How Technology Has Transformed The Business Landscape

It’s not an exaggeration to say that technology has transformed all types of businesses. We’re now able to handle a vast array of things quickly and easily without a second thought. Ubiquitous technology has changed almost every aspect of business, and it’s even hard to remember what businesses were like before the advent of the Internet.

Technology has changed the way we organize all of our business operations and how we gather and organize critical business information. It’s also changed the way customers buy our products, listen to our marketing messages, book appointments for our services or do price comparisons before making a purchase.

In fact, it’s hard to imagine a day at the office without a computer. Long gone are the days when we could function without good quality hardware, labor-saving software and a fast, reliable Internet connection.

Here are four of the most significant ways that technology has transformed business:

1. Business Continuity is Easier

After the departure of a company leader, a business has to find a new one. This process will go smoothly if the company already had a succession planning process in place. However, if no previous talent was nurtured, then the organization will go through some challenging times, putting the continuity of the business itself in peril.

The integration of succession planning modules with human resource software makes it much easier to ensure that the right actions are taken within the organization to implement programs for finding, nurturing and developing leadership potential among the company’s most promising employees.

Steps for succession have to be in place before the need arises, because a leader’s departure may not be anticipated early enough. Sometimes, a leader may retire earlier than you planned for, leave for a new position unexpectedly or even, in extreme cases, die. This abrupt change in circumstances leaves an immediate gap in the organization that has to be filled quickly.

2. More Open Communication

Businesses are about relationships, and relationships are built on communication. Today, through the use of the smartphone, we can communicate with partners, suppliers and customers with ease. Moreover, the smartphone isn’t just a phone; it also serves as a mini desktop, as it’s loaded with more apps than most of us have time to figure out and use. This is a far cry from office landlines, telephone booths and other ways businesses would communicate in the past.

The smartphone, however, is just one form of technology among many others. When we factor in VoIP phone services, video sharing and social media, then we can exponentially increase our channels of communication, holding numerous conversations with different people inside and outside the organization.

3. Improved Healthcare Systems

If you’re unhealthy, it’s difficult to be productive and proactive at work. The technological improvements in healthcare have had an indirect benefit on every business because it’s had an overall impact on employee health and well-being.

4. Telecommuting Is Possible

There are many good reasons why a company would want to incorporate telecommuting into their business model. According to June 2017 statistics by Global Analytic, there are at least 3.7 million employees, or 2.8% of the workforce, who now work from home. Larger companies are the most likely to offer their employees this option.

By distributing teams, it’s easier for a company to grow faster. For one thing, it cuts down on overheads related to rent, utilities and use of office equipment. For another, everyone is more productive because they have the option to work during their peak performance hours. Some people are morning people, while others are night owls. Additionally, some people are most productive in a quiet home office while others are at their most creative when sitting in a coffee shop with a laptop. With telecommuting, there are no constraints on when someone works, where they work or how they work — so long as high-quality work gets done by a specific timeline. In truth, since most work is done via computer or telephone anyway, it doesn’t matter whether an employee is sitting at a kitchen table, a cubicle or in an expensive corner office.

All in all, it’s hard to imagine how business used to be before technology became the change agent that it is in the business world. Moreover, technology shows no signs of slowing down, and it will, no doubt, create new trends in the workplace that we can’t foresee.