Last Name 1 Student’s Name Professor’s Name Subject Date DOES HAVING TECHNOLOGY IN A BUSINESS ENHANCE OR HURT THEIR CHANCES FOR SUCCESS? The success of each business depends on several factors. However, studies have established that businesses that invest in technology have high chances of succeeding. This paper argues that technology in business enhances its chances of success. Companies that have been able to integrate technology into their operations have recorded increased market share, better performance and competitiveness (Carpenter and Agrawal 7). Information technology provides the business with tools to analyze specific data, solve complex problems, communicate to a global customer base and innovate. Zara is a good example of a company that has used technology to create a global brand. Zara is highly focused on its customers and uses technology to enhance the customer experience. According to Carpenter and Agrawal, exceptional customer satisfaction is necessary for the success of a business, which cannot be achieved with technology (7). For example, the internet enables businesses like Zara to communicate with millions of customers across the world. Indeed, Zara has implemented a sophisticated technology that enables it to quickly communicate with each of its store empowering decision-makers to act with speed and responding to new trends (Roll). Technology helps companies to create new products that are aligned to the market trends and customer preferences Companies can use big data, Microsoft CRM Dynamics and other analytical tools to get better insights about their customers. Zara has used such market research to offer clothing items that reflect the uniqueness of customers in different regions in Last Name 2 terms of climate, cultural difference and physical attributes (Roll). Technology allows a business to maximize its productivity, increase its efficiency and cut down on production costs and motivate employees (Carpenter and Agrawal 9). In conclusion, technology enhances a business’s chances for success by providing tools and that be used to increase its efficiency, increase its production and reduce operations costs. Technology increases the competitiveness of a business as seen in the case of Zara. Last Name 3 Works Cited Carpenter, Donald A., and Vijay K. Agrawal. "Infusing information technology into the core Business curriculum: A change management project." The Journal of Business Inquiry7.1 (2018): 3-20. Roll Martin. "The Secret of Zara's Success: A Culture of Customer Co-creation." 20 Mar. 2018, martinroll.com/resources/articles/strategy/the-secret-of-zaras-successa-culture-of-customer-co-creation/. Accessed 23 July 2018.