Benefits Of Technology In Business

Benefits Of engineering In BusinessThe term Technology is derived from the Greek word Technologia techne means craft and logia means the study of something. Technology is a truly broad concept and is used to refer to several braches of science and study. Some examples ar information applied science, medical technology, biotechnology, etc. As the term technology branches into miscellaneous fields of science and study, so do its benefits. Let us look at the benefits of technology in some major areas of day-to-day lifeBenefits of Technology in BusinessThe days when the Chief Information Officer (CIO) took implementation decisions and passed the responsibility down the line are pass. Today, the CIO is an individual who possesses ancestry as well as technical skills, understands the new IT issues facing a business, and drives the IT changes from the top down. This is a clear indicator of the benefits businesses are enjoying through the implementation of technology. Today technolog y is an integral part of any business right from the purchase of computers and software to the implementation of network and security tools. This helps businesses toRemain up-to-dateDrive business forward-movingSustain and survive competitionIn short, technology has become one of the signifi trickt factors that maximize an organizations ROI.Benefits of Technology in CommunicationFrom hand-held computers to touch phones, technological advancements in the field of communication are endless. The means and the modes of communication are unlimited. Some of the benefits of technological advancements in the field of communication areSpeed quantify is no longer a constraint in communicationClarity With megapixel images and video, and high fidelity audio systems clarity in communication has become a never-before experienceProximity technological advancements redeem made the world a smaller place to live inDissemination whether spreading information, broadcasting news, or sharing knowl edge, technology has made it faster, easier, and smarterBenefits of Technology in EducationTechnological advancements in the field of education are fast evolving. Today, e-learning is a familiar and democratic term. Some of the benefits of technology in this field arePersonalized learning experience Learners are able to take control and manage their own learning. They line up their own goals, manage the process and content of learning, and communicate with peers.Immediate response Most e-learning programs provide immediate feedbacks on learner assessments. Similarly there are features such as chat, discussion boards, e-libraries, etc that allow clarifications at a faster pace than in traditional classrooms.Self-paced Learners can chart courses at their own pace. This en trues high levels of motivation both in terms of completing the course as well as in performance.Greater entre Technological advancements accept unresolved education to learners with learning disabilities and in remote locations.Benefits of Technology in HealthcareThe marriage between medicine and technology has reshaped healthcare and revolutionized the medical profession. Some of the major benefits areSecure environment Technology allows physicians and patients to interact in a secure and comfortable environment to discuss sensitive issues.Flexibility Physicians can manage routine and less critical queries at a convenient time.Cost- and time-saving Physicians can follow-up, provide advice, and re-direct patients to resources on the Internet. This saves cost and time by reducing office visits. medical examination devices Medical aids allow patients to continue recovery at syndicate reducing their hospital stay.Vulnerable population Technology aids the very young, elderly, and patients with Byzantine birth defects, chronic illnesses, and disabled children by alleviating their problems so that they can continue living in their homes.Benefits of Technology in SocietyToday technology perva des closely all aspects of our daily life from shopping, banking, making travel arrangements to university admissions. Some of the benefits areConvenience Provides a great deal of convenience in expediting personal and business transactions be it shopping, banking, or simply reaching bills.Speed From sending gifts to making payments everything gets a done with a few chatters.Communication The world is a smaller place and technology allows everyone to keep in touch with their families and friends at a more than affordable cost.Accuracy Technology has reduced errors in tellurian and monotonous chores, saving time and cost.Development Technology has brought about development in many fields such as medicine, government, business, education, etc.Technology has evolved and modify our lives and society. Overall, it has brought about tremendous growth and benefit to mankind.What Are the Benefits of Technology in Business?Whats This?Technological advances in the past few decades have g reatly increase the competitive nature of the economic business world. Companies have used software, computers and the Internet to transform their businesses from local places of business to national and global market competitors. Many companies have responded to these changes by automating their business processes and capturing industry-related information and using it to their advantage. Technology has also forced businesses to remain flexible, obligeing their operations to newer and better technological advances.Better Reporting FunctionsCompanies that have triune locations, whether nationally or globally, have used technology to implement better communication services and software modules that communicate to a home base via the Internet. This allows companies to screen new economic markets without sacrificing the needs of communication or financial and operational reporting. Additionally, companies can improve their management information system (MIS) to capture information fo r detail locations when making business decisions.Financial reporting has also benefited greatly from technology rather than sending external auditors to multiple locations, it is possible to create a centralised accounting office to record and report financial transactions. This improves financial reporting and lessens the expense related to external audits.Increased Employee ProductivityComputers and business software packages have exponentially increased employees productivity by allowing them to provide data entry functions or review automated reports. Companies have automated several traditional manufacturing processes sort of of using manpower to manually create and assemble goods, machines and/or robots now complete these functions. While these improvements may increase capital expenditures, they lessen the impact of lucid labor expenses related to productions. Fewer employees are needed to monitor the machines and ensure they are working properly.Other areas, such as cust omer service, accounting and administrative support, have also seen an increase in employee productivity. Employees now review and report electronically collected data to ensure they are accurate and timely, rather than manually gathering information.Improved Business MobilityTechnology has also improved companies sales and service departments by allowing employees to use personal electronic devices to create sales displays and bare orders and customer information to the home office. These electronic devices shorten the lead time companies spend on receiving and delivering goods or services, creating an instant competitive advantage in the industry. Companies can also send sales representatives to multiple markets at the same time, allowing them to penetrate multiple markets with few overhead costs. Companies may allow their internal employees to work from home using a company Internet connection, reducing the fixed overhead expenses from a large corporate office.Read more What Are the Benefits of Technology in Business? eHow.com http//www.ehow.com/list_5990693_benefits-technology-business_.htmlixzz0rNlSC9sCEffects of Technology on BusinessBusinesses have been at the forefront of technology for ages. Whatever can speed production will unpack in more business. As computers emerged in the 20th century, they promised a new age of information technology. But in order to reap the benefits, businesses needed to adapt and change their infrastructure. For example, American Airlines started using a computerized flight booking system, and Bank of America took on an automated check-processing system.Obviously, now, most business is conducted over personal computers or communication devices. Computers offer companies a way to organize dense databases, personal schedules and various other forms of essential information.As information travels faster and faster and more reliably, barriers of distance disappear, and businesses are realizing how easy it is to source jobs o verseas. Outsourcing refers to the practice of hiring employees who work outside the company or remotely and even halfway across the world. Companies can outsource duties such as computer programming and telephone customer service. They can even outsource fast-food restuarant service dont be surprised if youre putting in your burger order with a fast-food employee working in a different country entirely. Outsourcing is a controversial practice, and many believe that U.S. companies who take part are ache 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 source Otterman.Another technology thats showtime to revolutionize business is actually not very new its just cheaper these days. Radio frequency identification (RFID) technology is infiltrating and changing business significantly in a few ways. Microchips that store information (such as a number equivalent of a barcode and ev en an up-to-date history of the chips travels) can be addicted to product, and this helps companies keep track of their inventory.Some businesses have even begun to use RFID chip implants in humans to tighten security. An access control reader detects the chips signal and permits the employee access to the door. But many people are concerned about privacy issues if this were to become widespread practice.Handheld devices like BlackBerries have become wildly prevalent for businesses because they let users check and send email from anywhere, and browse the Internet.Internet BusinessThe Internet enables airlines to provide online flight booking, banks to offer online account management and bill pay and allows any company to sell any product online. In general, the Internet has proven to be an inexpensive way to reach more customers. Nowadays, if you cant honour a business online, or if it has an outdated, ugly Web site, it looks downright unprofessional.Many businesses have succeede d in using the Internet as their primary, or sometimes only, medium. (Youre, of course, cognisant of this, given that youre reading a HowStuffWorks article. HowStuffWorks started as a hobby for college professor Marshall Brain, and it eventually grew into successful company.)Small businesses, too, have become easier to start up using the Internet. If youre a stay-at-home mom who makes a killer batch of cookies, you can easily sell them over the Internet and ship them to your customers.But, its not eternally as simple as it sounds. Any business conducted online must consider security, privacy or even copyright issues. Copyright issues would include making sure your business doesnt use someone elses original work (such as a logo, for instance) or even making sure no one else is profiting from your businesss creative work. whiz of the biggest ways the Internet has changed business is through targeted advertising. Using Google, companies can specify the keywords that will drive certai n customers to their ad. For instance, if you were to plug the word baking into Google, you might click on a page from epicurious.com. That epicurious page will have Google ads from sponsors who sell baking-related products. A company that sells rolling pins can pay to have its ads show up for people who search for specific words, like baking, pies or dough. It makes good business sense people who search for baking on Google will be more than more likely to click on a rolling pin ad than the average person.Despite what weve discussed in this article, we havent even scratched the surface of what new technology can do for business communications. The next page provides links to even more articles on information technology and products that have business implications.