Importance of technology in business
Technology plays a vital role in business. Over the years, businesses have become so reliant on technology that if we were to remove that technology, virtually all business operations around the world would come to a complete halt. Almost every business and industry in the world uses computers, from the most basic to the most complex operations.
Technology played a key role in the growth of trade and commerce around the world. It is true that we have been doing business since time immemorial, long before computers existed; starting from the simple concept of barter trade when the concept of a currency was not yet introduced but trade and commerce was still sluggish to the point where the computer revolution changed everything. Almost every business depends on technology at every level, from research and development, to production, to delivery. Small to large scale businesses rely on computers to help them with their business needs, from point of sale systems, to information management systems capable of handling all types of information such as employee profile, customer profile, accounting and tracking. , automation systems for use in large scale production of commodities, package sorting, assembly lines, all the way to marketing and communications. It does not end there, all these products also need to be transported by sea, land and air. Just transporting your goods by land already requires the use of multiple systems to enable fast, efficient and safe freight transport.
Without this technology the idea of globalization would not have come true. Now all companies have the potential to go international through the use of the Internet. If your business has a website, that marketing tool will allow you to reach customers thousands of miles away with the click of a button. This would not be possible without the Internet. Technology has allowed businesses to grow and expand in ways never thought possible.
The role that technology plays for the business sector cannot be taken for granted. If we were to remove that technology, trade and commerce around the world would come to a standstill and the global economy would collapse. It is almost impossible for one to conduct business without the help of technology in one form or another. Almost all aspects of business are heavily influenced by technology. Technology has become so important that it has become a huge industry unto itself, from manufacturing computer hardware to software design and development to robotics. Technology has become a multi-billion dollar industry for various people.
The next time you browse a website to shop or swipe a credit card to pay for something you just bought, try to imagine how that particular purchase would have happened if it had been made without the help of modern technology. That might be a little hard to imagine. Without all the technology we enjoy now, it would be like living back in the 60’s. No computers, no cell phones, no internet. That’s how important technology is in business.