The Group of Technologies to Fulfill the Requirements of the Small Business - Term Paper Example

Technology Report Name Institution Name Date Table of Contents Table of Contents 2 1.0 Purpose of the Report 3 2.0 Technologies 3 2.1 Cloud Computing 3 Features 3 Application 4 Pros and Cons 4 2.2 Website 5 Features 5 Application 5 Pros and Cons 5 2.3 Social Media Platforms 6 Features 6 Applications 6 Pros and Cons 7 2.4 Payments Methods 7 Features 7 Application 8 Pros and Cons 8 3.0 Recommendations 9 4.0 References 11 1.0 Purpose of the Report The purpose of the report is to advise and provide recommendations for a small market-based business that wants to move online and needs to market effectively and sell products to users in a time effective way. It means that numerous technological requirements are expected to be used to accomplish this requirement. Therefore, the report discusses some of the technologies that apply to a small business, and the recommendations are aimed at highlighting the group of technologies that can be used to fulfill the requirements of the small business. 2.0 Technologies A small business requires numerous technologies to support a business that is moving online (Huang & Benyoucef, 2013). The technologies should include the numerous resources that are used in traditional business such as accounting records, means of communication and strategies to engage the customers. Therefore, similar technological components are proposed to address and improve the effectiveness of the business when it operates online (Huang & Benyoucef, 2013). 2.1 Cloud Computing Features It is outsourcing some of the operations to another company. For example, services such as data storage can be outsourced to another company. The purpose of cloud computing is to create an environment in which resources are brought together, and capacity of use is inexhaustible. Microsoft Cloud Computing is the appropriate technology to fulfill the requirements of the small business pursuing the online market. Most of the software that are common to businesses are linked to Microsoft and acquiring the services of Microsoft Cloud Computing will solve the software requirements, storage, and processing needs. The users of the Microsoft Cloud Computing are required to pay for storage space and that period in which the users are using the technology. Application The company may sometimes have voluminous information across the world, and use of cloud computing reduces expensive because the resources used are based on the expectations and are scalable in nature. For example, the outsourced services will dependent on the requirements of the company (Huang & Benyoucef, 2013). Instances exist in which a business requires more of storage space and the business will only be required to pay for the storage space used. In addition, the business may require more processing speed because of requirements such as analytics and using cloud-computing addresses the problem rather than acquiring advanced hardware and software. Pros and Cons The advantages of cloud computing include scalability, cost savings, reliability, manageability, and strategic edge (Huang & Benyoucef, 2013). The technological world is changing at a faster rate, most technological components become obsolete within a short time, and the expectations of business also changes (Bertot, Jaeger & Hansen, 2012). Therefore, the use of cloud computing ensures the business continues to evolve as the technology. The disadvantages include security since the control is given to a third party, technologically related downtime, vendor lock-in, and limited control (Parsons et al., 2012). Technology sometimes is unreliable and is faced with numerous challenges, and since an online business should be operational full time, any downtown can affect the entire business. Sometimes, the business owners may be forced to acquire additional hardware to create a backup system in case complications occur. 2.2 Website Features The website is created, and important information about the company are included (Bertot, Jaeger & Hansen, 2012). The website is developed based on the operations of the business and pages are included to fulfill the requirements of the consumers. The website can also be used for e-commerce, which complements the requirements of online businesses. Application The website can be used to sell the products, present the products to the customers and engage the customers. It ensures product presence can be seen online (Hoggatt, Shank & Smith, 2014). In addition, the views of the customers can be analyzed based on the number of persons visiting the website and the information in which the customers target. Pros and Cons The advantages include reaching a wider audience, easy access to business information, it is available through and it is not inhibited by geographical complications, allows for publicity and advertising, can be used for viral marketing, and securing the business online since another person can create a fake website about the company (Hoggatt, Shank & Smith, 2014). The disadvantages include reliability, crashes and uptime, challenges in reaching the right people, bad publicity, spam, and challenges in usage of the website if it is of poor quality (Parsons et al., 2012). However, these challenges can be avoided by creating a good website that can be monitored easily to ensure the requirements and expectations of the customers are addressed accordingly. 2.3 Social Media Platforms Features A business opens an account and uses it to engage the customers (Parsons et al., 2012). Two social media platforms will be opened, which are Twitter and Facebook. It is easier to create a twit in case of Twitter and a post in case of Facebook, in which additional users of either Facebook or Twitter can access the information based on the settings of the users. The way the two social media accounts operate is premised on networking in which persons sharing certain features and have specific characteristics create friendship among self. A business can target one of the users, and the information spreads to other “friends” within the group setting. Applications It provides numerous means of marketing and engaging the consumers (Huang & Benyoucef, 2013). It can be used as a follow-up process to a product or to collect information from the customers since information from different sections of the world can be accessed within a short time (Tsai et al., 2011). Moreover, the marketing ensures engagement of one account user, may trigger forwarding of the messages resulting in a situation more people access the same message with a short time. Pros and Cons The advantages include easiness of creating the account, the viral nature when used for marketing, easier to get feedback from the targeted audiences, and customization is easier e.g., there is option of free account or paid account (Parsons et al., 2012). Moreover, it is easier to engage target audience meaning messages can reach the expected segment directly. The disadvantages include creation of fake accounts, the reputation of the brand (company) can be spoilt, wrong messages can be posted, and frequent monitoring is required to address and fix messages that are aimed at spoiling the brand’s image (Hoggatt, Shank & Smith, 2014). In addition, if a wrong message is posted and goes viral, the reputation of the company will be affected meaning the business will have to invest in public relations. 2.4 Payments Methods Features Originally, plastic and real money were used for transaction purposes (Hoggatt, Shank & Smith, 2014). The advancement of technology has resulted in newer Internet-based payments system such as PayPal and MasterCard (Huang & Benyoucef, 2013). PayPal allows users without a card to send and receive money while MasterCard allows users to owner cards and also can use their emails to sent money. Hence, money moves instantaneously across platforms and through geographical regions with minimal hindrance. Application Since international customers are also targeted, the use of Internet-based purchase is appropriate, and it is important for the company to have an account on the online-based payment companies (Parsons et al., 2012). When compared with other methods such as Western Union and Money Gram, it is easier to use Internet-based models because authentication and other processes are faster. Moreover, it is an instant method, meaning the consumers and the business can see the transactions within seconds or minutes ensuring the entire business transaction is completed on time. Pros and Cons The advantages of numerous payment systems include the speed of payment, the flexibility of making payments, people can purchase products from far geographical regions and it is easier to access the amount deposited into these accounts (Tsai et al., 2011). The authentication process is instantaneous because the entire process or during registration, the owners are fully authenticated. Hence, it is an easier method to send money. The disadvantages include money laundering related issues, cyber crimes resulting in stealing of the funds, concentrations on dollar, pounds and Euros means that there are fewer options that can be used to make payments and developmental related complications such as lack of such infrastructure in some regions such as developing countries means payments methods are limited (Goyal & Madhvapaty, 2014). 3.0 Recommendations The following are some of the recommendations that are appropriate for fulfilling the requirements of the small business: Cloud computing is the preferred method since it brings together numerous applications, and it is cost effective (Hoggatt, Shank & Smith, 2014). When a business decides to online, the success of the business is in doubt and rather than purchasing the numerous software and applications, the best option is to capitalize on the resources and benefits associated with cloud computing (Giordano & Fulli, 2012). Computers are the hardware and even if cloud computing is used; the computers are still required (Parsons et al., 2012). It provides the platform in which information can be keyed into the system, or the information can be viewed (Tang et al., 2014). Moreover, the computers can form the basis in which the information can be analyzed to arrive at a definite conclusion. Payments methods are crucial because, in the traditional approach, plastic cards and cash were frequently used, and it is attributed to the nearness of the customers to the business. However, online-based business requires means in which consumers can make payments from a different geographical location. The business should analyze the available options and choose the most appropriate Internet-based payment systems (Berman et al., 2012). The weaknesses should be analyzed before deciding the most appropriate payment method. The website is required since it forms one of the marketing platforms (Tsai et al., 2011). A business moving online increases chances of been viewed and the website forms the basis in which a customer interested in accessing additional information can use to understand the products and services the business offers (Hoggatt, Shank & Smith, 2014). In addition, the website can be used to advertise the product, and the customers can also purchase the product (Tang et al., 2014). Hence, the website will be the online shop in which customers view the products offering and determine the most appropriate products based on their respective requirements. Social media can be used for marketing purposes (Tsai et al., 2011). Numerous people have online accounts and creating one that is targeting audiences and selling the products of the business provides means in which the consumers can be engaged (Hoggatt, Shank & Smith, 2014). Moreover, it is easier to generate the message, and more people can access the information easily (Tang et al., 2014). However, it is important to have Internet policy to make the online and social media activities to prevent either the staff or other people from spoiling the reputation of the business. 4.0 References Berman, S. J., Kesterson-Townes, L., Marshall, A., & Srivathsa, R. (2012). How cloud computing enables process and business model innovation. Strategy & Leadership, 40(4), 27-35. Bertot, J. C., Jaeger, P. T., & Hansen, D. (2012). The impact of policies on government social media usage: Issues, challenges, and recommendations. Government Information Quarterly, 29(1), 30-40. Giordano, V., & Fulli, G. (2012). A business case for Smart Grid technologies: A systemic perspective. Energy Policy, 40, 252-259. Goyal, S., & Madhvapaty, H. (2014). Leveraging social media to enable operational efficiency for cloud computing used by software providers. International Journal of Information Technology & Computer Sciences Perspectives, 3(2), 923-927. Hoggatt, J., Shank, J., & Smith, J. (2014). Century 21 computer skills and applications, Lessons 1-90. London: Cengage Learning. Huang, Z., & Benyoucef, M. (2013). From e-commerce to social commerce: A close look at design features. Electronic Commerce Research and Applications, 12(4), 246-259. Parsons, J., Oja, D., Beskeen, D., Cram, C., & Duffy, J. (2012). Computer concepts and Microsoft Office 2010 Illustrated. London: Cengage Learning. Tang, C. Y., Lai, C. C., Law, C. W., Liew, M. C., & Phua, V. V. (2014). Examining key determinants of mobile wallet adoption intention in Malaysia: an empirical study using the unified theory of acceptance and use of technology 2 model. International Journal of Modelling in Operations Management, 4(3-4), 248-265. Tsai, J. Y., Egelman, S., Cranor, L., & Acquisti, A. (2011). The effect of online privacy information on purchasing behavior: An experimental study. Information Systems Research, 22(2), 254-268. Read More