Technology has had a major impact on business activities, reinventing practices and changing how companies are built. From communication to building a team, nearly all aspects of developing a successful business have been affected. Today, businesses are created using entirely new tools and with a brand new global perspective. These changes offer exciting opportunities and are important for entrepreneurs to keep in mind.
As an entrepreneur and business executive, Daryll Knowles has witnessed these changes that have been brought about by advancements in technology. Located in New South Wales, Australia, Knowles has been a retail pharmacist for 40 years and in this time has owned eight pharmacies. He explains how technology has impacted the business community and the ways in which companies are built.
Communication
Successful businesses continue to be built around strong and effective communication. However, thanks to advancements in technology, the process has become more efficient. New means of communication, including online collaboration tools, email, and texting, allow employees to connect more easily, resulting in increased productivity. In addition to internal communication, technology has also improved a business’ ability to communicate with consumers. In fact, businesses that harness the power of new communication technology can more effectively share their message with potential customers and build stronger relationships with their current customers. Daryll Knowles notes that businesses that are built around these new tools can more quickly respond to consumer questions and issues and are able to receive extensive customer feedback. Using these new techniques, businesses can extend their reach and increase success.
Building a Team
Before the onset of technology, businesses were required to hold in-person interviews in order to build a skilled team. This meant that companies were confined to a pool of local candidates. Now, with new technology, businesses can recruit talented employees from around the world. Online job boards and other recruitment tools allow businesses to hire the very best talent. Most importantly, thanks to new communication options and the sharing of information online, employees can work from virtually anywhere at any time. Many new businesses have built their workforce with the help of these online recruitment platforms and have even opted for a team of freelancers rather than full-time employees. Daryll Knowles indicates that this type of global collaboration allows for increased productivity, creativity, and innovation. As well, this type of business model can help a company save on costs related to maintaining an office and the additional costs that come with employing a full-time staff, including health benefits and other perks.
Daryll Knowles offers a Global Perspective
When it comes to building a successful business in today’s marketplace, business owners have a much broader perspective. From working with international associates to penetrating international markets, technology has allowed companies of all sizes the opportunity to adopt a global outlook and to do business on a worldwide scale. Entrepreneurs who build their business with this in mind are presented with unlimited possibilities. Daryll Knowles suggests that while this has opened many doors for entrepreneurs, it has also changed the way businesses are built and structured. When adopting a global strategy, business owners should be mindful of the differences between their local market and the markets they intend to pursue. From cultural aspects to politics and legalities, success will be dependent on properly adapting their business model to these new markets.
