Information technology in the world of markets and business
The term “technology” is broad, and everyone has a way of understanding its meaning. We use technology to accomplish various tasks in our daily life, in short; We can describe technology as products and processes used to simplify our daily lives.
Technology is an application of science used to solve problems, but it is important to know that technology and science are two different subjects working side by side to accomplish specific tasks or solve problems.
We apply technology in almost everything we do in our daily life; We use technology at work, we use technology to communicate, transport, learn, manufacture, secure data, expand businesses and much more.
Types of technology
We use technology to accomplish various tasks, so technology comes in different forms, such as:
A system that uses technical means to transfer information or data from one place to another or from one person to another, daily necessary communication for everyone; It is used to convey ideas, exchange information, and express feelings.
Humans use communication technology tools such as phones, computers, e-mails, faxes, or messaging tools to keep in touch with friends and family.
The study of advanced methods and equipment used in building the basic and advanced structures of buildings, where various technological products are used to erect the building structure, and the use of construction technology tools such as heavy tractors to prepare computer-aided ground design software to create digital designs for structures in 2D and 3D format.
These tools, along with many others, help builders complete a project on time, efficiently, within budget, and with minimal accidents.
People with disabilities use assistive technology to accomplish specific tasks that are difficult or impossible to do, as assistive technology is used in many ways.
In schools it is used to help students with autism learn better, and it is also used to help people with disabilities with mobility.
Technology that is used to extend and improve human life, as medical technology reduces patient pain, developed countries have benefited from the use of medical technology in their health care systems, and this explains why people in developed countries leave for longer than people in developing countries.
Medical technology is used to diagnose infections, treat diseases, search for diseases that affect humans, etc.
A set of hardware and software tools used to store, transfer and process information, IT tools help provide people with the right information at the right time.
Knowledge workers in an organization use information technology to complete various tasks.
Advantages of Technology in Business
Technology helps companies complete most tasks, and this process increases production and efficiency.
Technology helps small businesses gain a competitive advantage:
If the business technology is well applied, it can help to secure a small business position in a competitive market.
Computers can be used to perform various business tasks, for example, a computer can be used to record data, it can be used for video conferencing, and much more.
Technology speeds innovation:
The only way small businesses can succeed in today’s competitive world is by using technology to create new products or services.
Small businesses can use internet technology to collect information about target consumers so that they understand their needs and desires. This information can also be used when designing new products or services.
It improves information sharing:
Many companies use internal networks to facilitate the flow of information within the organization. This intranet can help in transferring information between different departments at work.
Technology simplifies business communication:
Every business is communication-based, so you need to communicate with suppliers, business partners, and employees, so technology will make this process simple.
Many companies use communication technologies such as cell phones and video conferencing applications like Skype, text messaging services, and email to exchange critical business information.
Technology defects in business
Technology comes at a price, not all small companies can use it, after purchasing the technology and integrating it into the work, you will have to pay another cost to maintain that technology, and monthly maintenance is recommended, and this may be expensive.
The technology is not secure, it is very easy to lose business data through internet technology, and hackers can easily access your database remotely and use your business data to meet their specific needs.
Social separation / in the workplace:
Excessive reliance on technology is killing relationships in the workplace, as employees and business managers communicate through email, phones, text messages, and video conferencing, killing direct communication.