Impact of technology on business and management today
15-0784 Andrew W Rubia
ENG 112T: Advanced Writing
Submitted to Mrs. Caroline Rugendo
Department of Languages and Performing Arts
School of Communication, Language and Performing Arts
Date of submission: November 29th 2015
Technology should be embraced in Business and Management
Technology has a positive impact on Business and Management because it has enabled faster and more efficient business transactions, allows keeping of better account records, provided a wider global market for goods and services and enabled analysis of market trends.
B. Background information
C. Validity of topic
D. Thesis of statement
II. Impact of technology on business and management
1. Enabled faster and more efficient business transactions
2. Enables better record keeping of accounts
3. Provides a wider global market for goods and services
4. Enables analysis of market trends
1. Increase in level of irreguralities in terms of privacy and spam.
2. Increase in unemployment
3. Losses are of a higher magnitude
III. Methods of reducing negative impact.
1. Better training of the involved personnel
2. Implementation of better security measures
3. Upgrading of systems
According to Ferrel, Geoffery and Ferrel (2009, p.563) technology is defined as the application of knowledge including the process and procedures to solve problems, perform tasks and create new methods to obtain desired outcomes.
Business is defined as individuals or organizations who try to earn a profit by providing products that satisfy people’s needs. In this context the term product means a good or service with a tangible or intangible characteristic that provides satisfaction and benefits. (Ferrel et al., 2009, p.4).
Management is a process designed to achieve an organization’s objectives by using its resources effectively and efficiently in a changing environment. (Ferrel et al., 2009, p.558).
Business is no longer a simplistic activity as it was before the intrusion of technology in the late 19th century. It was an easy process of buying and selling goods and services in order to get a profit. These days it has become more complicated as technology now plays a major part in the organizational and managerial aspects of business.
In this time and age almost every activity we partake in has some aspect of technology in it. Business and management have not been left behind in terms of technological advancements which have led to drastic changes in both sectors. In most cases today the level of technology one has in his/her business determines the success of that business. This paper seeks to show how and why technology has had such an impact.
Technology has a positive impact on Business and Management because it has enabled faster and more efficient business transactions, allows...