Computer technology and business

Technology and computer development has without a doubt had a fundamental impact on business and investment over the last two or three decades. Microchips, computers and the internet had profoundly changed how businesses trade, train, invest and make their money. Before computers became small and powerful, many companies preferred to use typewriters, fax machines, and landline telephones. Larger companies employed filing clerks, secretaries and typists in order to do the filing, invoicing and the typing of letters and reports. Letters and invoices, as well as payments were sent by post, snail mail as people who prefer sending emails have been known to call it. It was not too long ago, that this was how countless companies were set up across the world.

Technology has increased the speed at, which business is conducted, and the speed money can be made or lost. Emails and video conferencing means that business can be conducted home or abroad in real time instead having to wait days for letters to arrive by air mail. One or two workers on a laptop can be as productive as a pool of typists used to be, and generate more revenues for their company. A modern PC in well trained hands can even allow an individual to make a good living running their own online business.

Whilst for companies, send their workers on to computer software training and development courses could be a good investment of resources as their workers will improve their efficiency and be more productive. It was the rise of the internet that transformed how businesses operate, it meant that having computer technology with managers and workers that know how to use it could transform the prospects of companies, which were capable of taking advantage of the new opportunities that came their way. Online stores mean that goods and services can be sold without companies having physical stores that the public had to go in and purchase things from. Technology presented opportunities for those willing to try new business ventures as well as challenges to existing high street brands.

Technology advances meant the companies that spent more money computer innovation generally had better prospects of succeeding than rivals that spent little or no money on computers and related innovations. Social media, online marketing and payment systems have transformed how businesses can make money. Home based businesses using technology mean that people can make a reasonable income and have a decent standard of living by selling goods, services or labor. Social media marketing and analytics data mean that people can maximize their sales when selling online. The sales and traffic data for their stores means that they can target the goods and services that sell the most.

Small businesses and individuals can even set up eCommerce stores that do all the hard work for them, they just need to list all the goods and services available to customers on their website or app, accept online payments and wait for the money to come in. Sales data will allow them to streamline the business and only sell the most popular items.

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