As cliche
as it sounds the blood, sweat and tears for business is the Internet
Technologies. Did you know that out of 825 senior business leaders being
interviewed, 98% of them using internet to operate their businesses. It is also
commonly known as the Internet of Things (IoT), which is kind of a thing in
this revolutionized world. Someone named Kevin Ashton came up with the term
while working on a PowerPoint Presentation at Procter & Gamble back in the
spring of 1999.
Undeniably
everyone is aware of the growth in innovation through the boom of internet,
it's like a version of orange is the new black thing especially in the
perspective of business. Regardless, the information technology fosters
innovation in business and allows seizing potential opportunities, and guess
what it's none other than the concept of E-commerce. It’s not only a word of
mouth but it does brings significant difference within businesses.
The famous
known retail business Walmart, embraced IT advancement and opened up e-commerce
in where customers allow to make grocery purchase online, instead of walk-in
Walmart physical store to buy. Today, Walmart’s digital sales generate more
than $14billion or about one-sixth those of Amazon’s (Phil, 2016). That is
pretty amazing for a retail store that has less coverage than Amazon and
started from scratch in 2000 (Walmart, 2017).
However
Internet of Things is not an idea that emerges recently, but businesses started
to realize the importance of internet technologies that act as behind the scene
of a whole business operation. The idea of internet technologies are not only
main for increasing innovation but also businesses nowadays obsess with the
word efficiency. There’s nothing like a full on efficiency and effectiveness
that make the businesses who they are today. Even so, internet technologies can
be seen as a multiple connected wire that integrates all the systems and form a
so called Enterprise Resource Planning.
Did you
know Enterprise Resource Planning system is one of the most underrated system
ever exist in business?! Businesses rarely talk about it or even mention the
system yet it is the backbone of major multinational businesses. Enterprise
Resource Planning implementation yields a range of benefits in return for
businesses (Panorama, 2016). Reducing external and internal failure cost,
specifically improved data reliability and communication between suppliers and
customers. For instance, employees can easily acquire the desired information
through intranet, there is no need to physically visit relative department to
get the needed document and information (How Convenient).
I think
from the information above it clearly shows why it is the blood, sweat and
tears of businesses. Well, if it’s a movie you might see tons of information,
connected wire and systems flowing around in an endless cycle. Even though we
might not know the downside behind all the innovations but in the business
perspective it allows them to seize whatever opportunities that will bring
changes to the world and I bet there are more things to look forward to in many
years to come. (Prepare to be amazed).
References
By: Linda Raj, BBM1541F2
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