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Effect of technology on the world
Effect of technology on the world
The role of innovation in business
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case summary
“Running the Business from the Palm of Your Hand”, explains the substantial impact technology has in the world today. It demonstrates how various businesses, big and small, from different industries incorporate simple handheld technology in their operations to increase their profits or to gain a competitive edge. The fast-paced inventions of technology went from numerous communication channels such as e-mails and instant messaging to more technologically advanced systems like analytical interfaces and specific diagnostic monitoring tools. Due to the technological advances, companies are adapting to more modern technology to run their company more efficiently. For example, the owner of Jackson’s Kayak is able to use the Wi-Fi on his iPad to connect to headquarters to analyze customer data while remaining in the comfort of his RV. His handheld device enables him to literally take charge of his company in the palm of his hands. Innovative companies such as Ceridian capitalized on the idea that the majority of their target market had access to handheld devices, thus, they launched a payroll app called “Powerpay” which allows its customers to interact with payroll data on their mobile phones. Cellular devices had become a trend in the business world today for efficiency and effectiveness in many outstanding companies. The
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They can demand products from suppliers and track inventory and consumer trends. Overall, applications improve operational efficiency and decision making because information can be sent out and received quicker digitally so newer information such as consumer tendencies can be used to make more affirmative
The ability to record information which is relevant to a product and service will help ensure an exceptional customer experience. The ability to access this information anywhere in the world is also key to supporting the customer. (http://www.cio.com/archive/ec_blueprint.html) Wireless devices such as laptops,
Compared with the rate of many decades before, the rate of mobile usage is zooming these days. The developments of general economy and technology revolute peoples’ life styles and bring mobile business into a new page. Nowadays, business trends could still make a huge difference in those mobile companies.
In the last decade, wireless communications technology has grown rapidly in the global business community. The convergence of two key wireless technologies- mobile wireless communications and the internet has presented a plethora of opportunities for organizations through mobile business hereinafter referred to simply as m-business. M-business is a new business model which utilizes the internet for data/voice transmission through the deployment of wireless devices like smart phones, tablets and e-purses (Gartner, n.d. ). According to Picoto, Belanger and Palma-dos-Reis (2013) m-business has revolutionized the way organizations conduct business as customers are increasingly resorting to m-business. This pragmatic shift can be explained by the reliance on mobile devices for example smart phones to shop online. Undoubtedly, the market for m-business is on an upward growth curve with forecasts establishing higher global uptakes in coming years (Picoto, Belanger, & Palma-dos-Reis, 2013). With such high growth potential, one cannot help but ask what value m-business holds for contemporary organizations?
Data can give you quite a bit of information about your customers. By examining it, you will be able to begin to see patterns and learn the habits of your customers. This could mean that you are able to provide the correct number of products at the perfect time instead of having a shortfall or being left with additional stock long after interest has fallen in the product.
Telecommunications gained mainstream attention in the early 90’s; however the initial key market was business men and women, who used their phones whilst being on the move and so allowing them to communicate with their companies with ease. Though in the modern era, telecommunication went through segmentation in the market trends, and now in this day and age it would be difficult to find someone who does not own some form of mobile technology. Many phone providers battle to provide the best service for their customers (Figure 1).
All companies obtain information on their customers or on their product. All these information may help a business to develop new strategies. They can also forge ahead by treating these big data. All companies have in their possession those information, so use it can be very useful. A company can identify for example their weaknesses and can improve their strategy to become the best on the market. It will help to create more opportunities for the company and maybe create a real competitive advantage.
Thus, customers can get and receive information from each other instead of communicating to the corporations or the companies and as result they can easily spread information about company products as well as information about new arrivals
Improve the efficiency of the business: CRM helps them to eliminate redundancies in their marketing campaigns by allowing them to intuit which stage of the purchasing process each returning customer is in. They can send out marketing materials that are targeted to specific interests and purchasing abilities, rather than transmitting general messages that are far less likely to generate an optimal amount of attention. Their CRM system also collects and organizes a vast amount of data about the individual and the customer groups which helps them to know about customer interest and choice. And thus they speed up their service of customer
Customer Relationship Management (CRM) is another field where A.I. is used. There is no doubt that the internet has changed the way that businesses and corporations interact with their customers, and A.I. helps by offering a myriad of data about the customersuch as their demographics and purchasing history. A.I. offers analytics in real-time, greatly benefitting the company as it works to improve its marketing and ultimately its profits.
Business involved by two or more members of the family and is owned within the family is the simplest way to define family business. In this type of business the positions in the company is filled according the family blood. The founder of the business is usually the skull of the company, the rest of the positions are taken place by the family member which are usually higher positions where else other positions are filled by non family members.
The year is 2014, the markets are changing constantly, and they always have to meet the needs of new consumers as well as old consumers. Mobile telephones have been in the retail and wholesale business for quite some time, and are only evolving from here on out. There are things that these cell phones can bring us that are major benefits in our everyday lives. Cell phones bring us maps, radios, address books, and even flashlights now. Cell phones have taken shape from a huge portable device to a more convenient thin device that can fit in your pocket. With time in any consumer market, the consumer adapts to the technology that makes their life easier. The constant innovation of cell phones has led us to smart phones, and these smart phones are capable of putting certain businesses out of the market. Businesses that engineered PDAs in the past were met with challenges because smart phones are able to match their productivity. Land lines have become useless since everyone can afford a mobile device now. Listening to music has also switched from a traditional CD Player/MP3 Player to an everyday smart phone.
The advancement in technology across the world is a major cause of the changes in the workplace. For instance, the advancements in computers are astounding. Mainframe computers have given way to personal computers, then laptop computers, and now hand-held tablets. Findings of a study by IDC, a market research company, showed that by 2015 more people will be connecting to the Internet using tablets, smart phones, and other mobile gadgets compared to those who use the Internet through their desktop computers (Schroeder). Cell phones have also seen a revolution by becoming faster, more efficient and more feature-rich. It is even possible to check email on the way to work using a handheld device. A Nielson fact sheet outlining the usage of various devices in America shows that “there are 223 million cell phone users over the age of 13, and 25% of the mobile devices sold during Q3 of 2009 were smart phones. That is estimated to go up to between 40-50% during 2010” (Heimbuch). Individuals can text, status update, tweet, or reach other seamlessly by mobile devices that can fit in their pockets. Even the printed word may become obsolete according to Aaron Bradley, as outlined in his online article called “A Modest Proposal for Newspapers in the 21st Century.” In his article, he discusses how the printing of newspapers is be...
The integration of a variety of information systems into business operations is necessary for growth in the dynamic business environment. These information systems can be minimized and fixed into mobile devices such as smartphones. The use of smartphones can play an important role in supporting business processes and operations, developing strategies for competitive advantage and decision making. These smartphones allow employees to be linked to the office, its data and resources, without being in the office. The use of smartphones for business processes can make the business more efficient and effective. They make it easier for co-workers to communicate among themselves and facilitates better communication between the business and its employees, customers, suppliers and even other businesses, and makes it possible in real-time. For CPS Energy and Lloyd’s Construction, although they were doing well, they realised that they could do much better. They needed to find new ways to further cut costs and maximize profitability. They both decided that the best way to do that was through the introduction of smartphones in their business operation.
In today’s world the vast majority of the population owns a cell phone. Cell phones are a huge part of people’s everyday lives. Since the 1940’s when mobile phones became available for automobiles, phone companies have made huge strides in making mobile phones more efficient, much smaller, and more available for anyone to use. There was a time where only people of wealth had these types of mobile phones. Now people from all social classes own a cell phone. They are extremely convenient and have the ability to do just about anything you can think of. There is an “app” for everything. You can make phone calls, text message, surf the web, pay your bills, read books, catch up on social media, and even listen to you music all from one small handheld device. Cell phones play a huge role in today’s economy. Businesses such as AT&T, Verizon, and Sprint have become huge public corporations with large stakes in the stock market. Between these companies among several other phone companies they have created millions of jobs and opportunities. Cell phone companies have now created what are known as “smart phones”. These phones are typically slim and sleek and have countless versatile abilities. However, cell phones have not always been so “smart” or small for that matter.
Advances in technology have changed businesses dramatically, in particular the communication and information technology that are conducted in firms, which changed the appearance and pace of businesses over the past few decades. ICT in particular, has evolved a lot over the past 30 years; important information can be stored in computers rather than being in drawers enabling information to be transferred at a greater volume and speed (Guy, 2009). ICT has also expanded various forms of telecommunications and workload conducted in businesses, internet examples of this include: e-mails can be used to communicate with others...