Budding technology resources are coming into our lives continually, making life better for both businesses and consumers. For example, innovative medical technology saves lives and improves a doctor’s ability to diagnose and treat diseases more effectively. From a venture capital perspective, technology has a wide and potentially profitable market. Technology can defend itself with patents that make it hard for competitors to copy others solutions and enter a particular market segment.
Organizations often develop systematic approaches to scanning a business landscape, and the world that surrounds them in search of novice technologies that are emerging, or which they expect to emerge in the next few years. Health care costs are escalating, and this has lead to a firm increase in health care insurance premiums that consumers are paying today. This has brought about the need for innovative technology in the market to deal with the problem. Companies may also be proficient in scouting for future opportunities described as having innovative cultures, which combine the capacity to spot trends with technical skills to devise innovative solutions that take advantage of the emerging trends.
Determining the market size
For a company to succeed in profits and revenue earning, then it must provide solutions that can meet the needs of a larger market segment, meet the needs of a large number of customers in order to have a reasonable return on investment used in developing the technology, which sometimes runs into millions of dollars. Estimating the size of the market is often times very challenging, and some technologies require the customer to invest heavily in software and equipment for them to implement the project.
The company that develops the technology may over overestimate the number of customers who can afford the implementation costs. Emerging or budding technology is a new solution to customers’ needs and problems, and at this point, there is no sales data on hand to use as the revenue projection basis. This means that a company at this point will be introducing the technology into its own market.
Evaluating the market needs
Customers must evaluate the benefits of the new technology against the cost of production. At this point, they may not identify the problem that the technology addresses as too important to justify purchasing it. To assess a market’s needs, a company will often meet with prospective customers at designated places like trade shows and conferences, where the people can learn more about what the business has to offer, and to discuss the pressing issues on their minds. A company’s management will seek to return from the meetings with confidence and a strong sense of their solution, which gains a firm market acceptance and solves high priority problems with their technology resources.
Effects of Commercialization of Technology on Learning
Commercialization of technology and the internet has helped with the expansion of opportunities initially offered in traditional classrooms. This commercialization has grown over the years, with the first working internet having emerged in 1977 and today it is widely used across the globe for various purposes. It grew rapidly in the 1990’s and has changed many sectors such as education and healthcare, and more schools having access to online libraries.
Access to the Internet
Internet commercialization has different effects on learning as it varies on the student’s capacity to access the internet typically means setting up regulations acceptable for Internet use. On the other hand, internet education is harmful. However, the benefits often outweigh the harm, which parents can control with filters. A learning institution must set up regulations that will help curb the negative effects of the internet on education, including preserving online safety. Many schools use acceptable policies both to the government and to parents, which the parents have to sign so that the schools can define clearly their Internet use regulations. The FBI recommends setting time parameters concerning children internet use, which essentially limit the time of day that children can use the internet and how long they can remain on the internet.
The Internet has different advantages and this involves the creation of new opportunities in research and direct learning experiences. It has allowed access to information, which in return makes it easier to do research. In addition, it also makes it easier to connect with people from other cultural backgrounds, and facilitates the education on different cultures for students from the people living in the regions directly. For example, student exchange programs that allow students from different cultures to communicate and learn more about each other via email and instant messaging.
The internet is beneficial academically to students; however, it can also be harmful when not handled with care jeopardizing a student’s safety. These dangers often come from inappropriate content like graphic images and pornography that remain on a child’s mind for a long time. This kind of content comes in the form of advertisements intended for mature viewing only, or some pop up adverts. This way they easily become vulnerable to online predators who want to prey on their innocence and who largely use the internet to get contact with children. For this reason, every institution and home must employ precautionary measures that will ensure children remain safe as they use the internet.
Commercialization of technology is not ignorable which means that Institutions and parents can use filters that help curb children’s exposure to inappropriate online content. This entails blocking particular websites and all their inbound and outbound links, while they can also create a white list with all the acceptable websites.
Types of Global Technology Resources for Communication
Big investments in the global technology resources and communication infrastructure have led to growth in global communications. International monetary support and policies have significantly contributed to the support and advancement of global communications. As the working population continues to increase globally, the health care resources are contracting and this is resulting in a parallel rise in global communication resources in all the sectors.
The large-scale employment sector
Today there is a global employment snapshot of developments and changes, which are currently affecting the sector’s environment, including the trends expected for the future. Companies cite the use of new technologies to improve education working conditions and training within the report. The technology used to improve universal communication within an international work force includes teleconferencing video and other human resource and management systems.
This involves live telephone and video connections that bring people separated by distance together for communication goals. This often involves audio, video, and text. Through this media, colleagues are in a position to conduct their meetings visually from different locations across the globe. The applications are modifiable to suit different languages and to respect particular cultural preferences, which eventually promote the understanding of the different cultural business practices within a workforce. Apart from being able to communicate from diverse global locations, the workforce can also share files and documents, which allows them to review projects together. On the overall, the technology helps greatly in synchronizing global communication.
Global human resources and management systems
Apart from video and teleconferencing, human resources management and information systems used widely in universal employment in assisting with global communication. The systems allow organizations to monitor how employees are performing and help in identifying areas that require extra attention early enough. They increase transparency and efficiency within an organization using stipulation tools like the automated staff records, and employee tracking systems. They have largely contributed to the transmission of information from a company’s international location while compiling collective data for human resources management and review.
The health sector
The other area that is growing very fast in global technology resources is the health care sector, with health IT being the fastest growing area in global health care industry. The products largely constitute telemedicine and health IT. Small grounding From 2007 to 2013, experts expect that telemedicine will grow to $1.8 billion from $600 million. Telemedicine is the real-time delivery of remote healthcare services using technology resources. The two primary types are the real time and store and forward categories. The store and forward involves the sending of a short medical summary from one location to the other, which requires reviewing prior to diagnosis. Real time offers instant communication through tele-video conferencing and uses computer peripherals for diagnosis. This technology is largely improving healthcare across the globe, and reducing costs that come with patient evacuation from a remote location.
Trade and Industry Benefits of Information Technology
Businesses benefit from information technology in a number of ways. With the communication and IT, industry having advanced so fast, this has incredibly changed the way people do business in the past few years. The advancements have brought PDA’s laptops tablets and other mobile devices to the work place changing the way people do business. They have also come with new applications and software, which assist companies in research and expansion. This has also led to stiff competition for jobs because people can work virtually from any location across the globe. As much as this is a disadvantage to a job seeker, depending on how one looks at it, it also presents advantages in the opportunity to begin a business more easily.
This quick sharing of information allows organizations to give and receive instant feedback on their services and products from customers, competition, and their employees. Accessibility and speed are imperative in keeping up with research and growth in a business workplace that has a global reach. The companies that rise to the top are the ones that pay particular attention to the information available for their businesses, which potential customers are in a position to access.
Networking for business
Many companies today are making good use of their websites as well as social media like LinkedIn Facebook and Twitter, including other forums and blogs. Apparently, any business that desires to grow cannot do without networking, and social media is the best platform. The sites allow companies to share news updates and information rapidly with customers and with one another. The customers on the other hand share the information with their friends and the chain continues in a viral stretch. This plays a critical role in businesses as they get word out about their services and products, and it helps customers comment directly on the products they desire to purchase.
Advancement in information technology has led to an extraordinary connectivity level with communication devices and applications, which allow businesses to connect globally and let people to lead a rather mobile standard of living while they work. This has also opened up new job opportunities for employees across the globe, since employees no longer need to spend entire days in an office within the city where they live. It also gives micro businesses access to a wider pool of potential customers making it easier for them to compete with their larger counterparts.
Advancements in marketing
After a business completes the required research on consumer needs reactions and wants, then it can continue benefiting from the information technology by easily targeting particular clientèle with their new products and services. For instance, where advertisers on the internet can us the same to evaluate their web pages and determine what the potential customers are interested in, and then provide advertisements appealing to the particular individuals. For example, if you are on a website that deals with beach vacations, you will most likely see advertisements related to swimwear, and coastal cities.