Technology and innovation have a large impact in today’s business world. People have also started accepting technology in a wide range. Technology results in change, and businesses that do not accept these changes tend to fail. However, the companies that fare the best in an ever-shifting marketplace are those that have the foresight to stay ahead of the curve.
Companies that are not capitalizing on the upsurge in mobile technology devices, applications
and platforms are leaving themselves at a disadvantage. Consumers want the convenience
offered by mobile devices; businesses have an opportunity to attract and retain customers by
building a presence, promotions, advertising and rewards on mobile technology platforms.
A business without a social media presence is a business excluded from one of the fastest growing media markets of our time. Word of mouth is still a valuable form of attracting new customers. However, businesses that fail to jump on the social media bandwagon are missing out on a golden opportunity Social media allows them to do this in a relatively simple and effective manner. If your business gives great customer service and has quality products and services, you don’t have to wait for your customer to physically interact with others to spread the word. One click of a button from a PC or mobile device can promote your business to all within that customer’s social network – but for this to even be possible, your business has to have a social media presence.
Many small business owners have begun taking advantage of application products that reside “in the cloud.” Cloud computing refers to data stored on servers hosted by third party providers rather than on the computer user’s local machine. Purchasing IT infrastructure to scale with a business’s needs can be costly. Cloud computing allows businesses both small and large to access their applications on a third party provider’s servers where they can pay for storage and access on demand. Detractors of the model say that security is a concern and that businesses may be opening themselves up to privacy risks. But in a highly competitive business environment where companies have to weigh costs against the risks and potential benefits of an offering like cloud computing, the choice is obvious for many businesses.
WHAT INFLUENCE DOES TECHNOLOGY AND INNOVATION HAVE ON BUSINESS IN
THE UNITED STATES OF AMERICA?
My research mainly consists of the changes that take place in business field due to the changes in technology and innovation. It talks about the advantages and disadvantages technology has on business. In my research paper, I will include the changes that occur in the United States of America and also how this change would affect the consumers in the business field.