Technology Management Term Paper Example | Topics and Well Written Essays - 1250 words

Technology Management - Term physical composition ExampleIn this paper, the impacts of technology on cost of business, human resources and customer satisfaction provide be examined with the intention of establishing its import in the aforementioned sectors. Many organizations atomic number 18 to a large extent hooklike on computers to handle their administrative tasks such as inventories bookkeeping and other clerical tasks which were traditionally handled entirely by personnel. The advent of the internet as well as growth in the diversity and readiness of computing hard and soft ware has signifi placetly reduced the cost of doing business computer are increasingly becoming to a greater extent powerful and cheaper to run due to the exponential growth in innovation. In addition, business owners and other entrepreneurs are better able to understand the cash flow and manage their repositing and other path be better ultimately saving time and money. For instance, today with only a laptop, one can open a business or even run a family without requiring to rent office space or hiring employees, the computer can store all the development they regard and they can use it to communicate with customers, suppliers as well as enthraling out product promotion. The availability of online trade and sales means one can order and ship goods from point A to point B in the comfort of their home. Furthermore, technology reduces the need for human resource since a computer can carry out tasks that were traditionally done by employees thus further reducing the cost of starting and running a business. The use of bookkeeping software such as QuickBooks and automated sales functions such as sales force allows business owners and managers to focus of strategy by cutting down the running costs and labour expenses. Technology withal provides means through which to cut indirect costs, these include cost of substitution which can be scaled down since with the option of telecom muting , one can work from home. Ergo, they will not only save on fuel costs but also reduce the core of time they spend getting ready to go to office as well as vocation jam which at times cost both employees and their employers valuable time which could be utilize profitably. Technology has helped to reduce the cost of storage by eliminating the need for double or triple initiation systems as well as amounts of paperwork that needs to be filed arranged and stored, customer data, contracts and any relevant information can be stored on online or hardware databases and accessed in seconds. Information and advertisement cost can also be scaled down significantly through technology, for example instead of costly TV ads, many firms are opting for online advertising through social media such as Facebook which can reach more people transcending geopolitical borders and which is either low cost or palliate. According to Jeff Wourio, a manager at Microsoft co-operations, inculcating te chnology solutions in business is crucial owing to the fact that with technology one can overhear among other things an online presence and that way they can cut down the costs of advertising significantly and bump off the resources to improving product quality. Online marketing provides a fairly affordable and at times even free avenue through which a company can, not only reach millions of consumers globally but also create a following of (fans/follower/friends) which serve to enhance