Technology Driven Business

There is no doubt that technology has come to stay. And more importantly, it has come to reshape and redefine the way we live. Technology has bridged the …

1975
1975

techbizThere is no doubt that technology has come to stay. And more importantly, it has come to reshape and redefine the way we live. Technology has bridged the time, making what was seemingly impossible yesterday, possible today. It has still gone ahead to show us that anything we ever imagined can be achieved with time. Even the business side of our life is not left out. Technology has ushered in a new era of (business) economy i.e. technology driven (business) economy.

 Technology is a direct expression and representation of human level of sophistication. The essence of technology is to simplify business activities (and life in general). ‘Simplicity’, a man once said, ‘is the highest form of sophistication’. And here’s the vehicle to make that happen.

 The business world is going through a ‘blazing period’, influenced by the present technological break-through.  We have different names for it; to some it’s jet age, computer  age, information age, digital age or even blue-tooth age. In the words of Peter F. Drucker, ‘The new technology embraces and feeds the entire array of human knowledge’.

 In today’s business environment, the market tastes and wants are met faster by the use of technology. Technology has become the major enabling force in the business landscape, transforming business models, work styles, value nets, and opening up new markets for touching human lives in most unique and amazingly strange ways. Business leaders have their mind-eyes focused on emerging trends engineered by this advancement. Technology is the leading force defining these new, and often yet to be tapped opportunities.

 In order to move your business from its present position to the centre-stage, you must be technology-compliant. If human beings in sectors like banking, hospitals, oil and gas can be replaced by micro-processors and technologically-induced machines – so could your business and mine, if we take this revolution for granted.

 Every sector of the economy is catching the fever – telecommunication, transportation, and media, amongst others – all technologically aided. Virtually every industry has ‘software’. What about you? As a piece of advice, don’t try to do ‘manually’ what you can leverage on using technology. You may not have the technological know-how but let your thinking and approach to your work show that you are compliant after all.

 Constantly reinvent yourself. Update your skills, whatever they are, remain relevant in your field. Each technological change introduces a paradigm-shift.  Joel Barker, the author of ‘Future Edge’ taught, ‘When a paradigm shifts, everyone goes back to zero. Your past success means nothing’.  The better an enterprise can foresee its total environment, the better it can prepare for the future through establishing strategies and supporting plans to take advantage of its capabilities in the light of the environment.

 Every business needs to innovate, both its ‘software’ and its ‘hardware’. By software, I mean your mental equipment, and hard-wares, your visible equipments. This economic dispensation calls for your continuous self development to become indispensable (with or without any technological inventions). Don’t just be in business, be an innovative business talent that people you render services to can’t do without. And more so, to adopt means of express what you are thinking. 

 The fact still remains: no matter what we see in the world of business today, technological-revolution is still at it baby stage compared to what’s yet to come. (The techno-mania may not have an end). Technology is the change that has already happened; the change that is happening; and the change that will continue to happen. If anything would replace technology that is more technology; it’s the future in the now. And it is very advisable that none of us should joke with it.

 On the other hand, technology should not be introduced for novelties; it must create a value. And must also be measured by what they contribute to the market and customer. In order words, technological innovation should be the creation of new value and new satisfaction for the end user- the customer.

 Make a projection and take a journey into the future, three to five years from now. What are new opportunities that could likely emerge (in your industry) from technological developments? How are you; positioning yourself now? The wages of this technological change would pay you if you are well-aligned or a tragedy if you are not. This largely lies in your attitude – an attitude that is always ready to leverage on the know-how. What are you waiting for to be on track? It’s up to you to make your business happen!

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