Digital Age and Dynamic Business Environment
The digital age, as per yourdictionary.com is also called the information age, is defined as the time period starting in the 1970s with the introduction of the personal computer with subsequent technology introduced providing the ability to transfer information freely and quickly.
The digital age, as per yourdictionary.com is also called the information age, is defined as the time period starting in the 1970s with the introduction of the personal computer with subsequent technology introduced providing the ability to transfer information freely and quickly.
The time period in which we live now where Internet and email are available is an example of the digital age.
The digital age technologies have displaced established technology resulting in a completely new way of doing business and creating opportunities for emergence of a new industry.
These technologies have disrupted the way traditional companies have conducted businesses and both old and new businesses must embrace these disruptive technologies to stay relevant and to meet customer needs.
Here are a few examples of disruptive technologies in 1990’s that transformed established businesses to newer ways of working:
- personal computer replaced typewriter
- Internet enabled Email replaced letter-writing disrupting greeting card industries.
- Cell phones enabled people to call anywhere disrupting telecom industry.
- Laptop and mobile computing made mobile workforce possible.
- Smartphones disrupted pocket cameras, MP3 players, calculators and GPS devices,
- Social networking disrupted telephone, email, instant messaging and event planning.
The last decade has seen an increased intensity in industrial competition, in which cycle times are shrinking and the volatility, uncertainty, complexity, and ambiguity have opened opportunities and challenges alike
The above listed are just a few examples of disruptions in the 1990’s that have set the stage for continuous evolution in technology to what is observed today. Business services functions – finance, human resources, procurement and IT – are under pressure to adapt the way they deliver services to the demands of the digital age.
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