Emerging technology trends Sample Essay
The emerging technology trends have had an immense impact on the global economy especially on the E-Business. The technological changes have made the E-Business to be a necessary strategy since it brought about revolution in the relationships between the organization and their clients and among the organizations too.
Technological advancement has made the world a global village and businesses can easily contact clients and has reduced the cost of running a business though it has also catalyzed a number of challenges. The changes in technology have necessitated businesses to make necessary changes and invest in technology otherwise they may be forced to close their operations.
For the businesses with low capital base, investing in technology is hindered and these firms are mostly closing down since they cannot compete at the global level. The inability of businesses to invest in ecommerce has been challenged by the surging cybercrime.
Investing in ecommerce requires tight security measures that are put in place by skilled manpower which is expensive for small firms. The advancement of E-Business has affected various business operations, among them Enterprise Resource Planning (ERP), Supply Chain Management (SCM), Customer Relationship Management (CRM), and Electronic Procurement among others.