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In: Economics

Describe in 250 words Based on your review of the current day, explain how today's business...

Describe in 250 words Based on your review of the current day, explain how today's business world is changing and how you may use the skills you learn to differentiate yourself from other people. Please type

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Expert Solution

Technology has revolutionized the way businesses operate by allowing small businesses to level the playing field with larger organizations. Small companies use an variety of software to build strategic advantages on the economic marketplace – from servers to mobile devices. Small business owners should consider implementing technology to streamline integration in their planning process and make room for expansion in the future. That allows owners to build operations using the most successful available technology.

Computer technology helps small companies develop the way they interact. For example, e-mails, text, websites, and apps facilitate better communication with consumers. The use of several types of communication methods in information technology allows businesses to saturate the economic market with their message. Such electronic communication methods can also allow businesses to obtain more customer feedback.

Small companies can increase the efficiency of their workers by using the technology. Computer programs and business applications typically permit more information processing by employees than manual methods. It is also possible for business owners to implement business technology to reduce the amount of human labor in business functions. This enables small businesses to avoid paying labor costs along with the benefits to employees.

Critical thinking is a key to smart decision-making. And that, in turn, is key to succeeding on just about anything. Lately, however, people seem to have forgotten how to think logically. Our ability to challenge what is true and what is not, to think critically and not generalize from a single data point, to consider causal relationships, is more important today than ever before as we are constantly bombarded with information and sound bites.

Concentration and discipline have always been crucial to success in just about every area, but for for the most disciplined of us, management of distraction has become more challenging these days. And this is unlikely to improve in the immediate future. Now, you have to learn more than ever how to shut down the noise without shutting yourself off from what really matters. This is not an easy matter. But you can't get anything done if you're too busy and undisciplined to concentrate on what's important. And if you can't accomplish things, someone else will

We become virtual images of our real-world selves, in a very real sense. If those people replicated the real us, that would be fine. Instead, avatars that represent social norms, common themes, and wishful thinking are carefully designed. The knowledge is filtered which we share. More and more we are behaving like sound bites, personified virtual actors playing cardboard characters in a physical world of two dimensions.

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