Technology And Innovation In Business Essay

Introduction

Technology mostly affects every aspect of our lives. Just take a look around you and you will see how weird we are. Technologies as become an intrinsic component of our working lives (Beyrouti 2006). Thanks to the Internet, virtually anything you want can be delivered to your door in a matter of hours or days. However, as much as our personal live have changed, the business world has changed almost beyond recognition in the past few years. The advances in communication and technology and information technology have changed the pace and face of business. As information and communication travels faster and faster, the world looks smaller and smaller, and this has big implications for the way we perform business. For example, storing important documents in files on a computer rather than in the drawers as made information easily accessible. Using e-mails allows businesses to communicate and send these documents quickly to different locations around the world. Video conferencing and wireless Internet as made it very easy to work from home or anywhere in the world. Technology as made life easier, quicker and less expensive for people to communicate with one another (Beyrouti 2006). So, what exactly is the role of technology and innovation in business? In this brief we will briefly discuss the role of technology and innovation in business.

What is technology? According to Mokyr (2008) “Technology is the utilisation of natural phenomena and regularities for human purposes” (Coad and Reid 2012). Dosi (2010) also defines technology as a human-constructed means for achieving a particular end, such as the movement of people and goods, the transmission of information or the cure of a disease. Basically, technologies involve the ...

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...ebsite of the company to order a product. This is a way dell is benefiting from using technology in the business. Dell as always been one of the most profitable PC online vendor.

It is very obvious that the role of technology and innovation as an influence on Dell’s business. Dell is one of the first companies that integrated ecommerce in their sales process. Dell’s e-commerce operation began as a static page in 1994, integrated online sales features and were soon selling more than 1 million dollar a year (Netonomy 2013).

Dell’s innovative approach to online commerce (buy and customize) was a result of its business model that allowed individuals and companies to order customized computer through mail orders on the Internet. Though this the board can asses the role of technology and innovation (Netonomy 2013). Today, Dell’s innovative approach is still being used.