Technology Key to Business Growth & Development: Maximize Benefits with Latest Trends - Essay Sample

Introduction

Technology has, in the past, been one of the many factors leading to the success of any business. With the latest trends, the proper integration of technology, coupled with extensive staff and client training, has proven to be the main factor that determines the growth and development of the business over the short and long run. The practical and efficient use of technology has not only eased the processes of doing business, but also it has significantly reduced redundancies hence reducing the business expenditure. The increase in revenue, in the long run, is the main factor all the businesses long for leading to an increase in the business’s lifespan a critical aspect that many companies lack. The following article will expertly evaluate the considerations, minimum requirements, and the required resources in integrating technology into an already running business. This article will base its case study on a company that deals in the creating of different types of bricks and other mortar structures to be used in the building and construction industry, evaluate the operations of MortBrick Company intensively and ultimately recommend how best to implement the E-commerce service so as to benefit from this very costly transformation maximally in both the long and short runs.

As the available cases of the successful integration of technology in an already existing and running business, although scanty, is still available. Drawing from the successful examples of the successful enterprises, the integration processes adapted had one significant difference, the e-commerce facets integration, and the implementation. The two groups differed majorly in the different types of e-commerce service they incorporated into their businesses, a decision that was primarily determined by obtaining maximum revenue, with the least expense, while offering the best customer satisfaction (Eisingerich & Kretschmer, 2008). For instance, if a company would significantly increase their revenues by integrating an e-commerce service for their business to other businesses interactions as opposed to business to customer services, would prioritize revenue growth. For MortBrick Company, the two technologies that would highly increase the company’s efficiency and increase the net revenue are merging of products and services portfolios and implementing business-customer interaction e-commerce services with internet marking strategies incorporated.

The two primary technologies that MortBrick Company should consider to invest in is the business to customer e-commerce services, and the internet marketing services integrated into a single system. The importance of these two systems to the company will increase its revenue and ensure its resilience over time. The role played by the integrated system is primarily due to the power of the data collected by the internet marketing facet of the system. The internet marketing system mainly aims to win new clients as it retains the older ones. This entails the managing of information on the different types of brick and mortar products the different client require as well as services. This is critical, especially in including minimal adjustments to the products and services to ensure maximum customer satisfaction (Tkacz & Kapczynski, 2009).

The internet marketing graphical interface website should be linked to an online transaction service provider, a component of the business to client e-commerce program. The idea behind this is to emphasize the ease of transacting with the business, hence increasing client satisfaction. The internet marketing system will engage all different types of websites, but mainly social media sites. The system ensures if the marketing phase goes through, it will be very conversant for the potential client to enter the sales phase. The business to customer e-commerce service will include a portfolio or catalog and a price list of all the products and services. All the aftersales services and discounts offered, being part of the internet marketing system, should also be incorporated here for transparency purposes (Soegoto & Rahmansyah, 2018). The other two components of the business to customer e-commerce platform for MortBrick Company include the online money transfer service and customer service or rather the customer care department.

The main requirements for the effective implementation of this substantial integrated system require a lot of preparations, readjustments, and modifications. For the requirements, the system requires at least some basic knowledge of computer operations to every staff. The system will entail online logistics services connecting the business to the suppliers and the client business link for the company to interact with potential clients. The importance of this incorporation, it to ensure the transparency between the amount of materials to the services provided, product quality, and the payment is ensured to help in enhancing the business’s public image. Moreover, the firm will require well equipped personal computers, with updated software to provide active recording, updating, downloading, and uploading of data and information within and without the internet (Berglund & Nordqvist, 2019). This is critical in ensuring the fluid flow of data and information within the business network. Also, it allows for the clients, potential customers, and suppliers to retrieve relevant information that aids in the role they play in the business.

Project Description

`The project will include public social media accounts on different social media platforms. This will ensure more customer awareness of the company and the goods and services they provide. The platform will also enable customer service representatives to interact with potential customers. This ensures the business learns the different stratification of the market as well as its dynamics. This is very critical in the short and the long run of the business since it aid in cushioning the company of any fluctuation within the market. Moreover, internet marketing will ensure an increase in the size of the market share. These factors are critical considerations for the management of MortBrick Constructions Company in deciding for the technology integration.

The second component of the integrated system is the online money transaction system. This is one of the critical elements of the entire system. The success or failure of the integration mainly is judged by the ease, accuracy as well as the efficiency of the online money transfer system adapted. For efficiency purposes, the inclusion of several well-known and stable online money transacting companies increases customer confidence. Service like Visa, American Express credit and debit cards, MasterCard, PayPal are among some of the central third part systems that should be incorporated. The use of third-party system is strategic in that it provides the security of the money transacted. It reduces the expenses incurred by the business in the procurement and implementation of the e-commerce services technology, (Chaffey, et al, 2019).

The final component of the system is the customer service or the ‘Help’ segment from the customer side. This facet is vital in the pursuit of customer contention and satisfaction. This component of the e-commerce services program entails regular one on one interactions with the clients, potential clients, and suppliers to ensure maximum satisfaction on the products and services provided to the clients and suppliers and enough convincing for the potential clients on the quality of the goods and services (Thompson, Tuzovic & Braun, 2019). The customer service component ensures that the customer enjoys any after-sale service and products offered promotional goods and services, and discounts. The primary aim, as this department within the business MortBrick Constructions Company, it to ensure maximum customer satisfaction rate, as it offers the directions, policies, warranties, and guarantees to ensure the exponential growth of market base as the business adapts to the upcoming trends that may or will disrupt the market dynamics in the future.

Competitors and Technology

In the field of building and construction and especially the brick and mortar products and services provision is one of the fields that has taken time to adapt the effective use of technology for maximum revenue generation. The industry has had a sluggish pull towards embracing technology and especially online services, including e-commerce services. The main reason is the lack of technical know-how, underestimating the impact of an integrated e-commerce services platform, and the merger resource allocation for the department (Shi, 2018). This fact is another consideration that pushed MortBric Construction Company to embrace the integrated system. The gains in terms of the business include the increment of market share, a segment of the market many of its competitors have not yet considered. This is a market niche that MortBricks Construction Company can create for itself self hence ensuring its longevity.

As for any system security is paramount, access controls coupled and biometric logins are as effective as the general staff take them to be. So the basic computer skills mentioned earlier in this report came into play here. Staff with basic knowledge of computer skills will ensure all security apparatus are working effectively. Moreover the employing a team of technology experts, that is system analysts, programmers, IT support technicians as well as systems auditors is a very component of the success of the entire system. The department is tasked with ensuring it keeps the checks and balances of the e-commerce system. It ensures the consumers get what they paid for and the business received the equivalent compensation as agreed upon (Martinsons, 2008).

Recommendation

As the new trend dictates more and more emphasis on the different access to the market, it has not only retained business afloat through had time but also ensured that the business remains sustainable in terms of the products and services on offer. The integration of technology, and especially e-commerce, serviced it the way to go. The increased consumer satisfaction associated with the convenient provision of goods and services to clients is a feature that differentiates many companies in the building and construction sector. For MortBrick Construction Company, the effective integration of technology is crucial to ensure business survival in the long run. Moreover, technology plays a critical part in the development of different business technologies and, ultimately, in the sector.

Conclusion

As the article has clearly explained, the advantages of installing the integrated e-commerce systems are numerous. As per the studies cited within the article clearly show the key benefit of embracing the latest technological trends, is paramount for MortBrick Construction Company in increasing its market base. Moreover, the increase in revenue and reduction of expenses, especially in the long run, is good news to the company. The incorporation of technology and especially the integrated e-commerce service system give the company a huge advantage over the other competitors in the industry. As per the several studies emphasized in the article above, they extensively explain the importance of embracing technology in the running of the business MortBricks Construction Company, especially in predicting the market fluctuations. This is a fact that gives the company resilience and can weather al...