Role of Technology in Today's Modern Business

‘Role of technology in the development of modern business’

Over the years, technology has become an important element and ingredient in the world of business, impacting enormously on business activities in every aspect. Modern business has simply become modern because of technological innovation. Technology is playing a big role in developing business for what it is today in several different ways. Technology enabled businesses to have way more effective communication than ever, making two-way communication possible. Except this, technology has also improved the way businesses conduct their research effort for different purposes. Technology also opened up a whole new dimension to the way firms approach and attempt to draw attention of their current and future potential customers. IT allows production processes to take part place more effectively and efficiently minimizing wastages. Computers offer world-wide-web, a whole new world that delivers endless possibilities and opportunities for businesses to offer, sell and for other data gathering purposes. Technology plays a big role in business development and arguably communication is where technology has ascent to great effectiveness.

Modern business requires modern communication technology. Any business that expects to thrive today must have at least the basic understanding of the various innovations, programs and devices as well as how to apply these technologies for communication. Communication is important for any business to co-ordinate and work out its day-to-day processes. Today technology plays a vital role in business communication in terms of collaboration, telephony, automation, social media and online media.

Any business today needs effective communication within the organization. Effective communication is only viable when there is two-way communication, you send a message to receiver and receiver sends respond back to you (sender). This can be possible by using telephone, mobile messages, fax,