Competitiveness of technology in Business Landscape
Kew, J. & Stredwick (2005) define a business environment as “anything outside an organization which may affect organizations present or future activities” (p.1) the business environment is thus very crucial to any business as the forces in the environment affect and determine the performance of a particular business enterprise of industry. These forces are diverse and unique and include historical background, national culture, ideologies and values; scientific the level of education, legal, technological developments and political (Kew & Stredwick 2005). While many businesses wait for the forces in the business environment to change, other organizations setup mechanisms to sense and predict the environmental changes before they happen.
In all forces operating in business environment, technological advances is one of the most dynamic and it effects has been seen in many organizations. Today, many organizations are employing technological developments to provide them a competitive edge in their business. Jain et al (2009) explained that “science and technology play a crucial role in accelerating the rate of economic development” (p. 313). Ray (2004) observes that technology is a tool that can be used by organizations to aid in business development thus resulting to profitability and sustainable growth. Business organization employ technology to increase their efficiency, enhance communications, save money and time. These factors are a necessary mix that defines business growth and success.
Leading computer hardware and software firms are now selling their goods though websites where customers order and pay for goods that can be shipped to their door steps or downloaded as they take some coffee. Through the use of web commerce, many firms can now reach a large customer base as well as get feedback on the goods and services. This has opened opportunities to interact with customers openly and with ease. Corporation like Microsoft and Apple have online stores where customers can purchase computer software applications and download them. Advancement in web technology as well as improved online payment systems has made this possible. E-trading is gaining acceptance as companies save money and resources unlike the traditional retailing methods (thetimes100.co.uk).
Success in any business environment depends on the organizations ability to determine and understand the environmental changes and thereafter adapt and align its resources and policy so as to use environmental force like technology to achieve growth and profitability. With the crucial role played by technology, there is need for organizations to initiate effective mechanism that can aid them in sensing and developing business strategy meant to put business ahead via use of technological advancement. In return, organizations will save money, satisfy customers and have a cutting edge within their industry.