Category Archives: Technology

Technology is So Important Today

Have you asked yourself why technology is so important today? Just look around and you’ll know why. Literally, at every instant of time, you are surrounded by technology. Whether you are working or resting, you are always using technology. It is used everywhere and all the time. Its use has made life easy. We need technology. It’s important.

You ask why? Well then.
Places far away have come closer, thanks to technology. The pace of life has increased, thanks to technology. Communication is rapid, travel is fast, movement is easy, action is quick, interaction has sped up and so has life. Things that once took hours to complete, can be done in seconds today. The world is smaller and life is fast. Courtesy – technology.

Why is Technology Important?
Owing to the application of technology, our standard of living has increased. Our needs are met with greater ease. Technology has brought advancements in agriculture, due to which food produce has increased. Owing to the developments in engineering and architecture, building robust civil structures has been possible. Technology has boosted every industry. Businesses have grown, creating more employment opportunities. Advancements in technology have led to the evolution of newer and faster modes of transport and communication. The application of technology has boosted research in fields ranging from genetics to extraterrestrial space. The computer and Internet technologies are ubiquitous. They have changed every sector; be it medicine, tourism, education, entertainment or any other. Technology has touched every aspect of life, making it easier, better and different. Technology has changed living.

The discovery of electricity drove all the darkness away and the world lit up.
If not for the use of technology, we wouldn’t have been able to produce electric power or harness it. Today, it can be generated through various means because of technology. Heat energy (from combustion in fossil-fuel power plants, from steam in thermal power plants and from chemical reactions in nuclear power plants) is converted into mechanical energy that drives turbines connected to an electrical generator that produces electricity. Using overhead and underground cables, the electricity can then be distributed to the smallest of households in the farthest of world’s corners, thanks to technology. What made it possible to use the various energy sources to generate electricity? Application of technology. How could electricity be channeled to places far away? With the use of technology, again.

Not just basic needs, even luxuries came our way, thanks to technology!
How would our basic needs be met so easily if not for technology? Man could meet his needs even before the birth of technology. But it was so difficult then and so rudimentary. Look at today’s food – fresh, preserved or processed, food of any type is available at your doorstep just anytime. Clothing? Gosh, there’s so much variety and much more comfort with different clothes for different occasions and seasons. Where does technology come into picture? Everywhere. From food to fashion, technology has a role to play. How else would so much of all this be produced? Look at today’s shelters – shelters? Tall buildings, big bungalows, luxurious apartments – how would they be built if not for technology!

How does water reach homes? With the help of robust water storage and transmission systems. How do homes get the warmth and cold as and when they need? Due to heating and air conditioning systems. How can food be preserved without getting spoiled? Because of refrigeration. How can civil structures be built under water? How can skyscrapers stand so tall? It’s owing to advancements in civil engineering and architecture. Earthquake-resistant and fireproof structures we see today are also a gift of developments in technology. In short, we owe our luxurious lives to technology.

Owing to technology, businesses grew and so did employment opportunities.
Businesses, small and big, need technology to thrive. They are growing and expanding across countries owing to technological advancements. It is technology that gives organizations the strength to spread their wings. If not for technology, how would complex industrial processes be carried out? If not for machines, how would large-scale production of goods be possible? If not for computers, how would the software industry have grown? Growing businesses create employment opportunities for people and technology plays a big role in business growth. That’s how important technology is.

Though miles apart, we can stay connected, thanks to technology.
Technology has changed the way people communicate. Communication systems have evolved from pigeons carrying messages to emails and instant messages that travel long distances in seconds. Cellular technology and satellite communication have increased communication speeds and made ‘connecting’ easier. The Internet has enabled easy exchange of information over long distances. Even now, you could be accessing this page from a web server in some far-off country. Just a few clicks of your computer mouse can take you anywhere on the Internet. You enter an all new world without even realizing it!

Satellite and radio communication have changed the entertainment industry. Channels from all over the world are now available on your TV set, thanks to technology. Television shows and films can reach the masses within minutes after their release. Radio communication has made it possible to broadcast programs to the remotest of locations.

The facilities of online education and the availability of interactive media have made the process of learning so interesting.

The role of computers and Internet in education cannot be ignored. The use of computers in teaching has made learning more interesting. Computers enable better storage and presentation of information, thus making the process of teaching easier and more effective. Educational CDs are available everywhere. Lectures/lessons can be uploaded on websites, as PDFs or even as videos. This has made information more easily accessible and provided for better ways of knowledge sharing. Online degrees and training courses have led to spread of education. Today, people can continue learning even while managing their jobs, because online education gives them the flexibility to do so. And all the information in the world is so widely available, thanks to the world wide web.

Technology gave an impetus to scientific research and led to advancements in science.
Technology is as important in the healthcare industry as in any other. Right from easy communication between healthcare professionals and patients to computer-assisted medical procedures, it’s technology everywhere. In the working of patient-monitoring equipment and surgical instruments, there’s technology. In various diagnostic procedures from scans to complex therapies, technology has a vital role to play. Many medical procedures are mechanized. Even surgeries are simulated on and assisted by machines.

Technological development has never stopped. Nanotechnology has gone on to understand things at their nano level. Space exploration has gone on to explore extraterrestrial life. Genetic research has revealed how various traits or even hereditary diseases are transferred across generations. Processes like cloning and genetic engineering are attempting to alter traits in individuals. Artificial intelligence can make machines learn, thus developing intelligence in them. Fourth generation technologies in mobile communication have achieved amazing speeds in voice and video communication on cellular networks. Things we would never have imagined have come into reality due to application of technology.

At the heart of every piece of technology is automation. Technology automates the most complex of processes, be it in communication, education, medicine or any other industry. With the application of technology, critical and time-consuming processes can be executed with ease and in less time. Laborious and repetitive tasks are best done by machines (without getting bored!). People do not have to slog as much as they would have had to, if not for technology. With automation come efficiency and speed. They save human effort and time to a great extent and make life easy and comfortable. Nothing else has changed living the way technology has. And that’s exactly why technology is so important today and will always be.

Information to New Technology

Information technology pertains to the study, design, and development of computer systems (hardware and software) and networks, which are used for obtaining, processing, and distributing data. This field has been growing at a very fast pace over the last few years, and according to experts, this growth is expected to remain stable. Millions of jobs have been created by IT, and hence, today, it is essential for everyone to understand what information technology is, and how it plays a vital role in every aspect of modern-day life.

Why is Information Technology Important in Business?

Information technology today is essential in ensuring the smooth functioning of all the departments in a company, such as the human resource department, finance department, manufacturing department and in security related purposes.

Many different businesses require specialized software-packages for satisfying their operational as well as functional needs. The major companies sign deals with the software manufacturing companies to purchase their products along with their yearly updates. Some even get specific software designed according to their individual needs.

The manufacturing and production companies, such as those in the automobile sector, use IT and software products to get rid of any sort of errors or mistakes, in the proper functioning of the tools used for designing and manufacturing purposes. Further, thanks to the developments in the information technology sector, these companies are able to keep themselves aware of the changes in the global markets.

The software applications and the hardware devices are known to be the main elements required for the use of information technology. The web browsers, the operating systems, ERP’s and special purpose applications are the software which are used in information technology.

IT plays an important role in easily solving the mathematical problems especially in engineering and in the project management system. It has great use in the automated production of sensitive information, up-gradation of the important business processes, and streamlining of the various business processes. It also plays an important role in the areas of communication and automated administration of entire systems.

Importance of Information Technology in Management

Information Technology has a significant presence in the management of various organizations. It helps the managers in adapting to the new business processes, and also for predicting the possible impacts of newer technologies.

The managers can benefit from the efficiently prepared computer packages and the electronically stored confidential information. With just a single click of the mouse, they can have the relevant information in front of their screen.

However, to be able to handle these software packages in a better way, the managers have to undergo quality training in the use of information technology. Taking this need into consideration, many corporate organizations can be seen taking special efforts for the development of these skills, via training programs prepared by experienced software professionals.

Importance of Information Technology in Education

Information technology has made its presence in the educational sector too. It helps the students as well as the teachers in studying the course material easily, by enabling faster access to information from across the globe, on a number of different topics.

Studying the subjects with the help of on-line libraries and dictionaries, has made grasping and learning easier for the students. The inclusion of information technology in the syllabus of schools, colleges and universities, has helped them in understanding their subjects well, and for getting their basics and fundamentals cleared.

The on-line grading system, used by many educational centers, is a boon for the parents, as it helps them keep track of their children’s performances and progress. IT based communication systems such as emails, SMS, etc., can also be used to forward the details of the attendance record of the children to their parents or guardians.

Thus, the applications of the IT sector today, are visible in many different fields, ranging from industrial, managerial, to educational. With newer innovations and developments happening daily, the IT sector is expected to grow at an even faster pace in the coming years, thereby creating ample opportunities for deserving candidates, improving the different processes and procedures, and further enriching our lives.

Technology in All Walks of Life

Technology has progressed by leaps and bounds in the last few decades, and its benefits are there for all to see. One of the biggest arguments against technology is its sometimes ridiculously high cost which limits its usage and places it out of reach of many people. But it is an undeniable fact that technology has helped us make many tasks easier, and it has also made the world a much smaller and accessible place.

The latest developments in technology can be seen and felt in many industries, but there are some areas that have been benefited more than others. Costs of production have fallen, networking has become easier, employment levels have risen (in some cases), and we have certainly become more efficient at many complex tasks and processes. With this in mind, let’s look at some of the most obvious benefits of technology that we live with today.

Benefits of Technology on Health care

The biggest beneficiary of advancing technology has been the health care sector. Medical research has led to the end of many diseases and ailments, and also to the discovery of many drugs and medications that have helped prevent many lethal diseases and disorders. New medicines have led to the demise of many illnesses and diseases. Medical research has become supremely advanced, and every ailment seemingly has a cure, or at least a prevention.
Personal records are easier to study now, and medical research has advanced magnificently. Millions of lives have been saved as a result of this. Here are some of the benefits of technology in this industry. Communication between patients and doctors has become easier, more personal, flexible, and sensitive. Personal records of patients are maintained, which makes it easier to study symptoms and carry out diagnosis of previously unexplainable conditions. Several medical aids have helped people overcome many medical conditions which they had to live with earlier. Costs of medical procedures and operations have fallen dramatically over the past decades. Positive effects of technology on society due to a much-efficacious health care system are clearly visible.

Benefits of Technology on Education

It is no surprise that the benefits of technology in the classrooms, and schools in general, have opened up a whole new learning environment. Knowledge can be easily procured with the help of Internet technology now, and it is easier to help children with special needs as well. Distance learning has become easier, and this has led to a rise in the literacy rate of the nation. E-learning and online education has made it very simple and systematic to receive knowledge.
Here are some more benefits of assistive technology that the educational sector has witnessed. Personalized learning has come to the fore. Students can pick their own curriculum with ease, and set their personal targets by themselves.. Immediate response to queries and tests have made the whole education process a lot faster and more efficient. The use of computers and technology in classrooms has opened up a whole new method of teaching and effectual learning.

Benefits of Technology on Communication

The communication industry has witnessed a huge growth. Social networking and blogging has opened up a whole new world to people from remote locations, and the reach of the mass media has increased thousandfold. People can communicate with each other on the move, and there are no limitations anymore to the benefits of information technology.

Here are some more benefits of the growing technologies:
✦ The speed of talking to one another is instantaneous.
✦ The mode of talking has become more personalized and can be done from just about anywhere.
✦ The world has become a smaller place as no one is out of reach anymore.
✦ The clarity of communication has also improved with improvements in audio and video quality.
✦ Information and news broadcasting has become more personalized as well. Moreover, it can reach more people at a faster speed, and their response can also be felt immediately.

Benefits of Technology on Business

Companies have become more profitable with the help of various advanced machines and equipment, and this has led to a rise in the standard of living of people. The national income of countries has also expanded as a result of this. Costs of production have fallen dramatically thanks to the automated processes. Research and development has become far more advanced than ever, and this leads to the invention of groundbreaking technology.
Company accounts and customer records can be easily stored and accessed, and this increases the market penetration of the business. Global collaborations and partnerships are easier to start and maintain, and this benefits everyone involved with international business. It has become easier to combat competition, and this has led to more choice for the consumer.

Even though there are certain repercussions and a negative impact of technology as well, nobody can say that technology has not aided society on a whole. The world is a better place thanks to technology, and the future looks much brighter, thanks to these advancements.

Ways to Helpful is This New Age Technology

Teleconferencing is a new age integrated technology. The application makes use of closed-circuit television, video, telephone, the Internet, and radio technology to enable people from remote destinations to interact ‘live’ with one another. This in turn facilitates timely sharing of information, beyond geographical boundaries and time zones. It is also referred to as a tele-seminar, audio conferencing, or phone conferencing. The application is completely dependent on the functionality of the incorporated audio, data, and video services, and involves the use of quality systems at both, the transmission end as well as the receiving end.

Teleconference Equipment

Depending on the intended scale of communication, the equipment usually requires the integration of the following devices and protocols:

  • Television or computer monitors
  • Telephone connectivity
  • Internet connectivity
  • Voice over Internet Protocol (VoIP) connectivity
  • Over-head projectors
  • Desktop or laptop computers
  • Good quality audio-video formatting

These essentials are basically required at the main venue, as well as at the individually connected offices. The operation does require the expertise of a central team to interact with the related business entities and generate an itinerary. The board convenes in a single room and is connected via integrated technology to business wings or members. The technology allows banks and brokerages to interact with important clientele instantly, especially at times when planning and brainstorming can salvage a fiscal adversity. The generated conference bridge or server enables multiple-point access simultaneously. The software quality plays a very critical role in the success of a teleconference. There are variants of software now available to address the specific needs of attendee polling, in-call operations, and call recording. Once all the members are logged in, via personal identification numbers, the confidentiality and proprietorship of the information shared remains protected and exclusive.

Growth and Advantages

In the past few decades, big corporations and small business entities have spread their operations across continents. This makes it very important for various segments to stay connected, especially when taking critical business decisions. Moreover, it allows business branches to connect and grow uniformly. A number of employees have now begun working even from remote places, other than conventional offices, and need this technology to communicate with their peers or the management. It also helps executives to conduct meetings at various levels, access consumer feedback, receive a training without traveling, and even demonstrate the workability of proposals. It has enabled many important collaborations in sensitive situations.

The simultaneous multiple-point access makes teleconferencing a very cost-effective communication method. The application capitalizes on the versatility of video cameras and modems to expand participation. Information, thus received, is always firsthand and definitely more personal, without distance and scheduling concerns. The technology helps the management to profit from saved transportation costs and travel time, while eliminating the need for several interactions.

Advantages of Information Technology

Information Technology or IT mainly deals with computer applications. The common work environment today is totally dependent on computers. This has led to the need to develop and consistently upgrade dedicated computer software like project management software, for a number of related requirements. These include storage and protection of content, processing and transmitting of dedicated information and the secured retrieval of information, when and as required. IT promotes computing technology, covering everything from installing applications to developing databases.

Why is Information Technology Important

All our work related applications are now completely automated, thanks to the IT sector. IT professionals are people involved in essential management of sensitive data, exclusive computer networking and systems-engineering. The advancement of the IT sector has resulted in automated:

  • Administration of entire systems.
  • Production and manipulation of sensitive information.
  • Cultural development and communication.
  • Streamlining of business processes and timely upgrades.

Advantages of IT

• Globalization
True globalization has come about only via this automated system. The creation of one interdependent system helps us to share information and end linguistic barriers across the continents. The collapse of geographic boundaries has made the world a ‘global village’. The technology has not only made communication cheaper, but also possible much quicker and round the clock. The wonders of text messages, email and auto-response, backed by computer security applications, have opened up scope for direct communication.

• Cost-effective
Computerized, internet business processes have made many businesses turn to the Internet for increased productivity, greater profitability, clutter free working conditions and global clientèle. It is mainly due to the IT industry that business have been able to make their processes more streamlined, thereby becoming more cost-effective and consequently more profitable. People are able to operate their businesses 24×7, even from remote locations only due to the advent of information technology.

• Communication
Quick and effective communication is vital to any business anywhere in the world. Information technology gives an entrepreneur or business the tools, like email, video conferencing, SMS, etc., essential to communicate efficiently and effectively. to the business world, and information technology gives your company the resources it needs to communicate quickly and effectively. Not only do people connect faster with the help of information technology, but they are also able to identify like-minded individuals and extend help, while strengthening ties.

• Storing and Protecting Information
IT provides a low-cost business options to store and maintain information that may be important from a business or service point of view. Virtual vaults and other such security systems not only store vital data but also allow control over the access to such information. IT security systems will also protect virtual data from being hacked or wiped out in case of any technical failure.

• Creation of New Jobs
One of the biggest advantage of IT has been the creation of a whole new field of opportunity for skilled personnel leading to new and interesting jobs. Hardware and software developers, computer programmers, web designers, system analyst, the list of new jobs created could go on. IT has also been attributed to be the major cause of surge in the economies of certain Third World nations too.

Things that were once done manually or by hand have now become easier and faster due to the advent of a computing technology. Our world today has changed a great deal with the aid of IT which has penetrated almost every aspect of our daily lives and society, from leisure to business. IT has become a part of our day-to-day lives through the evident use of PC’s, Internet, cell phones, faxes, the list would seem endless. Let us hope that newer development in the field of IT can provide benefits to our future generations, just as it has greatly benefited ours.

Ways to Set Up a Dairy Farm Business Modern

Dairy farming business is growing by leaps and bounds in developing and developed countries. United States is the second largest producer in dairy production and has around 70,000 dairy farms. This business requires long man hours in which a typical day of a dairy farmer is from 4 a.m to 6:00 p.m where supervision and cleaning is important. Even understanding the current scenario where the dairy business is volatile because of high supply and low demand, has diverted the dairy farmers to move into other avenues.

Land Facilities
While starting an animal husbandry business, it’s essential to evaluate land requirement wherein the farmer has to calculate land required in constructing shed, equipment storage and availability for raising fodder. While deciding on location other factors like constructing facilities for cows, having a source of water and proximity to the market are necessary points to be considered while purchasing a land. It’s always better to purchase land rather than lease it as the leasing costs can contribute to increased costs.

With advent of technology in dairy farming, equipment used in this business are different than they were for past couple of years. Machines for milking, sterilizing and milk storage tanks are available. It’s up to the owner to compare the cost of purchasing or leasing it. Also, automatizing the operations with the help of computers is preferred as it simplifies the task of record keeping.

After deciding on land and equipment requirement, another aspect is number of cows which the farmer wants to purchase. Deciding on the costs and cow breeds to be purchased will be helpful in understanding the financial costs involved. Starting with healthy cows will certainly help to recover long term costs. Also, while deciding on the numbers consider other factors like medical costs related to cows, feeding costs, cleaning and insemination costs too.

It’s very important to know about your competitor’s working. Getting into a business with the knowledge of competitor’s strength and weakness will help you to eliminate future problems. If you are starting a small business setup, it’s important to know your local competitors. This information can help you in customizing your strategic plan of exploiting your competitor’s weakness and converting it into your strength.

Legal Rules
For any business that you start, you need to comply with the rules and regulations of the particular state. Similarly, while setting up your dairy business it’s important to find out about licensing rules, taxes levied on your business and laws about bottling the milk in your premises. Here, it’s better to consult an attorney who can guide you or browse the government website for further details. Also, try to get a ballpark figure for the costs involved in insuring your assets. Do understand the terms and conditions attached while insuring, as some costs might have to be borne by the owner.

Even though many want to start their independent venture but with excess costs and less return on their investment, franchising is a better option. Franchising helps the new dairy owner to gain experience and expert knowledge on the new technology used. Also, as the franchise is already an established name in the market, the dairy owner will be saved from the hassle of building a brand name. Also, the costs involved in starting a franchisee business is less as compared to starting a new business.

Financial Aspect
As costs of starting a firm is of prime importance, it’s necessary for the owner to understand the bifurcation of costs. Typically, an owner will face two types of costs: Fixed and Variable. Fixed are going to be constant and nothing can be done to reduce it but variable costs are going to vary according to the production. Examples of fixed costs like loan repayments, lease payments and insurance premium payments. Variable costs on the other hand include fodder, labor and utility bills. The key for earning profit is that the revenue should be more than costs. There are external factors like economic conditions which regulate the price of the milk. Like in recent times, the price of milk was low and this hurt the revenue of the milk producers. So, financial planning in terms of regulating the costs and increasing the revenue is always a better option.

After considering all these aspects, it’s important for the new owner to thoroughly research the business environment so as to start a successful dairy farm. As the dairy industry has already some big players which easily dominate the market supply, it’s more crucial for the new entrant to plan strategically for the future.

Importance of Business Communication in Modern World

With the advent of technology to previously unimaginable heights, the importance of workplace and business communication has become even more profound. Gone are the days when businessmen would reach their office and find stacks of letters and notices lying on their desk. This is the digital era, and the presence of BlackBerry’s and other mail exchange devices means that these same businessmen are never out of the loop, at any point of the day now.

Communication is a pretty generic term and it takes up different meanings in different scenarios. When we speak of business communication we literally mean the channels of exchange of thoughts and opinions and orders that exist within a business organization, and also the channels that pass from one organization to another. The two communicating parties can be partners or one of them can be a vendor of the other one. And in today’s highly globalized marketplace, these are relationships that are not uncommon by any means.

Latest Communication Technology

As already mentioned, the digital era has brought with it many new facets and means for the purpose of business communication. ‘Snail Mail’ is no longer an option for the parties involved, and today one can reach a colleague or a superior instantly with the touch of a button. BlackBerry smartphones are what started this trend on a big scale, and these gave businessmen the opportunity to check their emails at any time, speak on the phone and text each other at any time, and also make video calls at any time. The Apple iPhone soon found its way into corporate hands, and this eventually led to the introduction of Android based phones as well.

The latest entrant in the field is the Apple iPad and other competing tablets, and these perform all the aforementioned tasks with ease. It is very important for business organizations to embrace the latest technology for communication purposes. Doing so not only showcases an attitude that is open to new innovations, but it also adds an air of professionalism and technological superiority about the company itself.

The Importance of Business Communication

Business communication consists of two aspects, internal and external communications. Internal communications take place when people within the same company communicate and interact with each other. Large workforces in the biggest companies make this an essential aspect of running any business, and this involves the passing of orders, the reporting of results, the reporting of complaints, the discussion of new ideas, the examination of client needs, the determining of marketing strategies, the production of the goods and the motivating of employees. All of these aspects are crucial for the smooth running of a business, and embracing new technology in the modern world for these purposes will be nothing but helpful.

The other form of communication that is necessary is external communication, and this involves interacting with vendors, clients, customers, press representatives and legal representatives. All of these channels require great tact and showmanship, and no company can survive without following the proper lines of communication. The needs of the clients need to be understood, the progress needs to be regularly conveyed to them, the procurement of raw materials needs to be carried out, the synergy and partnership with other companies needs to be nurtured, and the customers need to be targeted properly. All of these tasks require a concentrated effort from all departments of the organization, and this can only be achieved through proper means.

The importance of business communication in modern-day scenarios must not be underestimated by any means, since this is the life blood of any company. Embracing new technology for this purpose is also essential, and all successful companies know this.

Beginner’s Guide to Diversification Strategy

The diversification strategy of a company is a corporate strategy intended to increase profits by increasing sales volume, which, in turn, is done by launching new products and identifying new market segments. It can be implemented at both, the business unit level and corporate level.

In the case of business unit level, the strategy can be implemented for the company’s expansion by coming up with a new segment related to the existing business. An apt example of this will be when a company specializing in pencil production opts for the production of erasers.

At the corporate level though, the target area is a new business, which is not related to the existing business unit. An apt example of this would be a company specializing in alcoholic beverages entering the airlines sector.

There are several methods by which diversification strategy can be implemented; the most common among which are acquisitions and joint ventures.

Types of Diversification Strategies

The diversification strategy of a company can include several plans, ranging from the development of a new product to licensing of new technologies, or a combination of these plans. Basically, there are three types of diversification strategies: concentric, horizontal, and lateral.

Concentric Diversification
In this case, the technology used in the industry remains the same, but the marketing plan is changed to a significant extent. This strategy requires technological similarities between the two business ventures. Also, technical knowledge turns out to be an advantage when it comes to concentric diversification.

Horizontal Diversification
In this case, the technology used is in no way related to the existing business of the company, and yet, they take its current customer base into consideration when coming up with new products. This strategy is advantageous in a competitive market scenario, wherein the company has a loyal customer base.

Lateral Diversification
As in the case of horizontal diversification, even lateral diversification stresses on products which are not related to the existing line of products. The exception, however, is that the company targets a new segment of customers, instead of catering to its existing loyal customers.

Pros and Cons

Pros of Diversification
Diversification can help the companies to achieve their potential in a developing economy. In the case of concentric diversification, a strong brand name can help in leveraging the new products belonging to that brand. It can help the company in spreading its customer base. It also helps in enhancing the product portfolio of the company by introducing complimenting products in the market.

Cons of Diversification
When it comes to diversification through acquisition, one needs to ensure that the people at the managerial level are well-versed with the process that needs to be followed for the company to be acquired. If you are not armed with people who can handle these things, starting from the grass root can turn out to be tedious task. One also needs to take into consideration the efforts required to run the business. If the efforts required are more than the profit, it is better off to stay away from the venture.

Lack of knowledge about the current situation of the market can really backfire on you from all sides. Going against the core values of the company, just for the sake of profit is also not advisable, which again limits your options.

Of the four strategies enlisted in the Ansoff Product-Market Growth Matrix, diversification strategy is by far the most risky, and hence, requires proper research before implementation. At the end of the day, accuracy in determining the target segment is the key to successful diversification.

Technology on Our Society

When we speak of the impact of technology on society, we always talk about the positive effects of technology and about how technology has made life easy. We talk about the Internet as an information resource and a communication platform and conveniently ignore the fact that an overexposure to it leads to Internet addiction. We often discuss how technology has made life easy but easily forget that it has made us overly dependent on it. Have you thought of the impact of technology from this point of view? Let us look at this aspect of technology here.

Impact of Technology on Society

Think of the days when there were no computers and no modern means of transport. Human life was highly restricted due to the unavailability of technological applications. Daily life involved a lot of physical activity. Life of the common man was not as luxurious as that of modern times, but he was more active. Exercise was integrated into routine physical activities. It was contrary to the sedentary lifestyle of today, which leaves no time for exercise and fills days with inactivity and laze. Today we don’t want to, and thanks to the advancement in technology, don’t even need to walk, move around, or exert ourselves physically to great extents in order to get things done. We have the world at our fingertips.

We think of technology as a boon to society. I am afraid; it’s not completely a boon. The Internet has bred many unethical practices like hacking, spamming and phishing. Internet crime is on the rise. The Internet, being an open platform lacks regulation. There is no regulation on the content displayed on websites. Internet gambling has become an addiction for many. Overexposure to the Internet has taken its toll. In this virtual world, you can be who you are not, you can be virtually living even after you die. Isn’t this weird? Children are spending all their time playing online and less or almost no time playing on the ground. Youngsters are spending most of their time social networking, missing on the joys of real social life.

Think of the days when there were no online messengers, no emails, and no cell phones. Indeed cellular technology has made it possible for us to communicate over wireless media. Web communication facilities have worked wonders in speeding long-distance communication. On the other hand, they have deprived mankind of the warmth of personal contact. Emails replaced handwritten letters and communication lost its personal touch. With the means of communication so easily accessible, that magic in waiting to reach someone and the excitement that followed have vanished.

Moreover, we have become excessively dependent on technology. Is so much of dependency good? Is it right to rely on machines to such an extent? Is it wise to depend on computers rather than relying on human intellect? Computer technology and robotics are trying to substitute for human intellect. With the fast advancing technology, we have started harnessing artificial intelligence in many fields. Where is the digital divide going to take us? How is our ‘tomorrow’ going to be? ‘Machines replacing human beings’ does not portray a rosy picture, does it? It can lead to serious issues like unemployment and crime. An excessive use of machines in every field can result in the under-utilization of human brains. Over time, we may even lose our intellectual abilities. You know of the declining mathematical abilities in children due to use of calculators since school, don’t you?

The impact of technology on society is deep. It is both positive and negative. Technology has largely influenced every aspect of living. It has made life easy, but so easy that it may lose its charm some day. One can cherish an accomplishment only if it comes after effort. But everything has become so easily available due to technology that it has lost its value. There is a certain kind of enjoyment in achieving things after striving for them. But with everything only a few clicks away, there is no striving, there’s only striking. With the developments in technology, we may be able to enjoy all the pricey luxuries in life but at the cost of losing its priceless joys.

Tips to Starting a Green Business

A green business is involved in manufacturing products or providing services that are environmentally friendly. All business operations in such organizations are committed to follow eco-friendly principles so that the environment is not adversely affected. They aim to gain profit without compromising environmental concerns. To motivate entrepreneurs to start new businesses that are environmental friendly, green business grants are provided by many government and non-government organizations. These grants can vary from a few hundred dollars to millions of dollars, depending on the business project and the organization granting it. Any business, big or small, which is based on an eco-friendly model, can apply for a green business grant.

Grants for Green Businesses

U.S. Environmental Protection Agency Grant
The EPA or Environmental Protection Agency of the United Sates awards grants to small businesses which are based on the ‘go-green’ concept. These grants are awarded annually in the form of a two-year contract. Entrepreneurs with green business ideas submit their proposals to the agency, which then selects proposals that are eligible for grants. For a business to qualify for this grant, three criteria must be fulfilled. First, the business must be science and technology based. Second, it must be based in the U.S. and third, it must have less than 500 employees. Under the EPA’s Small Business Innovation Research (SBIR) program, new businesses are awarded grants in two phases. In the first phase, businesses are given $70,000 for a period of six months to carry out research. Once the research work is complete, businesses submit a new proposal to the EPA. In the second phase, EPA gives $225,000 to grant holders for two years.

U.S. Department of Agriculture Grant
Under the U.S. Department of Agriculture Small Business Innovation Research program, small businesses with eco-friendly ideas, in the field of agriculture, are awarded grants in two phases. Businesses in the research phase receive grants up to $80,000 while the ones in the second phase receive up to $350,000 depending on the size of the project.

U.S. Department of Energy Grant
Entrepreneurs with green business ideas for energy use, energy production, environment management or nuclear nonproliferation, can qualify for grants awarded by the U.S. Department of Energy. These are again awarded in two phases. Phase I and II grants are for feasibility study, and research and development respectively. The holder receives $100,000 for nine months in the first phase and the same amount over a two-year period in the second phase.

State and Local Grants
Small green businesses can also apply for grants that are awarded under the state government and local programs. Every state has its own set standards for businesses to qualify under these programs. The information regarding programs running in each state can be obtained from state government websites and business portals.

Community Conservation Enterprises Grant
Community Conservation Enterprises or CCE currently awards grants to small green businesses that are initiated in Central America and Mexico. These range from $500 to $2000. The CCE supports business which help in improving quality of life of local people by providing products or services that protect the environment and use natural resources religiously.

Other Green Business Grants
Many corporations and non-governmental institutions offer grants to businesses that want to take a step forward to protect the environment. For example, CBS, a media giant in the United States, offers grants to green business projects. Another company, Retensa, also motivates entrepreneurs to enter into eco-friendly businesses, by awarding many grants from time to time. Some public utility companies also help people who wish to start eco-friendly businesses or expand an already existing green business.

Everyone knows how fast natural resources of our planet are depleting. The negative impact of various industries in the world is a big cause of concern. To make businesses realize this fact, and motivate them to take measures to work towards a cleaner and greener environment, green business grants are awarded. This initiative not only benefits the business owner, but also mankind and our planet.