Nazeer Hussain University

Business context II

Assignment No: 1

Submitted To: Sir Yasir Jamal Pasha

Submitted By: Rabia Siddiqui
Submission Date: 26th Jan 2015

Topic: Impact Of Technology On Business & On Our Society

Technology
In the present globalized world, we are living in the era of advanced technology. Every part of
our daily life is related to technology in one or other way. When compared with olden days, we
are having better facilities and even better luxuries with the help of increased technology. The
development of technology is not confined to any one sector and all the industries and different
sectors of society are developing new technologies according to their needs and requirements.
2015: the year which holds technologys future 2015 holds so much potential for the future
that we cant even understand the idea of what are coming, positives and negatives.

Starting From The Basics:

What do we mean by technology? Why is technology making this huge name for itself now
rather than in 2003? Well, it has always been advancing, even in 2003. However, it gains more
strength and speed in development because of the continued funding of who knows how many
trillions of dollars in total! Before we dive into its impact on business and some sociological
impacts, lets start with some recent technology advancements.

Your Fridge Needs A Facebook Account

Thats right. Your fridge needs a Facebook accountor at least the login for it. LG has come out
with a fridge with Wi-Fi capabilities so it can e-mail you when your shopping time comes around
with what all groceries you need to buy. With Wi-Fi access and an Operating System, anything is
possible. You can actually program your fridge to automatically order your groceries from an
online delivery service weekly! Crazy, right? This is just one of the amazing technologies.

You Wouldnt Download A car!

With pirating as large-scale as it is on the web, we face problems with stealing music, games,
movies, and other digital content. Recently, it was announced that the Xbox 360 is now capable
of ordering a pizza from Pizza Hut. I guess the saying you wouldnt download a pizza is gone
too, huh? Would you download a car? Better yet, COULD YOU download a car? Give it a few
more years, and the answer will almost certainly be yes! Printing has advanced to the point
where you can print in 3D. Theres a lot of buzz around these 3D printers and how amazing their
capabilities are and, more importantly, how amazing their accuracy is! Need a hammer? Print it.
Need a new phone case? Print it. Broke a plate? Print it! These printers are currently coming to
Staples for $800. Yeah, its an over-the-counter product; you dont need to be Apple to buy one!
To me, the most amazing news has got to be that they have printed a working car, in FULL. You
will be able to print each part and assemble it on site, as required. No longer will you rely on
EBay and Amazon to send you some old used part that may not work for your69 Dodge
Charger. I guess soon, we WILL download a car.
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Communications: Can You Hear Me Now?

The mobile industry has boomed with the constant development of new technologies in mobile
devices. Keep in mind that mobile devices are not just your cell phone: its also your iPad, iPod,
Chrome book, and pretty much anything that is an on-the-go device. The competition between
the companies in the mobile industry is incredible! Samsungs newly released Galaxy S5 has set
new standards for processing speeds, and Apple continuously develops new features on their
iPhones. And lets not forget the app developers. Without app developers, wed be lost with our
mobile devices. The competition forces new intuitive ideas between companies, as well as faster
hardware. Along with the development of the hardware and software, theres also the actual
networking of phones. You can use your phone to contact your friends anywhere from across the
world, the country, the state, the city, the neighborhood, the house, and yes, even the room. Not
only you reach them, but its fast and --- for the most part --- reliable.

Technology Of The Past:

Technology will never stop moving forward due to all the great thinkers out there, and is leaving
some technologies behind! Like a fridge that was used for keeping food cold. Who needs cold
food anyway when I can watch YouTube on it? Soon. Well just print it anyway, and then send
the download link for your greatest recipe through text to your friend 10 states over. In the old
days, we used phones for talking to each other. That was it. Not for texting. Not for browsing
the web. And not for playing Angry Birds (a nightmare, I know). In the past, technology was a
bonus, not a necessity. We did not rely on technology to get from point A to point B. we did not
rely on technology to tell us the phone number of the local bar. And we surely didnt rely on
technology for entertainment. Today, however, this is far from true. We absolutely need
technology. Without it, our society would crumble at its feet, where it stands right now, and in a
24 hour period. Could we adjust if we suddenly lost it all? Certainly eventually.

Impact Of Technology On 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
understanding with them, but it also creates strong public image.

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. It 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.

Sociological Impacts
Okay, now lets get deep and start with a simple question: How many of your friends do you text
daily? Okay, now keeping that in mind answers this: Do you have more conversations through
technology, than you do in person? It seems that more and more people are moving away from
face-to-face interactions, but instead moving towards a more technology-driven way of life.
Myself included, society almost needs to use technology to communicate. Without it, we would
be completely lost with minimal communication. Of course, this is society as a whole majority
rules.
Looking at the current generations (particularly 25 and under), and the upcoming generations we
can see so clearly that society is not going to stop moving away from this idea of using
technology as our primary communication methods. There are so many 12 year old children with
iPhones, iPad, and laptops. This isnt surprising news, I know. However, is an 11 year old
surprising? How about 10? 9? 8? 7? 6? How young do they go?
This is not to say that technology is ruining society because thats so far from true; however, it is
throwing away our society down. Were removing the necessity of skills such as face-to-face
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communications, doing basic math without the help of a calculator, and writing in proper
English. Texting alone has made a huge impact on the grammar, spelling, and punctuation skills
of people of all ages, including those over 25. Teachers see it, professors see it, and employers
are seeing it now too. These technologies at our disposal are here to make our lives easier, and
teach us things we didnt already know, or forgot, instead of using them to teach us, we use them
to correct us, move on, and remember!
As for our current generation, my word of advice is to not rely heavily on technology to live your
lives. Your life is yours to control. Teach yourself these skills because without them, we will
struggle to move on as a society. Dont forget the technologies because without them as well, we
will struggle to move forward. Technology has made learning, making friends, having fun, and
interacting so much easier than ever before. It would be a shame to use the capabilities of them
and run them into our worst enemy.
Finally, to the parents of these generations yes, you have a role here too. With no experience of
parenting, many will completely ignore this section, and I do not blame you. My goal is not to
tell you how to raise your children, but I would like to give you a few suggestions and opinions.
For example, I suggest you try to be a bit more strict with the exposure. Your iPhones cant be
the only form of entertainment you have in the car. If a punishment is required, dont make them
go to their room, make them take the battery out of their phone. If they are struggling with basic
math, do not give them a calculator, teach them the math the way you understand it! When all
else fails, Google it. If they have to write a paper, make them use a program without spell check,
such as WordPad, which Im currently using to write this report. When its finished edit it, then
place it into Microsoft Word, or re-enable the spell check feature.

Conclusion
Technology is like a coin which has both positive and negative sides. We are the deciders and we
have to choose how to use it. The usage of technology for over use of resources should be always
avoided. If we use it for positive things, it will have positive effect of our lives and vice versa.
Nobody would go up against the development of technologies in any sector but the developments
should be in a positive way and they should not have any negative impact on present or future
generations.