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Professor’s Name
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26/05/2020
HOW TECHNOLOGY IN BUSINESS ENHANCES OR HURTS THEIR CHANCES FOR SUCCESS.
Technology has a great impact on business; however, it depends on how the entrepreneur will use it. A lot of companies employ superior technology to their companies to live on in a quick-moving marketplace. With the coming of the age of information, it will be challenging to ignore technology. Companies that rarely use technology risk the chance of survival due to competition from those using technology. Many companies today use social media for advertising their products. The fashion company, Zara, is an excellent example of how technology’s use has made it outshine its competitors.
Shopping at Zara was always frustrating until they adopted the use of technology. Despite being one of the biggest fashion brands in the world, shopping at the Spanish retailer was awkward. Zara adopted the use of technology to monitor; energy consumption, the store ambiance, and the weight of those residing in the neighborhoods of their stores. Technology helps the company to know which products will be easier to sell.
Also, Zara has incorporated the big data technology to aid in understanding the demand of each customer and how to satisfy it. For instance, through data collected, the Zara store in Gran Via knits wear for women aged between 20-40 years. In Paseo de la Castellana, they major in suits and shirts. When making orders, clients can purchase garments online even when they are out of stock, and they are delivered, or the customers pick it at the store.
References
Granovetter, M. “Economic Action and Social Structure: The Problem of Embeddedness.” American Journal of Sociology (1985): 91(3),481-510.
Technology and Zara Essay. nov 25 2016. <http://graduateway.com/technology-and-zara/>.