Effects of Technology in Business Success
In the current global economy, the use of technology in business has become essential in enhancing operational efficacy. Coccia states that effective use of technology improves processes in an organization, which in turn “creates a strong competitive advantage” (1051). While there is a likelihood of counter-productivity, the use of technology in business can assist in realizing organizational goals and in satisfying customers’ needs.
To begin with, implementing technology in a business coupled with effective management strategies can assist in attaining the set goals. However, this competitive edge can only be sustained if the management is always informed of emerging technologies such as Augmented Reality (AR) and mobile commerce. Zara, for example, is one of the leading fashion stores that has embraced technology with the aim of reaching out to its clients globally (Aftab et al. 212). As a result, the company has realized increased sales, customer loyalty and an outstanding public image. Referring to Zara’s case, it is conceivable that adopting technology in business can contribute to its success.
Correspondingly, implementing technology in business can assist an organization to realize the clients’ requirements. By analyzing online feedbacks, the marketing representatives can reach out to dissatisfied customers to better understand their needs (Coccia 1055). A majority of global business firms have incorporated technology as a strategy of increasing their market share. Zara fashion, for instance, uses an AR app to enhance customers’ experience. This move is critical in retaining clients, promoting loyalty and encouraging brand advocacy. However, considering the dynamic nature of technology, it is important for a business to carefully manage the use of a given technology to fully exploit its potential.
In conclusion, the effective use of technology in running a business can assist in achieving the set goals and in sustaining customers’ needs. When properly implemented, technology increases sales, customer loyalty and public image. Furthermore, it assists in retaining clients and reassuring brand advocacy. However, proper management of such technologies is a prerequisite to business success.