In the early 1900’s, you can bet there weren’t many that saw the future of business on the internet. The best place to shop was an old fashioned mom and pop store. Going to a store like Macy’s, in the big city, was the equivalent of a child making their first trek to Disney World.
Even if you did get to go, chances were not great that you could afford anything. From the beginning of time, there has always been a need to buy, sell, and trade goods. The evolution of business has been greatly impacted by the advancements in technology.
Some things have proven to be a great help. Others, not so great. Today, we’re going to concentrate on the help technology has been to the business world.
Hello! How are you? How many people do you think will read that greeting? Communication is the number one key to any relationship including a business relationship. In the early years of business, the best case scenario for getting as many people to read that greeting as possible would have been to carve it into a stone wall in a cave or have a flyer printed and stapled to a public bulletin board hoping passersby took notice.
In the golden age of technology, however, a business can reach almost everyone of the 7 billion inhabitants of the planet Earth with one post on the World Wide Web. Thanks to new tech, any business connected to the internet can be in constant communication with all of its customers at one time or individually.
They can send texts, emails, and robocalls (which are annoying, but can be beneficial to a business.) Advertising is as easy as kindergarten. Keeping in contact with allied companies and keeping up with the competition are forms of communication that technology has simplified for the world of business.
Another asset technology gifts to the world of business is the ease of research. Before, in order to gauge the success of a prospective product, companies had to invest painstaking time and effort into sending out countless surveys through snail mail.
The time it took to actually develop the survey, obtain the addresses, stuff the envelopes, send them off, wait for the responses, and tabulate the results was horrendous and wasted so much money. That process is now ready to go at the click of a button. Companies no longer need 20 people to head up a research department.
Also, companies have easier access to researching the competition. Thanks to the internet, it’s rare that you find a business who is selling the exact same thing as you the exact same way you are. As tech advanced, the world got smaller. It is no longer an easy feat to copy another company. This is a great help to the individual business. Especially, the smaller companies.
The Infrastructure of Business
Technology has affected every part of the growing infrastructure of a company. From how they hire people to how they sell their products. With that said, one of the largest forms of help tech offers a growing business is the assistance it can offer through other online companies. As each company joins the electronic world, its bottom line almost immediately begins to expand.
The need for more employees, more funds, and added allied companies grows with it. Here is where technology helps the most. Through the internet, a company can delegate certain tasks to other companies, such as delegating someone to take care of the smaller companies working for them.
A rather large business such as Wal-Mart will have several smaller companies under it that they have outsourced certain responsibilities to. Thanks to modern tech, there are now companies whose sole purpose is to take care of that process for the business world.
Technology can be a help or a hindrance, but as far as the world of business is concerned, the help it can offer will always outweigh the risk of the hurt.