July 20, 2016
Who would have thought that technology would dictate how businesses are run and how people perceive companies. Well, these days, it seems to be the norm. If a company does not use technology in some way to further their interests, then it is deemed somewhat backwards and will find itself left behind by competitors who have jumped on the technology bandwagon.
While we do know that majority of businesses have indeed started using, and are even reliant on, technology for many things, how has this actually changed the way business is being operated these days? What kinds of changes have taken place over the years in terms of revenue streams, business growth, and business models due to the integration of and dependence on tech?
Companies rely on online portals to reach more people and to get a feel for what they want – in the past, in order for a company to find out how people perceive them and their goods, a door-to-door or mail survey is conducted. These days, companies can use online mediums to get ideas on what their target markets want from them. These same portals are also used to keep companies in touch with their clientele, and help them extend their reach. Online and technological mediums that are being used by businesses these days include social media, email marketing, websites, and a whole lot more.
Purchasing and getting information about products is literally in the palm of your hand – if you are a company that wants to get ahead of the pack, investing in a mobile app should be one of your targets. Putting your customer in touch with your business via an app they can access through their smartphones will help get you ahead of the competition. Numerous companies already have apps that make transactions easier for customers, and this is benefitting both parties tremendously. Companies can now take advantage of spur-of-the-moment purchases that are usually made while on the go, and customers can now enjoy the convenience of buying what they want and need through their phones.
Anybody who knows how to leverage technology can now run a business online – in the past, you needed massive amounts of money in order to run a business. These days, with just enough capital and some technological knowhow, you can be an online entrepreneur in a snap. In a sense, technology has leveled the playing field enough to allow small players to get into the game without having to worry about where to find a huge amount of money for capital.
Learning and teaching employees can now be done without instructors – businesses can now have people in their employ learn new skills, update what they already know, and get trained for their jobs without having to rely on another person to train them. Interactive training modules, PDF files that carry entire manuals for operating procedures, and online teaching programs can now be used to achieve what used to be a task assigned to trainers in companies. Having a library of procedural documents and training modules can help a business develop a workforce that is highly skilled and cross trained without too much added cost.