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  • Essay / Rise Of Technology In Business - 993

    In the 21st century, people are developing new technologies on electronic gadgets and devices. Our daily lives have changed from the age of stone to the age of technology. Everything uses technology even if a single pencil also contains its technology. Electronic gadgets and devices are used to have efficient systems that can provide multiple benefits to users. Electronic gadgets such as smart phones and tablets are being introduced to people, while computer usage is increasing almost every year. In business, some companies are taking advantage of the benefits of these technologies as part of their workplace operations. The company would develop some of the technology in its business because “new technological developments impose new demands on businesses or offer new opportunities for the development or improvement of market activities as well as products” (Lindh, The Need personal encounters). Technology has transformed old and obsolete business methods into an efficient and productive one. The rise of technology has increased business opportunities. Earlier general-purpose technologies, such as the telegraph, the steam engine, and the electric motor, exemplify a set of complementary innovations that ultimately lead to dramatic improvements in productivity (Brynjolfsson and Hitt, 2000). Today, technology is developing and changing everything in this world. From lifestyle, education, hospitality, social, military to business, all are developed by technology. For businesses, there are a lot of changes compared to the 20th century. One of the technological uses in business is the online payment system used by many parties, which saves a lot of time and energy. "The first rule of any technology used in a company is that automation applied ...... middle of paper ...... with many advantages that benefit the entire company and also bring new opportunities In conclusion, business opportunities increase when the advantages of technology are introduced into it. As we can know, filing cabinets in the work space are replaced by computer storage system, online advertising which is a new one. way of promoting products and services, a new way of communicating with employees and customers All these advantages have brought the new business model while reshaping the business opportunities in the 21st century Technology brings many advantages but also disadvantages. We must come together to identify the negative factors and effects and find pragmatic solutions to resolve them. Finally, we must use technology wisely so that everyone can enjoy the benefits of the new era and thus push our economy. country towards a new stage..