Can entrepreneurs rely on technology?
Is it beneficial?
Technology has the tremendous potential to affect business. The impact can be positive or in an adverse way. It mostly depends on the adaptation of technology, by the entrepreneurs and their team members. But, one cannot ignore, the following benefits of using technology, by small business owners.
Helps in interaction :
Business is more about networking and interactions with people. Entrepreneurs or their team need to interact with team members, suppliers, customers, etc. Technology provides the infrastructure to make decisions and to interact with people.
The use of CRM technology helps you out to find the right customers and to build a sustainable relationship, with them.
Increases Value Proposition :
New technology is often at the heart of an organization's value proposition. The technology or product created using the technology, must provide some knowledge to users or the marketplace.
e.g.Bar system used for billing, in big malls, provides necessary data (price, expiry date, discount details, etc.).
Manifestation of the Organization :
Technology is often the manifestation of the organization's role and activities carried out. It represents how the organization is increasing the overall performance, helping out the employees in one or the other ways.
e.g. Branded laptops for all employees
Provides data for decision making :
Technology provides the Boundaries of what one can achieve and cannot achieve, at a current time of business. It helps in strategic decision-making.
Organization Culture :
Technology provides a strong base for improving the organization's culture. Also, one can get some idea about it, based on which technolgy is using.
Entrepreneurs need to decide which technolgy need to be used for their enterprise and needs to work on the stages of adaptation.