INFORMATION TECHNOLOGY IN BUSINESS

By: Pavan Shinde

India is said to have large number of budding entrepreneurs, but how many businesses last for more than 5 years? The truth is not many, various factors may be involved like lack of fund, inadequate advertisement or just pathetic business development strategies, but let’s take one important factor into consideration “technology”.

With the advances in technology over the last decade it is next to impossible to run an effective business without the help of technology. Most small businesses in this fast paced world have a website with their own SEO (search engine optimization) techniques, the question might pop in your head as to why will small businesses need a web page or internet visibility , well how many times haven’t you searched the net for simple products like a fedora hat or shop locator for better dress materials , everyone are now using Google for everything , so the business that understands this change are more likely to sustain longer than the business with traditional strategies , but when technology is to be used by the entrepreneur he does have lot of choices , but does he use the right tool or software for his business, that needs to be answered

I-Phone vs. BlackBerry vs. Android smart-phone. Mac vs. PC. "Cloud-based" computing vs. an external hard drive. A vast array of technology choices exists for small-business owners. There is so much out there that it can be overwhelming Entrepreneurs are often lacking time and money but need the latest technology to keep their businesses running as smoothly as possible. In addition, small-business owners "really don't have the luxury of a personal life and a business life," so they need devices that work in both worlds. It's vital to do homework before glomming onto any new technology. Entrepreneurs can check out reviews on websites, ask peers for technology feedback at networking events, and even head to bookstores to browse the magazine and book racks.

"Since every business is different, the best resource is someone in your business who is ahead of you in technology," One of the most interesting things for any business right now is that so much can be done on the Web for so little money or for free as to creating profiles and pages in social networking sites to improve the business visibility over internet or to create websites which provides blogging and commenting features , these websites with minimal pages can be done with very less capital , business can also have company owned websites on which they can put up their portfolio about previous achievements and their business clients , so as to people can see whom they are dealing with and by creating social media support in website they can invite their business partners and potential customers to take part in the activities or events of the company .

Entrepreneurs can also make use of the mobile technology like android, and create online support on mobile like free chat with the company and providing news feed to the users on mobile , by doing so the company improves its social network, when social network improves company draws to itself the potential customers. This explains the basis of the use of technology for endorsements, but technology is advanced enough to do the online transactions like selling products to company market share through net , additional risks like the password hacking or profile manipulation , change in data without notices are involved , companies implementing technologies for monetary benefits should take due notice and conduct market survey to understand market risks involved.

Technology in business is an asset but it comes with its own liabilities, business which adapt to changes are more likely to have a higher market share than traditional business , as advancement in their business strategies and goals are much higher and long term . Use of technology reduces redundancy time and when efficiently , will help build a stronger and longer sustainable business .