The Evolution of Technology and Its Impact on Business

In today's fast-paced world, the convergence of computer, telephone, and television technologies has revolutionized how businesses operate and market their products. This technological boom has ushered in a new era of convenience and efficiency, reshaping various aspects of our lives.

One significant transformation is evident in the realm of food consumption. The introduction of convenience, frozen, snack, and fast foods has drastically reduced meal preparation times, catering to the increasingly hectic lifestyles of consumers. Moreover, the advent of online grocery shopping allows individuals to browse and purchase food items from the comfort of their homes, with some advanced Asian cities offering delivery within a few hours.

Similarly, advancements in telecommunications have facilitated seamless communication and collaboration among businesses worldwide. Through videoconferencing, marketing executives from different corners of the globe can convene in "real time," eliminating the need for extensive travel. Furthermore, the rise of direct marketing has enabled companies to gather detailed insights into consumer preferences, leveraging data analytics to tailor their offerings effectively.

Telecommunications, particularly the internet, serves as the driving force behind the globalization of economies while simultaneously empowering individuals and businesses. The internet, a decentralized network of millions of interconnected computers, continues to expand rapidly, with membership growing at an exponential rate. Initially conceived as a data link for academic communities, the internet is now embraced by businesses, serving as a vital tool for communication, collaboration, and marketing.

Businesses are leveraging the internet to connect remote offices, communicate with customers and suppliers, and disseminate sales information promptly. The emergence of user-friendly internet applications has further expanded companies' reach, offering access to millions of potential customers at a fraction of the cost of traditional advertising mediums.

At the heart of the internet's functionality lies hypertext technology, which enables users to navigate seamlessly between different computer databases by clicking on highlighted text or images. This interconnected web of information facilitates efficient data retrieval and sharing, empowering businesses to make informed decisions and adapt to evolving market trends swiftly.

In conclusion, the integration of computer, telephone, and television technologies has catalyzed unprecedented changes in the business landscape. From streamlining operations to enhancing marketing strategies, technology continues to redefine how businesses produce, market, and deliver their products and services to consumers worldwide.
The Evolution of Technology and Its Impact on Business

Business organizations partnership

A partnership is an association of two or more person or entities, who are in business together ‘for profit’.

General partnership is voluntary agreement entered into by two or more parties to engage in business whereby each of the parties is to share in any profits and losses there from equality and each is to participate equally in the management of the enterprise.

A distinguishing feature of the general partnership as a form of business organization is that generally, partners have unlimited personal liability for the debts and obligations of the partnerships.

Partnership can be created by express agreement of intent to form a partnership, or a partnership may be deemed to exist because of the actions of the person involved.
Business organizations partnership

What is sales volume variance?

Sales volume is the number of units sold. To evaluate sales performance normally the company focuses on profitable sales volume. High sales volume does not automatically mean high profits because the high cost associated with products need to be subtracted.

The sales volume variance is computed by taking the difference between the actual sales volume used in the flexible budget and the budgeted sales volume and multiplying that difference by the budgeted contribution margin per unit.

The variance indicates the impact on the firm’s profit of changes in the unit sales volume. This is the amount by which sales would have varied from the budget of nothing but sales volume had changed.

Five reasons can contribute to sales volume variance:
*Unexpected competition
*Ineffective sales promotion
*Ineffective advertising’
*Customers meeting adverse business conditions, thus, unable to take their usual order
*Lack of proper supervision and control of salesman.

In the case of the multiproduct companies, the ‘sales-volume variance’ should be computed separately for each type of products sold, so that the management may get a clear and complete picture and take a suitable decision in the matter.
What is sales volume variance?

Legal environment

There are multiplicities of legal environment: domestic, foreign and international.

Throughout the world, legal systems vary greatly both in terms of their complexity and methods of interpretation and of necessity, the multinational enterprise needs to be fully aware not only of the individual legal systems, but also the ways in which the firm’s methods of operation will be affected by laws of the country in which it has base.

A company is not just bound by the laws of its home country but also by those of its host country and by the growing body of international law.

Too often business people see the legal system as an enemy when it should be viewed as a valuable facilitator.

Laws can affect many aspects of a marketing strategy – for instant advertising - in the form of media restrictions and the acceptability of particular creative appeals.

Product acceptability in a country can be affected by minor regulation on such things as packaging and by more major changes in legislation.

At their worst, laws can prohibit the marketing of a product altogether. It is usually illegal to import live animals and fresh fruits unless accompanied by the required certificates.

Furthermore, many products have to be modified to confirm to local laws before these products are allowed across the border.
Legal environment

History of Business Intelligence

History of Business Intelligence
In the 1970s and 1980s analytical software packages started showing up in the market place. However, lack of computing power, poor user friendliness and cumbersome and manual integration with the transaction system providing the data kept business intelligence tools from widespread usage. The release of spreadsheet software like Lotus 1-2-3 and Excel in the 1980s opened up for end users creating their own data models for business analysis. Spreadsheets are still widely used in this area today, and probably will be for many years to come.

For a period in the 1980s and early 1990s so called executive information systems (EIS) grew in popularity with the promise that they would put key information on the desktops of executive. The idea was that colorful software screens with big buttons and sometimes touch screen, so that the user did not ever have to use a mouse. Should put data directly in the hands of top management to reduce the need for secretaries and assistants to write and print reports for them. However, one of the biggest problems with executive information system (EIS) systems was that it took a lot of manual work to convert and lead data from the data sources, as well as to maintain customized versions of the user screens. Major effect in maintaining the EIS made implementations short-lived. In the 1990s and the new millennium, with the widespread usage of SQL (standard query language) databases; datawarehouse technologies; extraction, transformation, and loading tools; as well as new and powerful end-user analytical software, the stage is set for fast growth in usage of business intelligence tools in the next decade.

Furthermore, most of the business intelligence software vendors have released web-based versions of their solutions. Companies can easily and at a low cost give users access to large amount of corporate data and sophisticated analytical tools. By providing access to the internet or an intranet connection, a person can investigate and analyze data from home, when traveling, or from any other location at which they may happen to be.
History of Business Intelligence

Directed Advertising Gets Results

Marketing Strategy
If you're the only product/service provider in a consumer's time of need, you may get a sale based on that even if you haven't established firm trust.

How can you set this up this kind of advertising? It depends on your business. But I'll give some examples of advertising based on benefits.

An appliance dealer can give/send magnetic advertising specialties for people to put on their appliances. To supplement this, the dealer can establish a program of getting information about the specifications people will want/need in a replacement appliance, such as measurements, capacity, gas/electric, color, etc. Then when an appliance breaks down, the customer can call for a price quote without having to supply the necessary information. (During a stressful time, people aren't apt to want to hassle with this information; they just want a solution NOW!)

I still have a business card for a lock-out service in my wallet.

I got it at a gas station. I never met the owner of the service but if my keys are locked in my car on a cold winter day, it doesn't matter that I haven't met him, I'll call him.

We know that people tend to hate advertising.

The whole truth is that people hate advertising that intrudes on them without giving them a benefit.

Entertainment is a benefit; it may not induce anybody to buy the advertised product but it may get them to pay attention to the ad. Since people are more cure oriented than prevention oriented, it's necessary to fully describe the undesirable effect.

This is something an appliance dealer can use but can be adapted for other businesses. "Did this ever happen to you or to somebody you know? The freezer breaks down and all of the food in it (possibly $200 worth) is going to spoil if it isn't put into a new freezer SOON! Now besides all of the other things you have to do, you have to buy a freezer NOW! Pre-shopping for a freezer will limit the hassle you go through at a stressful time like this. We can deliver the new freezer right away and take away the old one."

Then it's just a matter of introducing what I wrote above. Just think, "Why or when would a consumer want my marketing message?" Then base the marketing message on the answer.
Marketing Strategy