Does Technology Enhance or Hinder Business Success? (Essay Sample)

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Technology in Business
The survival of businesses in every industry in the 21st century is rooted in the ability of the management team to adopt and adapt to the emerging technological developments (Nikoloski 303). The use of technology can hurt or sustain a business depending on the ability of the management team to adapt to new trends. When properly applied, IT enhances the success of a company by promoting innovation, reducing production costs, as well as promoting the operability and efficiency of an enterprise.
IT makes innovation possible for a form thus enabling the business to circumvent challenges within the industry to stay ahead of the competition. Zara, an organization in the fashion industry is a good example of how fast a company can grow with the right application of information technology (IT) (Aftab et al. 218). The firm’s leadership investment in big data has allowed the team to personalize customer experiences, save on inventory, and embrace a business model that meets the specific needs of consumers in different geographical locations. Technology helps a company to meet its financial goals by reducing the production costs as well as the remuneration expenses which is paramount to the success of a business (Nikoloski 305). In the case of Zara, the online stores allow the organization to reach a wide customer base at manageable costs thus stimulating the growth of the conglomerate. Additionally, IT adoption in business supports the efficiency and operability of a company by augmenting internal and external communications that are essential for customer satisfaction. Innovation, cost of production, and customer satisfaction are the determinants of business success and IT promotes each of these aspects (Nikoloski 303).
The use of technology in business can enhance the success of an enterprise if used in the right manner. Za