Does technology only bring benefits to business? To answer this tricky question, we need to be more careful and thoughtful because it depends. It depends on which side of the business people are talking about. For example in the news, Kindle e-book does provide more alternatives and bring convenience to customers, which is definitely a positive effect on both consumers and people who work in Amazon. However, if we see the opposite part of this phenomenon, it’s very obvious that workers in bookshop will get hurt because they will lose a considerable number of consumers and thus the bookstore will lose money and in turn employees in the bookshop will lose their jobs.
Apart from that, I was also thinking of the costs of companies if an advanced technology was introduced. Apparently, the costs of labor and capital will be reduced. At first, the benefits brought will be remarkable. But as an increasing number of technology tools involved, the marginal benefit is going to start to decrease. Another thing is that the rate of unemployment will grow up because the introduced technology will somehow cut off the costs of labor, which means that people again will lose their jobs.
In conclusion, although technology does boost economic growth of a business on some aspects, when it comes to other aspects, technology may not be that helpful or effective.
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