Technology Impact on Business,Concept of Technology Impact on Business

1. Technology’s Impact
on Business

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Why It’s ImportantWhy It’s Important
Knowing how technology has
influenced business sheds light
on new and future industries.

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Technology’s InfluenceTechnology’s Influence
on Businesson Business
Technology refers to the tools and machines people
have invented to make life easier.
Perhaps the most common technology staple used in
businesses today is the computer.

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Technology in the PastTechnology in the Past
Even the simplest invention, like the plow, had a huge impact on
business.
Before the plow was invented, people had to dig in the earth with their
hands.
Because of the plow, more corn could be planted which meant more
corn could be produced.
Increased corn production meant hiring more people to harvest the
corn, selling more corn in the market, and building a corn-selling
business.

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Technology in the PastTechnology in the Past
Since the invention of the plow, countless new
inventions have changed the way we live,
work, and do business.

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Modern TechnologyModern Technology
In the past 50 years, electronics revolutionized
business and society.
There is a never-ending demand to make electronic
goods smaller, faster, cheaper, and more powerful.
Computers can store thousands of files electronically,
saving time and office space.
The computer created a boom in nearly all business
industries.

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Figure
9.1 TWENTIETH CENTURY’S TOP TECHNOLOGISTS
Technological inventions greatly affect your daily life. These
percentages represent people’s opinions about who technologically
influenced the twentieth century and beyond.
Which three inventors do you think you’re influenced by every day?
Source:
Opinions
Research for
CNET and
Techies.com;
voters could
choose up to
three
John Logie Baird (mechanical TV) 23%

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E-WorkforceE-Workforce
E-workforce is when people work with
computers while doing business.
According to the Bureau of Labor Statistics
more than 70 million people use computers
daily.

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EmploymentEmployment
Technology makes people work easier and
faster.
Technology’s speed saves time and creates
new jobs.

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Digital WorkflowDigital Workflow
Placing hard copies of documents on a digital
platform, like CD-ROMs or a database, has had a
great influence on the efficient use of time.
By switching information to a digital format, there is
less paper involved.
A digital workflow links all the steps in a process,
like publishing, electronically.

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Technology CentersTechnology Centers
The high-tech industry can be found in
practically any city, but it is heavily populated
in various technology centers, like California’s
Silicon Valley.

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New JobsNew Jobs
The Internet has created a demand for new
jobs such as software writers, online writers,
and Web page designers.

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Virtual BusinessVirtual Business
The ease of doing business online has created a
boom in new businesses, or start-ups.
This type of business is called a virtual business.
Vocational schools, universities, colleges, and
community centers offer technical training or degrees
for people interested in expanding their technology
skills.
Technology skills will make you very attractive to an
employer.

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E-CommerceE-Commerce
Electronic commerce, or e-commerce, has
made it possible for businesses to directly
reach customers anywhere in the world.
The main activity of e-commerce is buying and
selling goods and services.

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E-TailE-Tail
E-tail is electronic retail.
An e-tail business sells products over the
Internet.
Any company can go online to sell any
product.

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E-TailE-Tail
A multi-channel retailer uses several means
to sell products.
Businesses often call their stores and
warehouses bricks-and-mortar, referring to
building materials.
Businesses that also use the Internet are
called clicks-and-mortar operations.

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Graphic OrganizerBricks-and-ClicksBricks-and-Clicks
Graphic OrganizerGraphic Organizer
BRICKS-AND-MORTAR CLICKS-AND-MORTAR
RETAIL
E-TAIL
C O N S U M E R SC O N S U M E R S

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E-TailE-Tail
Putting catalogs on the Internet rather than
shipping them by mail saves a lot of money in
printing and mailing costs.
E-tail is an advantage to the consumer in two
major ways:
• Convenience
• Choice

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E-TailE-Tail
E-tail is a disadvantage to the consumer in
four major ways:
• Buying power (overspending)
• Other charges (shipping)
• Immediacy (waiting for product)
• Relying on observation (not being able to see
products directly)

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E-TicketE-Ticket
Using their computers, people can now
purchase e-tickets, or electronic tickets.
Some people find purchasing an e-ticket is
easier and cheaper than visiting an actual
ticket agency.