Essay, 4 pages (900 words)

Differentiate business legalities among countries

Technology in Business Technology in Business The world today has become a global village in the sense that individuals caninteract with each other from different locations in the world without necessarily having to meet in person. This move brings about massive transformation in the way businesses conduct their operations because of the expansive market sphere they now have to deal with. Domestic firms and companies have to fight for a control in their market dispositions from both local and international competitors, especially comprising of established multinationals that have massive capital outlays as well as reputable brand names. In addition, these companies enjoy economies of scale to the extent that they can supply the same goods and services to the markets where these small domestic firms operate at much lower prices. Furthermore, they provide convenience and effeciency of shopping for their customers by employing the latest strategies in supply and value chain mangement (Cainelli & Lacobucci, 2007). Under such competitive circumstances, the best way for these local firms to position themselves in order to stay ahead of the competition is by adapting the latest and most advanced technologies. Technology enables a business to operate effectively and effeciently in the market as well as provide convenience and customer value to their customers. Furthermore, the internet, which is the core aspect of technolgy, enables these businesses to reenginner their business strategically and to take advantage of all emerging opportunities in the market. As such, the firm gains a competitive advantage in the market field through the incorporation of internet as an essential part of its operations. This enhances its chances of overcoming aggressive competition from established multinationals as well as securing its chances of making profitable returns on its investments. These enhanced aspects of technolgy are what enable a company to operate profitably in a global playing field (Hakansson, Prenkert & Waluszewski, 2009). The internet enhances international competitiveness of a company because it enables the company to begin operating in a global playing field. Going international means that the company also expands its market share as well as increase its opportunities to make massive profits because of increased customers, i.e. more customers means more sales volumes thereby massive profits. The internet enables customers from all corners of the world to make purchases from the company at all times as long as they have internet connectivity, or can access internet from other internet enabled devices such as a smartphone, or an iPad. In addition, the internet enables these companies to integrate their business operations in order to save on the costs of operations. For instance, a machine can perform a task that would take five workers ten days to complete in less than a single working day. Furthermore, these machines which usually rely on internet for coordination, networking and operations, ensure consistency, reliability, and effeciency of operations of the company. This in return builds the reputaion of the company in the eyes of its customers and competitors thereby securing loyal customers through its brand image (Tsai, 2003). Much as technolgy brings about great benefits and profits as returns on investments as well as effeciency in operations, it has a myriad of problems that may lead to the downfall of a company if the managers concerned do not keep a keen watch. Managers and business executives shoud come up with measures of ensuring the safety of its intellectual property posted on the internet. Several cyber crimes exist and as such, criminals can hack into the systems of the company in search of confidential information, or even to steal funds form the company’s accounts. It is becoming more and more difficult to retain the control of intellectaul property owned by companies such as recipes, composition, designs as well as other properietary information (Cainelli & Lacobucci, 2007). Due to the rise in cyber crime business executives have to come up with ways of eliminating the possibility of hacking into their companies’ websites. There are several means of protecting the information that these companies post on the internet from theft or any unauthorized access by outsiders. One of the means is by demanding a login password for every one who enters a particular page of the company’s websites. For instance, if a customer wants to purchase products from Amazon.com, he or she has to sign up first with the company to become an online customer. The company will require him to provide a brief description about themselves before providing them with a valid login and password. This means that the customer is a recognized member of the company and can use the login and password to access the website of the company. In addition, this strategy enables the company to track all visitors to its website and control entry of thiefs, fraudsters and hackers (Hakansson, Prenkert & Waluszewski, 2009). However, important information of the company should be strictly guarded and only trusted company employees should have the login codes. Other ways of safeguarding internet content from cyber crimes is by setting up a strong firewall that detects any unauthorized persons from accessing their information, as well as demanding authentication of all visitors to their websites, or any other company information (Tsai, 2003). References Cainelli, G. & Lacobucci, D. (2007). Aggloeration, Technology and Business Groups. Cheltelham: Edward Elgar Publishing. Hakansson, H., Prenkert, F. & Waluszewski, A. (2009). Use of Science and Technology in Business: Exploring the Impact of Using Activity For Systems, Organizations, and People. Bingley, West Yorkshire: Emerald Group Publishing. Tsai, H. (2003). Information Technology and Business Process Reenginering: New Perspectives and Strategies. New York: Greenwood Publishing Group.

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