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Essay On Technology Changing Business Environment

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In this writing,I will explain how technology changes business environment.First,I will define technology and technological changes in economics. Technology; a unit of information, a way of thinking and the product of a reflection of the behavior of a culture is applied briefly to the production process of knowledge developed in several stages to achieve specific goals.In economics, technological change is a term used to describe the change in a set of feasible production possibilities.Technology is growing day by day and technological changes affect almost every part of our lives. Thanks to the the advances in communication and computer science, nearly anything you can imagine is only a few clicks away.Chatting with your friends and parents …show more content…

Business processes have been modified and organizations are now working much more efficiently than ever. At the same time, technology has opened a new way of communication, allowing businesses to communicate and collaborate beyond borders.It is sure for that the technology has changed business environment in an amazing way. Business technology can help businesses improve their communication processes. In business environment,time management is so important thing.Small businesses compete with large businesses by being more swift and agile. Additionally, a small business can respond to change faster than a large business. A hundred years ago, electronic mail did not exist, and the only way to communicate with someone else in another geographical location was by postal service--the farther away your client or supplier, the longer the communication took. Today, with the advent of information technology, information is shared at an astounding rate. This saves time, offering the ability to make decisions

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