The Importance of Technology In Business

The Computer Trend - A Brief History

The last two decades have marked an enormous increase in the number of home computers. With it, computer owners have invariably taken to entrepreneurship in many varied fields. Thanks to the growth of technology, computers and the Internet, new methods have been developed for processing everyday business activities easily. Without the advent of technology, routine tasks would otherwise have taken and enormous amount of time and specialization. Undoubtedly, the computer represents the top technology development in the last century as it relates to businesses today, both large and small. Advances in the field of technology have created a vast number of business opportunities.

Some Statistics

In 2003, the U.S. Small Business Administration produced a report/survey that established conclusively that more than 75% of small businesses owned computers and had heavily invested in new technology. Let us try to understand what the computers mean to businesses and how they contribute to increase their productivity.
USE OF COMPUTERS IN BUSINESSES

The fundamental reasons for the popularity of computers with small businesses are their efficiency, speed, low procurement cost and more than anything else, capability to handle multiple tasks with little chance for error.
Office Routines: Almost invariably, businesses loaded with the burden of increasing workloads and the pressures of being lean and mean, fall back upon technology for most of their administrative tasks. This work includes, among others, bookkeeping, inventory managing and email. The advent of the Internet has also substantially contributed in bringing down the costs of communication and marketing. In a nutshell, technology has reduced the overall cost of business operations.

New Business Opportunities: The explosion of Internet and e-commerce has opened up a plethora of opportunities for all types of businesses. New management methodologies, such as Six  Sigma  are easier to implement due to statistical software. Also, companies are able to train their own employees using in-house Six Sigma software programs, and as a result, save money on labor costs.

It is now possible to have many business functions operate on autopilot. This has opened up new opportunities for software development companies and business consultants. Another business trend that has opened up as a result of advancing technology is outsourcing. It is now possible for a company in America to have its data entry and customer service centers in overseas countries such as the UK. In this way, companies can service their customers 24/7.
 
Indispensable Components of Small Businesses

It is difficult to think of a situation where businesses can do without technology and computers today. It is extremely difficult to say whether businesses depend on computers or computers created business opportunities.

Software Specific To Small Businesses

Certain powerful, yet simple software has come to the rescue of small businesses in reducing their tasks and opening up new channels. Simple applications like spreadsheets and word processing helps them maintain accounts, finances and keep track of correspondence. These applications allow the users to customize reports and other functions to suit their particular business.

Drawbacks

Both men and women in business have adapted successfully to new technology. But the SBA report cites the general decline in skill levels of people, which may eventually result in an overall reduction of income levels. It seems that people get used to technology doing all the work and tend to neglect their skill development. It is up to individual companies to make sure that their employees are still able to do crucial tasks without the assistance of computers, if necessary.

Four new-age MBA programs

Whether it is to manage crowded airports or maintaining the standards of hotels, whether it is to control the devastation caused by natural disasters or to implement environmental policies, trained managers are the need of the hour in every field or profession.

Some new age management courses which are highly becoming relevant and popular among students are given below. These courses are very useful, and trained professionals in this field are highly sought after. 

1) MBA in Environmental Management

By acquiring this degree students are equipped with the knowledge of how to implement environmental policies along with achieving sustainable evolvement and development of industrial projects. Students learn to analyze the interactions that take place between corporates and environment. Students analyze the study of ecology as well as business operations.

Career prospects

Any business project first needs to comply with government and environmental norms and thus require framing a proper environmental management policy considering the varying aspects of environment. Hence, specialists in this field (preferably MBA in Environmental Management) are highly sought after to comply regulations and handle legal formalities.

After acquiring MBA Environmental Management degree, you will be eligible to opt for career in private/government (public) companies, NGOs, research centres or environmental organizations, even at international level. You can be appointed as director of business sustainability, occupational health technician and project manager to name few.

Your function will be to analyze risks and advantages of projects, consider factors environment and how to keep them at bay etc. 

2) Airport Management

Managing a well-equipped airport can be very difficult. A well-equipped airport has variety of equipments for passengers, crew and aircraft. These include runways, taxi ways, terminal buildings with lounge areas for passengers, ramp areas, hangars, restaurants, maintenance shops for aircraft, automobile parking lot, safety equipments, etc.

The manager will carry out administrative responsibilities. He will be in charge of maintaining employees, airport equipment, airport tenant relations, etc.

Airport management provides skills for employment within an airport management role. Students learn about airport planning, airport security, passenger forecasting, aerodrome works, fire safety, dangerous goods and many other related topics. Since there is rising trend of privatization of airports, more and more companies are coming in for management of airports and there would be good opportunity for students with airport management. 

3) MBA in Media Management

After getting degree in MBA in Media management, you have numerous options. You can seek job in radio, television or advertising agency. You can work with various industries at different professional designations. Some of these positions are digital production/management, online content manager and numerous others in technical department. MBA in media management is definitely a valuable asset for those who are willing to work at a management or supervisory level.

The program aims at producing skilled business managers capable of working with not only online technologies but also conventional media to promote products/services or talent in the highly competitive market of today. The effective course curriculum plays catalyst in the formation of an effective media professional. 

4) MBA in Disaster Management

Do you remember the tsunami? Disaster management is a strategy to avoid, reduce, manage and overcome any type of catastrophic event that threatens human lives. It is done by identifying potential disasters, man-made or natural, and by creating contingency plans and procedures to be initiated when and if disaster erupts.

Job prospects: There are employment opportunities in government and non-government organisations, as well as consultancy companies. You can also consider a career in research, training and teaching. Apart from that, students can build their career in emergency services, law enforcement, local authorities, relief agencies, non-governmental organizations and international agencies such as the UNO.