Technology is vital for most businesses and makes everything so much simpler and easier for people, technology improves businesses and makes run more efficiently. Technology is replacing normal manual workers, so instead of people doing the work they have machines to replace them, as it saves the business money in wages and salaries. With technology, it helps both the business and the workers at times.
An example is with line production work where everything is put on a conveyor belt and as it goes down the production line machines are set with different tasks to help complete the products.Technology has made this easy by that it makes products in vast amounts and without the need of human labour. Technology doesn’t always necessarily wipe out all human labour, but it can aid them in doing tasks quicker, easier and generally a lot more effectively. An example would be with the use of computers and I. T as this has made the life of workers so much easier. With us use of computers Technology is always advancing and always looking to improve itself from the last version, so if business doesn’t keep up with the latest updated versions then that business may suffer in the long run.
An example that I have found of this is in an article in the financial times published on Friday 11th December 2009 named “Nokia rearms for the next round of app war” written by Tim Bradshaw and Maija Palmer. The article is about the fast growing smart phone market and the battle of the applications in which Nokia and Apple have. At this current moment Nokia are being left behind by Apple in the smart phone market and lacking the technological advances that Apple currently possesses.Nokia’s Ovi store has failed to reach the expectations and is trailing behind the Apple store in terms of the applications that they have to offer.
At the moment the statistics show that one million applications are downloaded from the Ovi store every month, which shows a growth of 100 percent month over month. Although these statistics are quite good but they are nothing in comparison to the 2 billion applications downloads from the Apple store since its launch over a year ago.Nokia have realised that they are not competing well enough and are not challenging Apple in the way in which they want to do, so Nokia are now going to revamp its mobile application store “Ovi store” in a way where it is a greater challenge to its rivals. Nokia have got many complaints about the quality of the applications that there store offers in which has made them decide to improve the store.
They have seen the criticisms that have been made about their store in which they will learn what the people want and expected for the new and improved version they are looking to bring out in the spring term 2010.Nokia has decided to switch its attentions away from the production making of new phones and focusing its thoughts on the improvement of its software and applications. Due to the lack of technological advances that Nokia currently have compared to its rivals, Apple, this could lead to a downfall in the business of Nokia.
This is because if Nokia continue with the lack of technological innovation used in their ideas, this could lead to many loyal customers deciding to leave in order to find better quality elsewhere.It will also lead to Nokia gaining a bad reputation due to the amount of people leaving. This will therefore lead to a dramatic fall in sales and revenue and will make the profits of the business fall rapidly. At this current time the iphone is leading the market in terms of applications and software with all other manufactures trying to reach the target in which Apple have set.
At the moment software and the applications that the phone has is vital and very much in fashion when choosing phones. As technology is always changing and improving it is up to firms such as Nokia to keep up to date.So whilst Nokia are trying to reach to the same technological advances that Apple have in order to compete and keep up with them, Apple may be think of a way to improve the quality of what they offer and move a step away from its rivals again. So this will be hard for other companies to keep up, as said before technology is always on the up so whilst companies are “copying” leading market holders such as iphones Apple application store, Apple could come up with other ideas in which will make them far more superior in the market.So although if Nokia improves its Ovi store and come up to the current standards of Apple, it may not fulfill their benefits fully if it means that iphone will only give as good as you get and may move a step ahead by improving the software and applications they already have, or better for them and worse news for its rivals such as Nokia, bring out something new.
If this does happen and Nokia bring up the standards of their Ovi store and so do Apple, Nokia will retain and maybe gain a few more customers which will benefit them in the short term by boosting up sales and revenue, but looking at it in the long term, Apple will only improve even more with the help of technological advances. A way for that Nokia can overturn the lead in the market is by investing some time in research and development in order to come up with an great idea that will differentiate themselves from the market leaders, which is Apple , in order to gain higher marker share.To conclude I have learnt many things whilst attending the contemporary business sessions, I learnt to work well within a group in which I only knew one of the group members, at first things were a bit awkward as we didn’t know what to say to each other. But as the weeks went on we clicked well and then all the ideas started flowing out.
As I group we discussed some topics that had effects on the business world and collected a variety of information in which we had to put into a portfolio.We had various meetings in which we debated about issues occurring within businesses today and how it relates to what we are doing now. Due to working in a group I have a great idea and understanding of the business world and how things affect it. I now see how something’s so small can have a huge affect on businesses. Looking back at the two topics that were discussed in details, technological and environmental I can see that they are both important and effect businesses in different ways.
Technology affects businesses internally by that if they are not kept up to date with the latest advances they could start to trail behind leading market holders such as the way Nokia has. With environmental although they effect the companies internally but also external by that if they do not abide by the environmental legislations it will not necessarily affect them but it will affect the environment in a way as air pollution and wasting of raw materials and energy.