Technology is sometimes detrimental to business because it can lead to ongoing expenses, alienation between employees and distractions that reduce productivity. Criminals also exploit the advances of technology to commit cybercrime.Continue Reading
Businesses must allocate funds for upgrading and maintaining their infrastructures if they want to adapt to the latest technological breakthroughs. Technology is always improving, thereby necessitating costly upgrade cycles. Businesses must also spend for training to acclimate employees to the changes.
Through computers and mobile devices, technology causes employees to become detached from others. Text messaging, emailing and other electronic forms of communication have largely replaced personal interactions between employees. Interaction is important in developing interpersonal communication skills, which is crucial in establishing business relationships. Technology may also divert workers from their responsibilities. Distractions like incoming emails, text messages and calls interrupt workers from doing their tasks and reduce the overall productivity in the workplace.
The prevalence of technology in businesses also invites cybercrime-related risks. According to a McAfee-sponsored study published in June 2014, businesses worldwide annually lose nearly $400 billion due to hacking incidents, intellectual property thefts, credit card frauds and other computer crimes. Businesses have to spend resources not only for securing their systems as a precautionary measure, but also for recovery in the aftermath of a cybercrime.Learn more about Industries
Advantages of a virtual office include low overhead and increased productivity, while disadvantages include more distractions for staff and difficulty communicating. Virtual office workers can hire support services to answer phones, handle mail and provide a meeting space, which adds to the convenience of a virtual workplace.Full Answer >
Information that typically appears on a fast food industry analysis includes details about the quality of the food at different chains, the sales revenue and expenses different companies face, and a breakdown of the various marketing and advertising tactics each company uses. Some reports also focus on trends within the current year or projections for the upcoming year as well as identifying different market opportunities.Full Answer >
There were 116,067,300 employees in the service industry sector, as of 2012, according to the Bureau of Labor Statistics. This number reflects an increase of approximately 7.5 million employees since 2002. The Bureau projects continuing growth in the following decade to just over 130 million service employees by 2022.Full Answer >
Baker Hughes Direct is an online portal that provides online access for clients, vendors and employees of Baker Hughes, an oilfield services company that offers solutions for oil and gas operators. Baker Hughes Direct enables clients to access customer data, well information, material safety data sheets and technical data sheets.Full Answer >