Introduction:
The advancements in technology have always been one
of the most significant changes that have been made over the years in the
business world. The advancements in technology have always had a big impact on
the way things are done in the business world. The business operations have
changed in some cases and in other cases they have totally changed. It has also
been observed that because of automation in the production departments of many
companies has made a positive impact on the total yield of the production
departments.
Taking the example of technological advancements in
the production departments we can clearly see how the auto mobile industries
have changed by introducing new technologies in their production processes
which has not only made their production processes faster but also more
accurate. There have also been many changes that have also made it very easy
for the production departments to test their products by creating extreme
artificial conditions for the car. Plus all the new cars are mostly coming with
fully computerized engines that help with the fuel efficiency plus the overall
drive as well.
Impacts
on the business world:
The business world has had many positive impacts due
to the latest technologies that have been introduced over the period of time.
The greatest impact that have been observed in the business world over the past
years is their interest in their research and development departments. Most of
the technological advancements that have been introduced are because there have
been massive technology companies have been spending billions of dollars over a
number of years to come up with latest breakthroughs in technology. The best
example for this is right in front of us by the name of TESLA. How they took
billions of dollars and so many years to come up a fully electrical car that is
totally environment friendly and as far as fuel costs are concerned they have
gone down significantly.
There have been other benefits that the business
world has been enjoying due to the advancement in technologies and some of
these benefits are mentioned below:
Latest
and creative ways of reaching out to you customers/target market:The
need for marketing has always been felt by every business organization that has
ever existed over the period of time. Although recently modern ways of
marketing are being used to create awareness amongst the target market but they
are still effective. Maybe even more effective than the traditional ways of
marketing that have been used over the years. The new ways of marketing include
social media marketing, where business organizations use the power of social
media platforms to engage with their target audiences. Social media marketing
has proven to be one of the most cost effective ways of marketing for many
business organizations. But since social media is not a trusted platform
therefore where there is an advantage of it being cost effective and a large
audience reach there is also the fact that it might not get positive feedback
due to the fact that the audience might not be able to trust you or your
product unless your business organization is very old and trusted.
There are trusted ways in which online marketing is
also being done and one of the best ways and tools that technology has given
business organizations for marketing is Wikipedia. Many businesses has been
seen to create a
Wikipedia page for their businesses so that they can reach their target
audience in the most trusted manner available.
Now, Wikipedia pages are more trust worthy as
compared to social media platforms and therefore they give a better impact on
the credibility of the business organization.
