How is Technology Changing the Face of Business Today? The traditional retail mo

Question

How is Technology Changing the Face of Business Today?

The traditional retail model has focused on finding high-margin, high-volume products or services because limited space means reduced space inventory. For example, organizations such as Walmart select the biggest hits from the broadest genres, called the “short head.” The short head means Walmart will only carry a select mix of country, pop, and rock that is calculated to provide the greatest cost/benefit. The business model of Amazon is different. Amazon provides the short head but also provides the “long tail” of more than 100,000 different audio selections. The competition for customers between the Walmart and Amazon marketplace is profoundly changing the face of retail business today.

Using the assigned reading online library resources, find at least three scholarly articles that address similar current trends related to e-business and how e-business is changing the face of businesses today.

Using your company or a real-world example from your research, respond to the following:

Describe how technology is changing the face of businesses today.

Describe the most critical business processes that utilize information systems in your selected company.

Explain how IT makes the company’s business processes faster, cheaper, more accurate, and customer-savvy than that of competitors.

Cite at least three sources found in your online library research.

Give reasons and examples from your research to support your responses.

Write 3–4-page paper in Word format.

Explanation / Answer

1. Any business needs to be updated with respect to time; the latest trend of business is to adopt the technology. Today the technology has become the face of the business; all the processes of business are adopted with technology. Taking two examples which are ruling the business and people all around the globe are also accepting. The first example is an EMAIL, any business from its start to end deals with all the conversation very smoothly from one part to another part. It is the most blessed technology which is ruling in fulfilling the business need of the organizations across the world. The second is the website which is the face of starting any new business with clients. Today the major impact of website designing is to focus the availability of work that an organization is performing in the organization. From the website, the major leading companies are making business through online shopping in the e-commerce portal.     

2.

The most critical business that utilizes information system is the system admin part. As with the advancement of technology in business the frauds or stealing of data have become a threat to the organization so to make the process safe, various system software’s which may be the external application is utilized in the system to make the privacy of the customers along with the company financial security safe.

3.

To answer this question the best way is to give an example of the use IT in business:

Taking an example of online shopping websites, which is also a part of IT. For designing any website case-sensitive codes are utilized for designing purpose along with the security are also required to be enabled in the site which should secure it and maintains a long range of traffics including the safe payment gateway.

The advantage is people easily will get access to this portal with just a click and buy their desired list of products. This process is faster and it hits to prevent any competitors advantage as through this technology the customers are getting the freedom to access many products at a time by sitting at home which they will find difficult in open market. It is the case of both way benefit, company and along with the IT; it is making a huge success in the field of business and technology.  

4.

1. D Siegel, 1999, e-business

2. E Gummesson, 2004, e-business

3. M Jo Bitner, 2001, e-business

5.

The three resources are depicting the utilization of business with technology. From security to application development in all respect technology is moving like a shadow. In every step and every process like for simple documentation to report generation, a technology has become a prime factor.

Example: A simple daily report of an organization if done manually it will take 2hours time but with the ease of technology it will take hardly 1hour. It will save time as well increase the efficiency of work.

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