Question

What are the pros and cons of running a business on smartphones? Who needs to use smarphones more: big or small companies? Why are smatrphones and technology such an important asset for companies today? Please elaborate and provide examples.

Answer 1

The Smartphone is the modern tool of handheld gadget which makes communication not only easy and convenient but also helps in accessing the data in real-time from any place or time, provided the internet connection is there. The pros and cons of a business being done on the Smartphone are there where the pros are:

· The reach is huge where the market of the business is thus extended over any other who are not on Smartphone,

· The transactions can be done via this device where the online transactions are possible,

· The cost of running a business is thus lower when done via Smartphone,

· The real-time decision making is easier if the business is on Smartphone,

The cons are, however:                                                            

· There is no physical infrastructure which may harm the consumers if the brand is new and have no previous experience,

· The consumers, especially people above 45 or 50 years of age may feel uncomfortable to be using Smartphone to do the purchase via Smartphone due to the buying behavior,

· The technological changes may make the business be in difficulty if there is a change of technology in the Smartphone sector.

Small companies and big companies can both use smartphones for the business. Nevertheless, smaller businesses are best suited to use the smartphone business model to keep the cost low for the business. The bigger business may use it for real-time decision making for its operations for real-time decision making, but the suitability is best for small businesses in the global market.

The business-like Amazon or Gofers uses the smartphone business model to reach a huge consumer base that gets the services like retails of cloths to vegetables sitting at home, the transactions to are done online. This tool gives a huge amount of metadata which helps the small businesses to understand the audience and the demands along with feedback of the consumers to make itself well accommodating the market needs to grow. The businesses get the needful reach with the smartphone and this would make the decision making and communications between various stakeholders easier and cost-effective.