NAME: SHARIFAH PUTERI SURATI BT SAYID ABDULLAH NO MATRIK: S39576 GROUP: K14 TITLE: EFFECTS OF THE USE OF TECHNOLOGIES ON ECONOMY. In the last decade, computer and telecommunications industry has been advancing in many countries especially in developed countries like the United States, China, and Australia. Technology gives positive effects on business nowadays which give positive results on economic growth. This is because, technology makes everyone get connected without limit and the information can get easily in one place. In addition, technology makes every business function like accounting, human resources, marketing, sales and customer service become easier and can be done efficiently by just using technology. As a result, technology has …show more content…
As many competitors of business from many types of industries competing for the share market and reaching out to customers, technology helps many companies with business process and improve the efficiency to create new business opportunities. According to Fast Track to Success Innovation,(2009),video conferencing using the Internet allows communication between people even the other person is located far away from each other. It is like having a conversation by telephone but interestingly, being able to see the people’s face at the same time. Besides, technology gives positive influence to business innovation because the cost of doing business can be lowered. According to Birchall,(2009),companies that need to send their workers on international flights for business affair can have the greatest relief because by Internet technology ,costs can be reduced on travelling and freeing the workers ‘s time management. Hence, by using technology, business innovation can take place easier and lead to new opportunities because technology can systematically help worker ‘s time management and at the same time, the companies can lower the budget of travelling and use the budget to speed the business development. Technology and science grow together continuously with the advances of our world’s economy since the second half of the 20th century. Technology is vital in economic growth because, technology give positive affect to business and market management thus, contribute to economic growth .Hence, the effects of the use of technologies on economy are, technology positively influence to economy by giving job creation to societies , technology gives positive influence to service and industries, and , technology leads the new ways in business
The period between 1950 and 2000 displayed a remarkable change in scientific and technological innovations that ultimately impacted the U.S. economy. Advancements in computing, aerospace, and manufacturing allowed the U.S. to transform its economy and upgraded the standard of living. Today, this essay will evaluate the extent to which these innovations changed the U.S. economy by explaining the innovation’s contribution to economic growth. The growth of the computing industry was one of the main innovations that shaped the U.S. economy. The development of information technology (IT) allowed for more powerful and faster computers that allowed us to create new industries such as aerospace programs.
Question 2 Advances in technology drive a great amount of the change that occurs in business organizations. The competitive advantage in today 's business environment includes staying on top of technological advancements that impact your industry. Business strategies that include acquiring new technologies should be guided by best practices that consider the impact on the firm, customers, employees, vendors and other stakeholders. Dream Destinations has too many odds against them in such a competitive market and so technological changes must be implemented if they wish to satisfy their shareholders. Dream Destination goals must be revisited.
Explain how this is a good thing and a bad thing. Technology has positive and negative impacts. Technology has improved transportation, education, and communication. Technology has helped advance in different transportation such as road transports used by vehicles, water transports used by submarines and ships, air transports used by airplanes and jets, and space transports used by rockets and satellites. Technology has improved education by allowing more online resources, multimedia learning, tutoring worldwide, studying with others online, editing papers online, and being able to have books of your course in one device.
Technology Diminishing Our Society and Generation Technology can be defined as a collection of techniques, skills, methods and processes used in the production of goods or services or in the accomplishment of objectives, such as a scientific investigation. People of this generation have been debating on whether it has helped or harmed society. During the 1950’s, technology was being developed, but in a negative way. The atomic bomb was invented and tested at sea. This invention proved to be very deadly.
The information revolution is sweeping through our economy. No company can escape its effects. Dramatic reductions in the cost of obtaining, processing, and transmitting information are changing the way we do business. “To get ahead in today’s business world, a company must utilize the right resources. One of the most effective, of course, is information technology (IT), which has become an essential tool for businesses across many industries” (2013).
Almost everyone in the world is distracted by technology. People can not live without internet, applications, social media and others that steels much of their time. Moreover, education is being influenced by technology. Technology has its advantages and disadvantages. One of its advantages is that it makes life easier and helps people with their tasks.
1.1 Background of the Research Technology has always develop for a long time. Until today, it is still develops at a stunning pace. As a matter of fact, technology has touched every aspect of life; from the way we move by using a horse changed into automobile, from walking on the land to flying in the air and reach farther distance. The products we are using in our daily life also produced by the technology. Under those circumstances, including the economy, politics, and also society, are affected by technology.
Connectivity in developing countries enables people to participate in the digital economy thus stimulate the ecnomic impact and also enabling the transition to knowledge-based economies. The improvements in broadband infrastructure devices and general connectivity spillover to the other part of the economy and hence activating economic
It helps in most of the concerns of customers, improving and maximizing customer satisfaction, and gain customer loyalty, which will lead to the growth of the industry and more profit. The airline industry thought of coming up with a strategy that helps in finding information about the availability and cost of the flight, booking flights online, checking-in online, collecting information about each customer’s preferences, finding out which customers are most profitable, building customer loyalty by rewarding them, and increasing sales. Nowadays, almost everyone around the world is using the internet for personal use and for business use. That is why many industries are using applications that open on smart phones and tablets to make it easier, faster, and more convenient for the customers. Moreover, airlines are using e-business applications and Customer relationship management strategy, such as e-CRM which helps in managing customer relationship through the Internet, and many airlines are doing this as a separate plan to their e-business
We should not have become way too dependent on technology and let it dominates our lives. Technology has great effects on our lives. It depends on how we use the technology . If the technology is abused by humans that danger lurks in it then it will pose a threat to the humans. Therefore, technology should be a boon to us as via technology people can overcome geographical boundaries via e-mails or text messages.
The radical change and advancement in economy, as we observe today, is the result of the modern technology. It is undeniable that technology has brought a lot of benefits to the world and improved the quality of human living. However, alas, every rose has its thorns. People’s dependence on technology has affected creativity and communication.
PESTLE analysis is include of political, economic, social, technological, legal and environmental factors. PESTLE is a business tool that used by companies to track and analyse the macro environment in which the company operate. This tool is very useful which help in overall growth and development of organization after learning from the past mistake and working for future. The first factor is political factor which include such as law of land, taxation policies, rules and regulation, trade restriction and so on.
Introduction Globalisation is the process that brings together the complaints nations of the world under a unique global village that takes different social & economic cultures in to consideration. First this essay will analyse globalisation in a broader term, second the history and foundation of globalisation that were intended to address poverty and inequality, third the causes that lead to globalisation and the impact that globalisation has on the world’s economy. The participation in the global economy was to solve economic problem such as poverty and inequality between the developed and developing nations. What is Globalisation?
Technology is everywhere and we cannot escape it, it literally involves every part of our lives, whether we like it or not it affect us all. From how we work, play and live our lives, technology has created a revolution that will grow for as long as humans continue to advance in their capabilities. Technology just get better and better, what was once latest and popular yesterday is old hat today and the bottom line is technology doesn’t wait for anyone if you not keeping up with it, you will surely be left in the dust. If you compare the lifestyle of people living in the life of today’s time you will see that it is highly advanced, busy, complex and easier compared to the life of back in the days.
As we know, business industry is very important because it involve the incomes and outcomes of money flow. With the new technology, business industry such as factory, private company and shop has become more profitable with the help of various advance machines and equipments. Hundred years ago there was no machine at all and there is no such thing as electronic mail and the business run only by geographical location. The advanced of machines and equipments has made business can be run without difficulties and run smoothly. Well because of that the standard of living rise up among