Technology has transformed the business world of the twenty first century. Business practices are affected in every level whether marketing, merchandising or human capital; new innovative technological ideas have improved companies infrastructure and management processes. The purpose of this literature review is to explore the influx of technology into the business sector and to determine how businesses have adopted technology into the business process. This paper reviewed four areas where technology has revolutionized business. A review of scholarly articles focused on four key areas: business evolution, small business, technology shifts, and …show more content…
Data processors and programmers were able to almost name their salary and benefit packages. This caused a radical shift in the labor market for technology jobs and high-tech workers. The office also changed since information could be transmitted electronically. Business transactions could now be completed almost instantaneously via facsimile transmission. The early 80’s ushered in the invention of the personal computers (pc). Personal computers were then able to be manufactured and sold to consumers. Despite the high costs of the personal computers consumers purchased them for their business and home needs. Small business could now process payroll and budgets like their large business counterparts, instead of hiring another company to handle this process. With the creation of the Windows operating system users had the ability to use a graphic interface instead of a command line; this single event transformed the modern business into what it is today as it opened up new software possibilities.
Because all of the technological changes, organizations were transformed and they began to reinvent their business processes. A study by Mr. Graham-Hyde investigated how technology reinvented business; especially in the area of cloud computing. Cloud computing is a new era of computer technology; the ability to store and use files from an online storage facility. This new process changed how company executives managed their industry. Change is not always embraced as easily