Effects Of Technology In Area Of Business Essay

The way businesses are conducted today has been greatly affected by the new technology. Information technology has increasingly become a transforming technology fundamental to all types of businesses and fields such as: communications, manufacturing, medicine, research, administration, education, tourism and entertainment (Jones, 1996). The Internet has become vital for many businesses and people. People in many businesses are conducting business activities like communicating with other people, selling, buying and surfing the markets for new opportunities on internet. Cause/Effect Technology has affected the ways businesses are conducted both positively and negatively. Nonetheless, new technology has caused major increases in employment downstream and discloses the most significant characteristic whether it is used in the office environment, the factory or other industrial sectors of labor saving and capital saving (Gill, 1996). New technology in the area of business is taken as a way of increasing of efficiency of production, whilst decreasing cost and increasing competence. Technology has greatly affected the way information is accessed. Now easy access to information has become the central factor in the organization of businesses, society and national economies, and promoted the growth of a global economy (Gill, 1996). Although, this has not been accomplished without serious implications for privacy and security; with controls of centralized information on personal credit, health, educational, banking and insurance records (Jones, 1996). Due to the progress of recent advancements like the Internet and other technologies, there has been serious apprehension related to their effects on liberty, privacy, individuality and quality of communication (Jones, 1996).  However regardless of this fact, it is hard to pay no attention to or prevent technology form changing the way in which businesses are conducted. Conclusion On the whole, it can be said that the effect of technology on business cannot be understood in isolation. As discussed earlier, technology has positive as well as negative effects on businesses and society on the whole but at this point in time we cannot afford to stop using the new technology because it has become the backbone of many businesses (Gill, 1996). It has been observed that technology has been responsible for improvements such as: overall economic growth, opportunities for work expansion, significant restructuring of the workforce, increased productivity, enhanced living standards and the globalization of work. On the other hand, we have also seen the negative effects of technology like: the increased levels of unemployment in some employment categories, the invasion in privacy and liberty of society. In conclusion, the technology and its effects on businesses debate can never come to an end.