Technology Innovation Impact on Business
Technology Innovation Impact on BusinessMehul ShahTiffin UniversityAbstractThis paper shows how technology innovation, impact the way business is conducted today. This paper explores technologies IPADs, smartphones, internet, and RFID have benefited business. McGrath (2008) suggest internet has changed easy startup for small business and outsourcing as information is available fast and safe. The Statistical Portal suggests business such as Googles majority of revenues is generated from target advertisement. INbuissness (2015) article discusses RFID technology that helps businesses manage lean inventory, quality control and security of their product. The impact of Information Technology (TI) on business has radically changed the way employee and consumer interacts because business data is used to create, store, exchange, using information in a diverse mode such as visual images, voice, and multimedia with various applications and devices. Cell phone, Ipads, laptops, PDAs, and smartphone make it easy for business and consumer to stay connected. Low tech business such as nail salons and garbage collection companies are dependent on the internet, computer, and networks. The database is used to track ATM transaction, placing a food order at McDonalds or tracking a UPS pack. Business data is used to improve productivity, operation, processes that provide new opportunities (Ebert & Griffin, 2013).
Remote access to instant information enables portable offices by using devices such as BlackBerry smartphone or PC-style office application. Cell phone or web based conference call enables employees, customers, and suppliers to communicate from any location saves business time and travel expense. IT mobile messaging capability makes geographic no longer obstacle and employees no longer have to work only at the office or the factory. Company data can be shared over secured wireless connection, hence employee can access their files, project folders, e-mail, and voice messaging anywhere, so they are not forced to be at a desk (Ebert & Griffin, 2013). As information is available fast and reliable business are realizing how east it to outsource jobs overseas. Outsource refers to hiring employees who work outside the company or remotely even outside country. Business outsources jobs overseas due to lower labor cost and same quality of product or service such as commuter programming and telephone services. According to McGrath (2015) “Outsourcing is a controversial practice, and many believe that U.S. companies who take part are hurting the job market in their own country. Nonetheless, from a business perspective, it seems like the wisest route, saving companies between 30 and 70 percent.”