Impact of Technology on Business

Together with the advancement of science and technology, technological innovations grew along with it, resulting to the emergence of new equipment and gadgets. No matter how big or small your company is, technology brings both intangible and tangible benefits to become cost efficient and to meet the growing demands and needs of customers. Technological innovations affect corporate efficiency, culture and relationship among employees, clients, suppliers and customers. The type and quality of technology used affect the security of confidential business information.

Due to the burden brought by administrative tasks, like inventory, bookkeeping and records keeping, both big and small companies rely on computers to do their administrative works. The birth of Internet and online social networking sites tremendously decreased the costs of business operations. It also makes it easier for companies to use the Six Sigma management methodologies. Some firms shifted to outsourcing instead of hiring their own personnel due to the low costs associated with it. Because of the huge impact of technological innovations to companies, it is impossible for them to live with it.

Commonly used high technology equipment:

  • Computers
  • Photocopier
  • Telephone
  • Computer printer
  • Internet
  • Paper shredder
  • Multimedia projector
  • Touch screen monitors
  • Computer mouse
  • Laptop computers

Advantages of Technology to Business:

  • Customer Relations. Technology affects the way companies communicate and establish relations with their clients. In a fast moving and business environment, it is vital for them to interact with clients regularly and quickly to gain their trust and to obtain customer loyalty. With the use of Internet and online social networks, firms interact with consumers and answer all their queries about the product. Establishing effective communication with customers not only creates rapport with them, but it also creates strong public image. It allows business enterprises to reduce and to cut carbon dioxide emissions.
  • Business Operations. With the use of technological innovations, business owners and entrepreneur understand their cash flow better, how to manage their storage costs well and enables you to save time and money.
  • Corporate Culture. Technology lets employees communicate and interact with other employees in other countries. It establishes clique and prevents social tensions from arising.
  • Security. Modern security equipment enables companies to protect their financial data, confidential business information and decisions.
  • Research Opportunities. It provides a venue to conduct studies to keep themselves ahead of competitors. It allows companies to virtually travel into unknown markets.
  • Corporate Reports. With technology, business enterprises communicate effectively with their branch offices to deliver quality financial and operational reports.
  • Industrial Productivity. Through the use of business software programs or software packages, it automated traditional manufacturing process, reduces labor costs and enhances manufacturing productivity. It enables companies to increase efficiency and production output.
  • Business mobility. Technological innovations improved companies’ sales, services, shorted lead time on receiving and delivering goods and services. Enables them to penetrate multiple markets at least costs.
  • Research capacity. It enables them to conduct studies on various companies to gain knowledge on the new trends in the market and way on avoiding them.

7 Ways to Experience Warmth This Holiday Sales Season

Feeling a little glum this holiday season? Many people do. Psychologists tell us that their client business really picks up around this time of year. Why is that? Are not the holidays designed to bring out the best in people? Do they really? Many people are lonely, even in a crowd, feeling isolated and apart from caring family and friends. Quite possibly, they feel that no one really cares or even cares enough to listen.

While these issues may vary as far and wide as the individuals in question, there is a common thread among all of us. That thread is purpose . In his huge best-seller, A Purpose Driven Life , Rick Warren outlines the case for purpose and answers the question "What on Earth am I here for?" Purpose make all of the difference and can supersede any circumstances as long as we do not allow ourselves to wallow in self-pity or selfishness.

Many salespeople experience a flood of negative emotions during the holidays. retailers notice both an increase in hostility and a decrease in patience and manners among customers. Field salespeople, often already excluded from their co-workers, often experience a discouraging slowdown in business and the customer's desire to put off purchasing decisions until after the first of the new year. Furthermore, these salespeople often are on the front lines of poor human behavior, sometimes falling victim to the wrath of an angry customer.

I submit to you that this Christmas season can be different and wonderful for you. You can make a real difference in your own life and affect countless others in the process. How? Simply do something positive for another human being without any expectation of payback or benefit to yourself. Start with the following:

1. Give of yourself.

2. Be a friend.

3. Lend an ear.

4. Provide a shoulder.

5. Pick someone else up.

6. Offer encouragement.

7. Smile

Did you note that none of these were financial or involved material things in any way? The truly important things in life seldom are. Remember, what comes around, goes around. We do reap what we sow.

So today, help out at your local soup kitchen, Salvation Army or faith-based facility. Invite a college student or military person with now to go over to your home for Christmas dinner. Look for opportunities to provide little services for others, often going unnoticed. In so doing, you will warm up and discover joy and purpose, leading to fulfillment and happiness this Holiday Season.

Try these seven activities and see for yourself. When January, 2008 arrives, you will be more than ready, emotionally charged, changed and expectant of a banner year.

Personal Brand Marketing – Brand Buzz 101

I understand the importance of visibility. As a small business owner, being "known" can be the difference between a steady flow of revenue or closing your doors. Yet, being visible is not enough. Being remembered is most important and means you occupy some prime real estate in the mind of someone. Garnering "share of mind" means that you somewhere along the way that they sampled your character and competency and you became memorable.

Marketing, by definition, is creating an exchange environment. For an individual, that could mean breaking a referral, speaking positively on your behalf, a promotion or an introduction. Branding, by definition, is an emotion or image tied to a product. YOU are the product. Even in businesses, people are the brand and define the company, more than any mission mission statement hanging in the lobby. So, how does an individual create "buzz" for their brand for visibility and more importantly to be remembered so that they can develop credibility?

1. Know what makes you unique.

Whether you're job hunting or wanting a position on board of director's, you need to confidently know what value you bring to the table.

2. Get really good at communicating what makes you valuable.

Ninety-three percent of communication is tone and body language. Spend time on the words so that what you say and how you communicate are congruent with your value. Yet, know that communication includes your image, the way you present yourself, your workspace, your phone skills and even your lunch meeting etiquette. They must all be congruent with what makes you valuable. Any discrepancies will jeopardize your credibility and could produce negative word of mouth which is a problem that I will address in future articles.

3. Manage that communication.

If you're creating "buzz" around your brand, it will require you to proactively manage the communication. For example, if you're new to a company or a position you will need to build a credibility wall. Yes, a physical wall if possible. It showcases every plaque, certificate, service honor, licensing, certification and degree you've received. This wall is your visual third party testimonial on the character and competency of your brand. Since that wall can not travel with you, make sure that anytime you're honored for volunteer service or recognized for a contribution that a copy of the "thank you" letter, note or card be placed into you personnel file.

Even if you're on your own, these "proof of credibility" tools will take you far. As the vice president of a business concern in college, I invited speakers to speak to our fraternity for professional development. I asked each of them to write a letter for me about their experience working with me so that I could include that in my personal portfolio. Many of these speakers went on to become regional directors, chief operation officers, chief financial officers, company presidents and further that my portfolio has become quite valuable. Actively "buzz" your brand! Doing that will develop credibility; credibility will lead to influence; and influence with lead to leadership.

Investing in the Commercial Tampa Real Estate Market

For years, financial expert have made it clear that one of the best investments that a person can make is real estate. Of course, in this day and age – as has been the case throughout history – the most important investment most people ever make during the course of a lifetime is that of his or her primary residence. Indeed, you may be like many, many people who have invested a significant amount of their life savings in your own home.

With that said, you may also be interested in making the purchase of additional Tampa real estate for investment purposes. Of course, a good number of people who take this course end up buying residential real estate that they either remodel and resell (oftentimes called flipping) or that they utilize as rental property. On the other hand, an increasing number of people are also investing in commercial real estate as a means of enhancing their financial portfolios.

If you are interested in investing in commercial real estate in your community, there are five tips or pointers that you need to keep in mind before you make the plunge and make the purchase of commercial real estate for your own investment portfolio.

1. Learn how to identify appropriately the most suitable commercial real estate prospects. In other words, you need to take the time to consider which types of commercial real estate options will make the most sense for your overall financial portfolio.

2. Learn the basics of commercial real estate investing. You need to understand and appreciate that there are some significant differences between purchasing and owing residential real estate as opposed to investing in commercial real estate.

3. Learn how to quickly assess and evaluate different potential commercial real estate transactions. The Tampa real estate market can be competitive for commercial property. Therefore, you need to be able to swiftly analyze a particular investment to determine if it is appropriate to your situation. A professional Tampa real estate agent can be helpful in aiding you in these calculations.

4. Come to a logical understanding of all factors relating to a particular commercial real estate opportunity and the financing you can access for the purchase. The bottom line is you need to understand what your financial obligations will be when it comes to purchasing a particular piece of property. You need to make certain that it is an investment that you not only can afford but that will financially benefit you well into the future.

5. Come to an understanding of the potential risks and benefits associated with becoming involved in any Tampa real estate transaction. In other words, you will want to undertake a cost and benefit analysis. Generally speaking, the typical commercial real estate investor simply cannot afford to invest in such property that does not allow for a regular and strong stream of revenue. Indeed, it will be the revenue generated from the property that will service the mortgage loan that needs to be obtained to make the purchase and investment in the first instance.