Sunday, July 26, 2009

Technology and Business

How has technology changed the way we conduct business?
Technology affects almost every aspect of our lives. Just look around you and you'll see how wired we are. Thanks to the Internet, virtually anything you desire can be delivered to your door in a matter of days. Personal information is more accessible over the Internet as well -- you can look up everything from a long-lost cousin to the registered sex offenders in your neighborhood. You can even trade stocks or file taxes online. Parents don't need to lose sleep waiting for their teenage daughter to come home -- they can just call her cell phone, or send an unobtrusive text, to check up.
But as much as our personal lives have changed, the business world has revolutionized almost beyond recognition in the past few decades. Technology -- and we mean the advances in communication and information technology -- has changed the face and the pace of business.
As communication and information travels faster and faster, the world seems smaller and smaller, and this has large implications for the way we conduct business. Storing important in files on a computer rather than in drawers, for instance, has made information easily accessible. Using e-mail allows businesses to communicate and send these files quickly to remote locations outside of an office.
Many argue technology has blurred the line between professional and private lives. Wireless Internet, cell phones and Black-Berries have made it easy to work from home -- or for that matter, from the beach. The fact that it's easy to work from the beach compels people to do so. On the flip side, people also feel compelled to use Internet access at work for personal reasons. In this way, technology allows workaholics to work and slackers to slack.

Effects of Technology on Business
Businesses have been at the forefront of technology for ages. Whatever can speed production will draw in more business. As computers emerged in the 20th century, they promised a new age of information technology. But in order to reap the benefits, businesses needed to adapt and change their infrastructure. For example, American Airlines started using a computerized flight booking system, and Bank of America took on an automated check-processing system.
Obviously, now, most business is conducted over personal computers or communication devices. Computers offer companies a way to organize dense databases, personal schedules and various other forms of essential information.
As information travels faster and faster and more reliably, barriers of distance disappear, and businesses are realizing how easy it is to outsource jobs overseas. Outsourcing refers to the practice of hiring employees who work outside the company or remotely -- and even halfway across the world. Companies can outsource duties such as computer programming and telephone customer service. They can even outsource fast-food restaurant service -- don't be surprised if you're putting in your hamburger order with a fast-food employee working in a different country entirely. Outsourcing is a controversial practice, and many believe that U.S. companies who take part are hurting the job market in their own country. Nonetheless, from a business perspective, it seems like the wisest route, saving companies between 30 and 70 percent. 
Another technology that's starting to revolutionize business is actually not very new -- it's just cheaper these days. Radio frequency identification (RFID) technology is infiltrating and changing business significantly in a few ways. Microchips that store information (such as a number equivalent of a barcode and even an up-to-date history of the chip's travels) can be attached to product, and this helps companies keep track of their inventory.
Some businesses have even begun to use RFID chip implants in humans to tighten security. An access control reader detects the chip's signal and permits the employee access to the door. But many people are concerned about privacy issues if this were to become widespread practice.
Handheld devices like Black-Berries have become wildly popular for businesses because they let users check and send email from anywhere, and browse the Internet.

Internet Business
The Internet enables airlines to provide online flight booking, banks to offer online account management and bill pay and allows any company to sell any product online. In general, the Internet has proven to be an inexpensive way to reach more customers. Nowadays, if you can't find a business online, or if it has an outdated, ugly Web site, it looks downright unprofessional.

Many businesses have succeeded in using the Internet as their primary, or sometimes only, medium. 
Small businesses, too, have become easier to start up using the Internet. If you're a stay-at-home mom who makes a killer batch of cookies, you can easily sell them over the Internet and ship them to your customers.
But, it's not always as simple as it sounds. Any business conducted online must consider security, privacy or even copyright issues. Copyright issues would include making sure your business doesn't use someone else's original work (such as a logo, for instance) or even making sure no one else is profiting from your business's creative work.
One of the biggest ways the Internet has changed business is through targeted advertising. Using Google, companies can specify the keywords that will drive certain customers to their advertisement. For instance, if you were to plug the word "baking" into Google, you might click on a page from epicurious.com. That epicurious page will have Google ads from sponsors who sell baking-related products. A company that sells rolling pins can pay to have its ads shows up for people who search for specific words, like "baking," "pies" or "dough." It makes good business sense -- people who search for "baking" on Google will be much more likely to click on a rolling pin ad than the average person.
This is how Information Technology is changing face of the business.

Source: www.howstuffworks.com



Technology and Business

How has technology changed the way we conduct business?
Technology affects almost every aspect of our lives. Just look around you and you'll see how wired we are. Thanks to the Internet, virtually anything you desire can be delivered to your door in a matter of days. Personal information is more accessible over the Internet as well -- you can look up everything from a long-lost cousin to the registered sex offenders in your neighborhood. You can even trade stocks or file taxes online. Parents don't need to lose sleep waiting for their teenage daughter to come home -- they can just call her cell phone, or send an unobtrusive text, to check up.
But as much as our personal lives have changed, the business world has revolutionized almost beyond recognition in the past few decades. Technology -- and we mean the advances in communication and information technology -- has changed the face and the pace of business.
As communication and information travels faster and faster, the world seems smaller and smaller, and this has large implications for the way we conduct business. Storing important in files on a computer rather than in drawers, for instance, has made information easily accessible. Using e-mail allows businesses to communicate and send these files quickly to remote locations outside of an office.
Many argue technology has blurred the line between professional and private lives. Wireless Internet, cell phones and Black-Berries have made it easy to work from home -- or for that matter, from the beach. The fact that it's easy to work from the beach compels people to do so. On the flip side, people also feel compelled to use Internet access at work for personal reasons. In this way, technology allows workaholics to work and slackers to slack.

Effects of Technology on Business
Businesses have been at the forefront of technology for ages. Whatever can speed production will draw in more business. As computers emerged in the 20th century, they promised a new age of information technology. But in order to reap the benefits, businesses needed to adapt and change their infrastructure. For example, American Airlines started using a computerized flight booking system, and Bank of America took on an automated check-processing system.
Obviously, now, most business is conducted over personal computers or communication devices. Computers offer companies a way to organize dense databases, personal schedules and various other forms of essential information.
As information travels faster and faster and more reliably, barriers of distance disappear, and businesses are realizing how easy it is to outsource jobs overseas. Outsourcing refers to the practice of hiring employees who work outside the company or remotely -- and even halfway across the world. Companies can outsource duties such as computer programming and telephone customer service. They can even outsource fast-food restaurant service -- don't be surprised if you're putting in your hamburger order with a fast-food employee working in a different country entirely. Outsourcing is a controversial practice, and many believe that U.S. companies who take part are hurting the job market in their own country. Nonetheless, from a business perspective, it seems like the wisest route, saving companies between 30 and 70 percent. 
Another technology that's starting to revolutionize business is actually not very new -- it's just cheaper these days. Radio frequency identification (RFID) technology is infiltrating and changing business significantly in a few ways. Microchips that store information (such as a number equivalent of a barcode and even an up-to-date history of the chip's travels) can be attached to product, and this helps companies keep track of their inventory.
Some businesses have even begun to use RFID chip implants in humans to tighten security. An access control reader detects the chip's signal and permits the employee access to the door. But many people are concerned about privacy issues if this were to become widespread practice.
Handheld devices like Black-Berries have become wildly popular for businesses because they let users check and send email from anywhere, and browse the Internet.

Internet Business
The Internet enables airlines to provide online flight booking, banks to offer online account management and bill pay and allows any company to sell any product online. In general, the Internet has proven to be an inexpensive way to reach more customers. Nowadays, if you can't find a business online, or if it has an outdated, ugly Web site, it looks downright unprofessional.

Many businesses have succeeded in using the Internet as their primary, or sometimes only, medium. 
Small businesses, too, have become easier to start up using the Internet. If you're a stay-at-home mom who makes a killer batch of cookies, you can easily sell them over the Internet and ship them to your customers.
But, it's not always as simple as it sounds. Any business conducted online must consider security, privacy or even copyright issues. Copyright issues would include making sure your business doesn't use someone else's original work (such as a logo, for instance) or even making sure no one else is profiting from your business's creative work.
One of the biggest ways the Internet has changed business is through targeted advertising. Using Google, companies can specify the keywords that will drive certain customers to their advertisement. For instance, if you were to plug the word "baking" into Google, you might click on a page from epicurious.com. That epicurious page will have Google ads from sponsors who sell baking-related products. A company that sells rolling pins can pay to have its ads shows up for people who search for specific words, like "baking," "pies" or "dough." It makes good business sense -- people who search for "baking" on Google will be much more likely to click on a rolling pin ad than the average person.
This is how Information Technology is changing face of the business.

Source: www.howstuffworks.com


Wednesday, February 11, 2009

HRIS- A system that transforms functioning of HR

The Human Resource Information System (HRIS) is a software or online solution for the data entry, data tracking, and data information needs of the Human Resources, payroll, management, and accounting functions within a business. Normally packaged as a data base, hundreds of companies sell some form of HRIS and every HRIS has different capabilities.

Typically, the better The Human Resource Information Systems (HRIS) provide overall:

  • Management of all employee information.
  • Reporting and analysis of employee information.
  • Company-related documents such as employee handbooks, emergency evacuation procedures, and safety guidelines.
  • Benefits administration including enrollment, status changes, and personal information updating.
  • Complete integration with payroll and other company financial software and accounting systems.
  • Applicant and resume management.

The HRIS that most effectively serves companies tracks:

  • attendance and PTO use,
  • pay raises and history,
  • pay grades and positions held,
  • performance development plans,
  • training received,
  • disciplinary action received,
  • personal employee information, and occasionally,
  • management and key employee succession plans,
  • high potential employee identification, and
  • applicant tracking, interviewing, and selection.

An effective HRIS provides information on just about anything the company needs to track and analyze about employees, former employees, and applicants. Your company will need to select a Human Resources Information System and customize it to meet your needs.

With an appropriate HRIS, Human Resources staff enables employees to do their own benefits updates and address changes, thus freeing HR staff for more strategic functions. Additionally, data necessary for employee management, knowledge development, career growth and development, and equal treatment is facilitated. Finally, managers can access the information they need to legally, ethically, and effectively support the success of their reporting employees.


Source: www.humanresource.com

Wednesday, January 7, 2009

ThinC Thrice Result

The wait is finally over…

After three days of quizzing fiesta,

where more than 100 entries from around the nation reached us,

few people managed to outshine everybody else…

These big brains are:

ThinC-Who (Day 1) : Rohan Choudhary (IIM A)

ThinKross (Day 2) : U Ravi (MDI)

ThinKonnect (Day 3) : Mufeed ur Rehman (FMS)

They receive a cash prize of INR 3000 each.

And the mega prize goes…

Vaibhav Chaturvedi (PGPM08 - MDI)

He receives moolah worth INR 10,000!!!

Congratulations to all the participants and winners

Watch out for Imperium 09

Thanks and Regards,

Team ThinkThrice

Imperium 08