How Technology Has Changed Business - 1049 Words

The rise in technology over the last two decades has affected businesses tremendously. E-business is changing not only how we buy and sell but is transforming the way we do business altogether. In the fast-paced and competitive nature of the business marketplace, e-business has allowed companies to increase the value of their organization by improving their operations, not just allowing customers to buy over the internet. In order to stay competitive, businesses must embrace the culture change into new technology. This is one of the greatest challenges that business face today. It is important to recognize how technology has influenced businesses, how new technologies can be adopted, and what it means for consumers and organizations. E-business is the â€Å"use of Internet technologies to link customers, suppliers, business partners, and employees† (Information Week, Dec 13, 1999). This can be in the form of e-commerce websites that offer sale transactions, customer-service websites, intranets and enterprise portals, extranets and supply chains, and lastly, IP electronic data interchange. The use of these different networks and technologies all businesses to improve, enable, enhance, invent, or transform a business process. Basically, technology helps build and manage relationships within a business to potentially transform a firm into a networked entity with seamless supply chains and superior value creation processes. The adoption of innovative technology can be viewed fromShow MoreRelatedHow Technology Has Changed The Business Environment5148 Words   |  21 PagesThe Impact of Technology: Technology as a whole has changed the business environment, and how it functions drastically over the past 25 years. The Internet was on CNN’s top 25 innovations in the past 20 years ad being named the most influential innovations in the last quarter century. 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