Implementing Technological Solutions to Business challenges

Implementing Technological Solutions to Business challenges

Introduction

The current era is characterized by the drastic competitions and sophisticated business environment exerting extreme pressure on every business entrepreneur to enhance productivity with minimal operational expenses. The extensive integration of technological advancements has facilitated the business entrepreneurs to achieve their corporate objectives with great ease (Burgess, 2002, p3). The informational technology and contemporary trends of incorporating technical progression in business frameworks have propelled the developing pace of business regardless of its size and operational sphere (Weiss, 2011, p25). Running and managing an entrepreneurial entity and addressing the business challenges successfully requires wide range of sophisticated skills, corporate wisdom and appropriate utilization of technological manoeuvres to stay distinct in the competitive arena.

Business Challenges and Technological Situations

A wide range of ample business challenges can be dealt with maximizing the technological facilities available within the business organization (Weiss, 2011.p28). The careful identification of a problem and then wise selection of a technological measure to cut down the critical situation is the key to minimizing most of the business challenges. The significant integration of technological advancements in corporate streamline can curtail possible corporate adversities, ensure elevated productivity and entail acquisition of business objectives in the shortest possible span of time with minimal operational expenditures (Burgess, 2002, p6). The business challenges particularly related with managing business operations over huge distances have now become a matter of minutes.

Maximizing Productivity and Revenues

The foremost challenge posed to almost every business entity is to reach the maximum production leading to profound boost in revenues. The best technical aid in this regard can be to use modern production techniques by deploying scientific methods of machine oriented production that will reduce the cost incurred on hiring additional manpower for coping up with production challenges(“Business Challenges”, 2012, para 1).

Communication

The effective two way communication with customers, suppliers, stake holders and distributors lies at the core of successful operation of every business. The advanced modes of communicating like, electronic mails, Social networking media, websites and internet messengers have facilitated the smooth, immediate and feasible communication among the corporate alliances (Szewczak et al. 2003, p34). The online websites are the core sources of sharing entrepreneurial policies, products or service related information including price and availability and all updates about the corporate progressions. All employees will have lucid access to information and data they need to carry on their corporate responsibilities without wasting a single moment on finding concerned person to resolve a query (Gregory, 2012, para 2).

Following Rules and Regulations

If the market in which the business is being carried out has been ruled by certain federal

regulations and restrictions then a substantially designed IT framework will help in safeguarding all electronic data and monitoring the functionality of business endeavours through auto-generated scenarios of updating data with minimized flaws(Gregory, 2012, para 3).

Planning and Market Research

The planning for expanding corporate sphere and internationalizing a specific product or service needs far-reaching market research to gauge the potential consumers and competitors (Szewczak et al, 2003, ...