Businesses play a large role in the capitalist society of the United States. As much as entrepreneurship and businesses impact society, society largely impacts businesses in return.
External and internal influences in society can cause adaptation within a company. The constant changes in society and economics forces businesses to quickly modernize their ways.
In the current society, technology is an everyday necessity not only for regular citizens but for companies as well. As technological advances are being created at a rapid rate, businesses struggle to keep up with the changes.
Technological forces impact how and what products are developed, how to advertise to consumers as well as how sales are tracked and managed.
For example, if a new version of adobe Photoshop is released, businesses such as magazine companies who use the program would need to upgrade in order to keep their editing process up-to-date so the best version of the product can be produced.
If a company does not have the funds to purchase the new adobe software, it may resort to laying off someone from a lower position to make up for the cost. Although the company will be losing a hand, it will be gaining the technological software needed to make the production process much more convenient.
In addition to technological advances, sociological changes also impact businesses today. Sociological forces influence what consumers buy and what means they use to obtain the product.
Currently, there has been an increase in online purchasing and reading reviews before deciding to purchase a good or service. Based on online reviews given to a product, the consumer will then decided whether or not to buy it.
This change of using the internet, rather than physically going to a store to purchase, forces businesses to adapt. As a result, multiple stores now have websites where consumers can order products from at their own convenience. This shows that businesses must be willing to advance and adapt to consumer needs and preferences in order to effectively deal with the sociological changes.
There are many factors that currently influence the decisions that businesses make in order to become and remain efficient as well as consult consumer needs. Businesses have to constantly stay on top of the latest technology even if that means laying-off some positions.
They also have to pay close attention to sociological changes in order to continue to provide the best for consumers at a moment in time.
The never-ending changes in technology, sociology and many more greatly impact businesses currently and will continue to in the years to come.