The Impact of New Technologies on Business and Society

1. BUSINESS AND THE NEW TECHNOLOGIES (TECHNOLOGICAL GROWTH)

Introduction

This study analyzes new technologies, their origins, and their development, exploring the rise of technology and its relationship with businesses and society.

Origin of New Technologies

The technological bubble of the 1990s, marked by the birth of the internet and the end of the Cold War, sparked the development of new technologies. This period led to globalization, with economies striving for technological and economic advancement. High-end computers with operating systems like Windows NT (1990), 95, 98, XP, or IOS emerged, streamlining administrative processes and business operations.

Effects of the New Technologies

The effects of new technologies are evident in both society and companies.

In society, technological advancements have facilitated communication through smartphones and computers, simplifying daily life but also creating dependence on electronic devices.

In companies, technology has accelerated administrative processes, improved intra-company and inter-company communication, and made transactions and analysis faster and easier.

Overall, technological development has helped solve major global problems, such as improving medical assistance and reducing transaction costs.

Conclusion

Globalization played a significant role in driving the development of new technologies. However, it's important to acknowledge that other factors also contributed to this growth.

2. BUSINESS ETHICS

Introduction

This study examines business corruption, its origins, and its development, focusing on the causes and effects of business corruption in Spain.

Causes of Business Corruption

The pre-crisis situation, characterized by inflated housing prices due to the real estate bubble, was a major cause of business corruption. Banks granted high-risk mortgages without proper endorsements, known as subprime mortgages, prioritizing high profitability despite the risk of non-payment.

Another example of unethical behavior was the use of "black cards" by advisors and executives of Caja Madrid and Bankia. They used client funds for personal expenses without paying taxes, prioritizing personal gain over the company's well-being.

Effects of Corruption

Economically, the high number of defaults on subprime mortgages led to bank instability and a near-collapse of the banking system. The government had to intervene and rescue certain banks to prevent a severe economic downturn.

Many construction companies faced bankruptcy as housing prices plummeted and buyers disappeared.

Socially, the scandals eroded trust in banking institutions, and the non-payment of high-risk mortgages resulted in numerous evictions.

Conclusion

Business corruption had severe negative consequences. Further research could explore the cultural factors within Spanish society that contributed to the crisis.