The Effects of Technology on Business

Information technology comprises the computers, servers, applications, programs and websites a company uses to enhance or improve its business operations. Technology rapidly changes as companies produce new product developments on a continual basis. Businesses implement this technology to create significant effects in operations.

Facts

The transfer of information is a significant impact of information technology in business. Companies gather information from both internal and external sources with more efficiently than in previous years. Email is now a common form of business communication that results in near-instant messages that deliver important information.

Features

Retail is a primary area transformed by the use of information technology. Companies now operate websites that allow customers to shop for goods and services 24/7. Businesses can start their operations using only an online format, transitioning into a traditional brick-and-mortar location at a later time.

Effects

Companies implementing technology into their operations can have both positive and negative effects. Companies can improve sales through websites and lower operating costs using ecommerce strategies, but this can also result in employee layoffs and fewer customer service opportunities.

References

• All Business: Technology's Impact on Business Communication Unabated
• California State University, Fullerton: The Effects of Technology on Ratail Sales, Commercial Property Values and Percentage Rents