PRESENTED BY:
Ranjit Nair
Arnab Midya

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ABSTRACT
Using stones and rocks to butcher dead animals, to date, this was the first known use of technology on earth. Since that time, both we human beings and our technology have evolved. Over the course of history, technology has evolved from stone flakes to a world of space travel and super-computers. The increased availability to information could lead to the development to several necessary and desired advancements in technology over the next ten years that could affect the world. The purpose of this paper is to enlighten that how the organisation or business group gets developed due to implementation of the advanced technologies. There are some positive sides and also some negative sides of the advanced technologies in entrepreneurship. One of the major aspects of development of any organisation is the type of technology being used in the organisation. If an organisation is using advanced technology with proper use of resources then, it can definitely create a good future both for itself and its employees. The implementation of advanced technology not only improves the quality of product of the company but also it gives to its employee to interact with the new and latest technology which in return enhance the skill of the employee of that particular organisation. If we focus on the organisation running in the developed countries then we can see that using advanced technologies also removes the dependence of organisation on the man power which in turn increases the unemployment but ultimately it makes resources for the organisation. Technological advancements have made the world smaller, and have made things easier. It certainly has managed to enlighten the society for the very better mankind and this certainly has a very positive impact on the education reform also. But it has also left mankind paralysed to some extent.
KEYWORDS:
Entrepreneurship, Organisation, Technology, Implementation, Development, Resources, Profit.
INTRODUCTION
The theory of technology describes matter, energy and information and their interrelationship. Technology is the backbone of development of any business and advancement of the technology increases the development rapidly. This paper discusses changes that have occurred and will occur in entrepreneurship as a result of evolving technology. It’s important to consider how entrepreneurship and society have adapted to technological changes so that we can anticipate what might happen as a result of future changes. The concept of rapid change is exciting and scary. But we don’t need to be worried because we can learn from the past and anticipate the future. That’s a large part of what this study unit is about. Advancements in technology such as internet, computers, and more art education programs have played a major effect in the development of industry. Technological advancements impact not only on any organisation but also on water, food, land, population, governance, social structure, energy, health, economic development, education, defence and conflict, environment and pollution. With the advancement of technology, computers are bridging cultures and linking people in a way that otherwise could not be achieved so easily and this makes an entrepreneur successful.
ADVANCEMENT IN TECHNOLOGIES
COMPUTERIZED CASH REGISTERS
When we think about the impact of advanced technology on business, we might not remember a time before computers. Computerized cash registers and scanners are unremarkable. Buying and selling stocks and other items on the Internet may be a bit newer, but that sort of e-commerce is already commonplace as well.
AUTOMATIC PRODUCTION
Production lines around the world are being computerized. The major automobile manufacturers use giant automated production lines to move vehicles through the assembly process. Many manufacturers use robots for many portions of assembly work. Big business can afford to implement costly robotics but such solutions aren’t often realistic for small businesses or newly start business. However, in the case of computer-controlled production lines, this solution has become feasible for manufacturers of all sizes.
E-BUSINESS
Technology exists to simplify buying and selling processes as well. Let us consider the payment portion of a credit card cycle, many companies allow us to log on with a user identification procedure and see the charges that have been posted to our account. We can authorize the transfer of money directly from our bank account to the credit card company so that we don’t even receive a bill in the mail. That way, we don’t have to write a check and mail it to the company. The company receives the money electronically, which simplifies the posting process. No one has to open an envelope, enter the appropriate account number, and process the check. So we see that, although credit cards have been around for quite a while, advances in technology have made it possible to automate additional processes without compromising security.
INFORMATION TECHNOLOGY
• Information technology is the term used to include everything from faxes and phones to computers and the Internet. It continues to transform businesses and industries. Information technology is increasing efficiencies, cutting costs, driving customization of products and services, and increasing the speed of commerce. As a result of IT, whole new industries and products are emerging. A prime example of that trend is the thousands of new jobs created by the Internet.
• Without instantaneous global communications, the new economy wouldn’t be possible. It’s critical to be able to send and receive all sorts of data worldwide. And it’s essential to be able to do it easily and inexpensively. Data could be anything, from documents to video and multimedia. Costs of data transmission have decreased dramatically, which is a measure of economic progress.
ROLE OF TECHNOLOGY ON BUSINESS IMPROVEMENT
POINT-OF-SALE TERMINALS
When we purchase an item in a grocery store, the price of the item is displayed when the checkout clerk scans the Universal Product Code or UPC. Do we remember a time when each item was individually priced? Before UPCs, there were price stickers affixed to every item, or the amount was stamped directly on each product. If the price of an item changed, the price sticker had to be replaced, or the price stamp had to be changed to the proper price. In order to check out, the checkout clerk had to locate the price on each item and key in the proper amount on the cash register. Technology changed all of that. The cash register became a point-of-sale (POS) terminal. The prices of items are all stored in a central computer. When the UPC is scanned, the computer looks up the current price of the item. Both the product name and the price are displayed on our receipt. That’s the transaction that we see. There are other transactions in the background that we don’t see. The sale of the item decreases the inventory of that item by one. The computer does this calculation automatically as our groceries are checked out. If the available supply of an item falls below a pre-specified reorder number, the computer triggers a reorder for the item. When new items are received, they’re added to the inventory in the computer as they’re stocked on the shelves. Changing the price of a product is simply a matter of changing the price stored in the computer for that product. That’s certainly less labour intensive than changing the price on each and every item on the shelf. The capabilities of POS terminals have improved business processes, making businesses more productive by automating previously labour-intensive processes. Reduced labour costs reduce overhead, allowing businesses to be more competitive in pricing the products they sell.