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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
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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.
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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.