Technology usage and the knowledge of tools

applied science usage and the knowledge of tools engineering scienceis the usage and knowledge oftools, techniques,crafts,systemsor methods of organisation(Merriam-Webster). It has brought the revolution in the line of products world. It has brought the business around the world under a common and cover platform. It has eliminated the business practices to be restricted to a single place. Now the clients and the companies give up open interface of interaction, they can utilely communicate with each opposite for example even sitting at home, aeroplanes or from any deferral of the world. With the advancement of the engineering science and innovation of new methods of colloquy the likes of radio set Technology has further given birth to the information systems management influence which has removed the barriers to all the information flow and its management. It has aligned the pace of engineering to business complexity while creating the bridge between the developing of han dicraft and trade around the world.It has transformed the barter trade era to real agile billion dollars e-business industry, from research and development, projection of any business, exertion to the actors line of any sort of business services is controlled and channelled by the conjunction of mixed form of applied science aligned together. With the origin of information system it has do the business needs and expansion of various small and bigger enterprises actually transparent and at a very low cost, enhancing their capabilities to handle, record and reserve the information like employee and clients profiles more accurately while removing the possibilities of human phantasm and dependency. For example companys like Amazon and Dell has elevated the idea of globalisation into a reality with the use of technology.According to Jagdish et al (2004), Globalisationdescribes the go by which regional economies, societies, and cultures construct become integrated through a glo bal network of communication, transportation, and trade. They were are able to reach out to customers globally and deliver their products at the doorsteps while making informed decisions, tracking the customers pose while using internet to broaden their markets research more appropriately. As the result of technological innovation, the real cost of information processing and communication have fallen dramatically. It helped to manage and create globally dispersed production system while orchestrating globalisation of their products.Considering technology in transportation, with the development of commercial jets and the introduction of containerisation has revolutionised the transportation business while lowering the cost of transit goods over long distance. For example the fresh fruits and flowers can be exchange in various parts of the world despite its origin of growth at any place. Furthermore the introduction of Semi Automatic melody Research Environment (SABRE) system, air lines, hotels, railways, tour companies and millions of customers worldwide where connected for the quick come in bookings, travel information, fasters and accurate payments options (Computerworld, September 2002).According to Catel et al (1990), technology and its effective management of global supply chain, withintroduction of electronic information twitch (edi), it has connected suppliers, manufacturers, shippers, and customers, eliminated the time delays and paperwork, while increasing the flexibility and responsiveness on with decentralising the effective management decisions in the hands of particular unit. Emails have further made all communication very instantaneous and with outsourcing, many companies have reduced its operational cost.Companies like Wal- Mart used the technology to solve logistics problems, created new channels to market to identify and track sales on individual items. Super markets like Tescos have equipped their cater with a wireless device which provides them with the info of the products available to be interchange on the shop shelves and what is stored in the stockrooms. It has eliminated the manual checks required to be carried out, indeed providing the employees competitive advantage to provide effective customer services (The Times, twenty-sixth march, 2002).Considering the role of technology in banking sector (Ilyas-Ur Rahman, 2007) it has transformed the phase of the sell banking while incorporating anytime and anywhere baking facilities. It has increased the reliability and revolutionised the financial activities like global funds transfers across the world in few seconds. Technology has further introduced net and mobile banking facilities for its customers. Banks consider technology to be its school principal factor to sustain itself in the market to retain the competitive position across various geographical locations. Technology has improved customers services in bank, helped private sector banks to achieve economies of Scale while communicating data at low cost and efficient way. Technology has created the strong match on profitability, competitive pressure and customer needs.Therefore, technology is the key to measure out performance, identify areas of problems, plan and restructure future strategies in each and every component of a business activity. Thus the application of advanced technology and information system tools is to get desired in depth data which is vital to interpret, evaluate for decision making process, prior to overhaul, restructure and to rectify organisations for becoming efficient business models. The focus will be to take advantage on voids for developing and exploiting new market opportunities in every winsome of economic environment even before the competition emerges.