The Impact of New Technologies on Business: E-commerce, Remote Work, and Ethics

1) Business and New Technologies

Working from Home

Nowadays, new technologies are transforming the business landscape. This composition will explore some of these impactful technologies.

Firstly, working from home has emerged as a prominent trend. This new technique allows individuals to work for a company remotely, eliminating the need to be physically present in the workplace. Working from home offers both advantages and disadvantages.

Advantages of Working from Home

• Cost Savings: Working from home allows individuals to save on various costs associated with commuting to work.
• Flexibility: Workers can enjoy the flexibility of choosing their own work hours, lighting, and overall work environment, enabling them to work in a framework that maximizes their happiness and productivity.
• Reduced Stress: By eliminating the stress of commuting in rush hour traffic, working from home promotes a more relaxed and productive work environment.

Disadvantages of Working from Home

• Isolation: Professionals working from home often experience feelings of isolation and loneliness due to the physical distance from their bosses and coworkers.
• Distractions: While office distractions are minimized, working from home can present different distractions, such as interruptions from children, friends, and family.
• Difficulty Separating Home from Work: The temptation to engage in household matters while at home can make it challenging to maintain a clear boundary between work and personal life.

E-commerce in Crisis Periods

Another significant technological advancement is electronic commerce (e-commerce), which encompasses any business or commercial transaction involving the transfer of information across the Internet.

While the global economy has been impacted by recessions, e-commerce has demonstrated resilience during economic crises and continued to grow in many countries. This growth can be attributed, in part, to consumers' increasing reliance on electronic markets due to their cost-effectiveness compared to conventional markets.

Advances in Business Ethics

Finally, the emphasis on business ethics has grown in recent years. An increasing number of companies are prioritizing ethical considerations, such as environmental sustainability, fair labor practices, and strong relationships with stakeholders and suppliers. To uphold ethical standards, many companies are implementing codes of conduct that all employees must adhere to.