The impacts of technological forces on business are as follows:
The technological force has a positive impact on the industry – The internet facilitates and simplifies connectivity. However, despite all of the benefits that technology brings to the corporate world, still it has certain drawbacks.
Relationships in business – Internet technology, such as Skype and other chat rooms, has enabled companies to host meetings without requiring both participants to be physically present at the same location. As opposed to a face-to-face meeting, this style of meeting is less intimate. As a result, the intimate nature of business relationships continues to diminish. The absence of physical proximity has resulted in a reduction in the brainstorm. Because of the lack of physical proximity, brainstorming and other forms of conversation that require human interaction have been limited.
Mortar and brick – E-commerce technological advancement has a detrimental effect on brick-and-mortar stores. Small-scale companies find it impossible to deal with online and bigger businesses in the market that operate both in-person and online. This advancement in the industry technology world ultimately causes small companies to cease their operations.
Technological Forces Examples
Regardless of what the business sells or offers, using various technical methods would greatly help it. These are as follows:
Internet: Nearly every company today has a website that aids in establishing and maintaining a global footprint. Businesses can effectively engage with the target customers by using the social media network. Furthermore, using internet technologies can securely connect with customers, clients, and coworkers in other countries.
Automated Process: By automating different manufacturing lines, businesses can substitute unskilled human tasks with fully automated ones. This supports the business by lowering costs for distributors, vendors, retail outlets, and other stakeholders. This element, on the other hand, harms an economy’s job level.
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