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Technology

We have been enjoying the wonders of technology for all our lives. Since we were born, us, even the previous generations. All have been seeing the technology as a wonderful helper for whole of our lives.

Did anyone ever wonder how old technology is?

Well, if we talk about recognition, technology isn’t any older than 200-250 years. This means that technology wasn’t recognized before. After literally seeing and calculating, a few facts becomes clear as certainty. Technology was present among the man kind since the day man started playing with stones.

Technology is defined as:/p>

Technology is the production of goods and services; as an outcome of a set of skillful practices, tactful methods, techniques and processes.

Another as aspect of Technology can also be defined as:

Technology is the use of methods, tact, art and techniques to accomplish a task or achieve an objective; such as: scientific research or investigation.

Business

Business is a very difficult term. It includes the whole industry within the concept of business. It is most commonly defined as:

Any enterprise of organizational entity undertaking any activity which is industrial, professional or commercial is known as Business.

However, the purpose of business is more or less about earning the profits. There is another limitation to the business is and that is the fact that it should be legal as per the states binding law.

Industry:

Often business and industry are confused for each other. The two terms are different. Scope of industry is much more than the vast scope of business. The different might be understood as:

  • Fashion and textile is an industry. However, dealing with garments in a business.
  • Similarly, Information technology is an industry. However, running a software agency is a business.

Considering them two different terms, we have understood that industry trends shape the business requirements and its future goals. However, a business can lead within an industry and industry trends are the average of all the businesses operating under the umbrella of that specific industry. Technology is one of the drivers to set up a business and to determine the industry trends or the market trends.

Technology and Business

Technology has been helping all the industry sectors for a long time. It also helps businesses in maintaining their data flow, to manage their contacts, keep a track on the processes and in maintaining the employee records.

It is technology that makes it easy for the organizations to conduct their operational task efficiently. With minimal manpower and less cost, technology is the key to run the business. Technology has also taken the responsibility to keep the sales force, suppliers and customers interconnected. Also, it provides a monitoring end to the business administration.

Let us study a bit in detail about how the technology and business are interconnected.

  • Internet Presence

  • Now a days, internet presence is more than necessary. Even though the business have nothing to do with the internet, having a website and social media pages on different platforms has become very important. It is done to capture customer’s attention and just to show that your business is stable.

    An internet presence is necessary because it gives a platform to your potential clients and existing customers to view your products and services. Also, the internet connects your business to the outside world. The internet is best tool to connect with the international market and clients. Thus, technology for a business is important.

  • Accounting

  • Almost all the businesses around the world use different software to manage their accounting tasks. Book keeping is no longer done over the registers or manual accounts. Technology has over taken the accounts department. This is easy to use and makes account management easy. Also, it makes the data and calculations more accurate.

    It helps the businesses in keeping track of the sales and sending invoices to the customers. On the employee management end, maintaining employee records and managing payroll is another hectic task that the technology has made easy.

    Such software systems are capable of doing a lot. Depends upon how they are programmed, they can send you reminders of your tasks as well. Specially, the reminders for taxation, meetings and receivables are important.

  • Security and Support

  • Businesses are important and so is their privacy. On the daily basis, the business industry in expanding and the competitive businesses are playing their part. They are in a sort of race where they have to strive to be better from their own competitors in the same industry.

    They are contributing in the research widely to make their products better. Once they start working on a new product, a time comes when its productivity and demand reaches boom level. Therefore, boom stage for one product means there is a room for a new product to be launched in the market.

    This information is highly confidential and tells a lot about an organization’s history and future aspirations. Thus, provision of security and support by the technology has helped the business industry widely.

Conclusion

The discussion so far shows the importance of technology for a business widely. Also, it supports the organizations in making crucial decisions by showing and monitoring the trends. The technology also has widely contributed in evaluating the performance.

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