more actively to any market demands as compared to the other businesses those are not practicing such technology based infrastructure (BusinessKnowledgeSource), (Kristina) and (IBM). . The new technology as well offers support to the business in case of publicizing their business product in any part of the world. The new technology based facilities plus support has undoubtedly offered huge advantages in case of advertising, plus shipping and especially dealing with payments. Now with the implementation of new technology we can advertise and sell our products all through the world (BusinessKnowledgeSource), (Kristina) and (IBM). The new technology has as well offered enhanced support in case of business products advertisement and promotions. This new technology based infrastructure has offered greater support, less expensive and more targeted products promotions through huge number of marketing and publicity mediums (Internet, TV, Radio, Mobile, etc) (BusinessKnowledgeSource), (Kristina) and (IBM). Support plan for customers This section will discuss how new technology can offer better support to the customers and business areas. The new technology based platform has offered better support and facility for creating completely screened 24x7 responses to the customers for performing transactions as well as inquiries. In addition, the automated tools and software offer customers calling services. This arrangement offers 24x7 services in case of enhanced handling and management of the customer grievances and issues. Subsequently web based safe payment and transaction systems offer better support and convenience to the customers regarding imbursements (TTU) and (IBM). The main influence of the new technology on companies is possibly the reality that the consumers or clients of companies now enjoy a better accent in the growth of diverse products and services as communication have become quicker as well as well-organized. In addition, at the present, corporations are paying attention to their clients in particular for the reason that competition has rapidly turned out to be global, gratitude to latest technology that crosses national boundaries in quick paces. In this way, the benefits of novel technology intended for businesses are as well beneficial for the clients (Kristina). The new IBM technology based solution is presently offering staff by means of immediate storehouse as well as store-base data on commodities accessibility together on stockroom as well as ledges. Moreover, all these approaches improve customer trustworthiness along with business employees’ services for an immediate customer response (IBM) and (Kristina). New partnerships with technology partners New technology offers extra value to the business customers by means of their complementary product assistance. Additionally, the reseller and new technology associates marketplace products have certainly changed the overall working and operational arrangement of the businesses. Now businesses have turned out to be more competitive as compared to the traditional practice of the business. In this way companies are capable to get benefits from more enhanced practice regarding management in addition to attracting customers worldwide. In this age of technology a business with more enhanced technology solutions will be proficient to have better business working as well as operational management. In this scenario, now business are having customer information management systems, customer relationship management systems, business communication management systems, marketing management systems, decision support systems etc. These all tools and techniques are very helpful to add great value to the overall success of the business (IBM) and (Kristina). Latest technology as well permits for small expenditures without giving-up earnings. Actually, greater profits could be attained since a company has the capability to still produce goods as well as valuable services similar to they provide, or yet superior than they offer, using fewer resources as well as using a fraction of cost in manufacturing. In addition, simple and well-organized new communication technology as well provides the possibility for businesses to obtain additional opinions regarding their goods and services from their clients, associates and dealers, offering them a faster reply time in managing customer problems, so maintaining their clients at an advantage and more trustworthy. And the entire first-class business personnel identify that a company owes its existence to the quantity of their clients and their solid fidelity (Kristina) and (IBM). Conclusion As technology has certainly made life much easier and by means of a lot of devices and capabilities, rising technology has had and will carry on to have a huge impact on the business as well as society, facilitating to make the world a safer, extra resourceful place to live on. This paper has discussed the impact of new technology on business and customer aspects. This paper has discussed some of the main areas and aspects of new technology those are creating a major influences and impact on the businesses as well as customers. I hope this paper will offer a better insight into the overall analysis of the new technology impacts on business and customers. Work Cited BusinessKnowledgeSource. Impact on business and society of emerging technology. 2010. 09 February 2011 . IBM. Understanding the Business Impact of Technology – A Board Room Imperative. March 2003. 08 February 2011 . Kristina. Advantages of New Technology for Businesses. 2011. 09 February 2011 . Rampur, Stephen. Impact of Information Technology on Business. 2011. 08 February 2011 . Todd, Jason. What is the impact of new technology in the workplace . 2011. 08 february 2011 . TTU. TECHNOLOGY SUPPORT. 27 September 2004. 09 February 2011 . Read More