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Technology in today's business environment

Technology is an important component of the business environment. Describe how technology is changing the competitive business landscape. In your answer, include example(s) of how technology has impacted specific businesses or industries. What are the important components that technology has provided in today's high tech world?

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The response addresses the queries posted in 650 words with references.

//This paper will outline the impact of technology in present business environment. We will discuss that how technology is responsible for changing the competitive business environment. We will also discuss examples in the paper to know the impact of technology on specific businesses or industries. We will also discus about the important components that technology has given to the present high tech world.//

The application of technology in the business has changed the competitive business environment for the firms. The growing use of technology in the business has made it an important part of the business environment. This growing component of the business environment has lead to global competition. There is faster and better communication and flow of information, which helps the firms to compete in the global world. The growing technology is responsible for faster and rapid pace of change in today's world. This faster and rapid pace of change due to technology has made innovation as a key for success for the firms to survive in the competitive business environment. The growing use of technology in the business and firms is responsible for the building and implementing technology management ...

Solution Summary

This solution discusses the drastic changes technology has made, from faster communication to increase in global competition.

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