The Evolution of Business

Posted by cathy1213 on Jun 26, 2012 in Business, Technology | 0 comments

Back in the Medieval Ages, people would barter to trade for goods and services. A farmer would exchange his corp for a certain amount of coal from a coal miner.  This one-on-one method was simple and straightforward. Society has evolved since the Medieval Ages and businesses have become more sophisticated as well as complex. Consumers have more buying power than ever and businesses have evolved into these big, conglomerates, multinational firms.  With running a large and powerful company, there is the high probability of creating huge problems, if not managed properly. Fortunately, in this digital society, we have advanced technology and softwares that can greatly speed up business operations in an efficient and effective manner. Solutions such as dynamic discounting or the order management system has proven to be productive in reducing time, cost, and errors.

Before the mid 70’s payment was done face-to-face at the location of the business. If there were paperwork to be done prior to your purchase, then the payment process took even longer. With the advancement of computers and the internet, we have the option as well as the capabilities to make purchases and payments online while at home or at any location. Softwares such as e-invoicing, makes payment simply, fast, convenient, and efficient for businesses as well as consumers (Source: E-Invoicing by Dolphin). These are just some of the many technologies that have changed the way business operate. Who knows ten years from now, what business operation will be like. Fortunately, we can say it will be a lot more sophisticated, complex, and even more convenient.