EFFECTS OF TECHNOLOGY ON BUSINESS

EFFECTS OF TECHNOLOGY ON BUSINESS
Name
Institution
Lecturer
Date
Business venture is as old as mankind. Over the decades, there have existed many methods and modes of doing business. It is common knowledge that every proprietor would like to see the business thrive, whether for profit or non profit gains. Business in the yester years was most labor intensive and used a lot of money in marketing. This trend has over a period of time undergone various changes, which have been enhanced by the current levels of technology. This paper will look on how use of the internet has influenced large sales volume of goods and services.
Business can be stressing when an organization lacks enough funds to produce as well as market the products. Some of the factors that contribute to high expenses in an organization include; lack of enough capital to carry out marketing campaign, expensive marketing strategies and travelling expenses to market the product. Most business that were done before the invention of internet and modern technology were forced to operate within a given region since such organization could not meet the high costs of expanding their business to other regions.
Use of the internet has brought a complete change in the way business is currently being done. Using the internet can be remarkably effective in targeting a bigger clientele as opposed to yester years` methods of carrying out business. For instance, a company with the right product can use social tools like facebook, tweeter, emails and other forums in the internet to not only market, but also to make sales. A good example is the use of eBay to buy or sell i...