Technology can be detrimental or Rewarding to business Business Essay (Essay Sample)
Case study- ZARasource..
TECHNOLOGY CAN EITHER BE DETRIMENTAL OR REWARDING TO A BUSINESS
Many businesses worldwide are using technology to facilitate growth, creativity, strategy, and improve gamesmanship. In recent years, technology has become a compelling and fundamental tool for every business. However, the use of technology can either be detrimental or rewarding to a company.
Technology is useful in the advancement of customer experience. Buyers have many options in the modern market age, thus retaining customers is a significant obstacle to many businesses. Taking advantage of new technologies can help a business to maintain its clientele. Zara has recently launched the Augmented Reality application that enables customers to shop for clothing at the comfort of their homes (Wide Eyes Blog n.p.), which is a perfect strategy for drawing millennials to its various stores.
Stock management technology can save a great deal of money for your business. It can reduce the cost involved in stockpiling and wasted inventory. Zara manufactures its garments in smaller batches for any specific design (IE Insights n.p.). This system enables the company to make changes in its collections easily. The company produces more clothing in similar designs when a particular style makes a huge sale, but never identical to the original one.
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