Small Business Owners: Utilizing Technology to Improve Profits

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The following are other ways business productivity software drives business processes more efficiently to gain optimal results:

Create an open and communicative environment.

By storing appraisal information within a formal database, managers can more easily communicate business strategy and create measurable goals for their employees that will support overall company objectives. In allowing employees to see the whole picture and understand better how individual goals fit into the company’s business objectives. This can create a energized and engaged employees, thereby raising the business productivity of the company.

Motivate your employees using technology.

Based upon the information gathered in an online performance evaluation, managers can compare current skills with those required for advancement or other recognition or reward opportunities that present themselves as the manager tracks progress on employee goals throughout the year. You may also find you need to redirect employees to different departments if you feel their business productivity could increase elsewhere. If there are impediments to better performance, the company should review why it is happening and try to eliminate these through better allocation of resources or additional training.

Monitor business productivity and employee progress on goals.

Business productivity software solutions enable managers to more easily track progress during every phase of goal completion and offer immediate reinforcement or coaching to keep performance and deadlines on track in daily operations, and utilize performance measurements for strategic planning.

Electronic Commerce

There are many business applications related to e-commerce, from setting up your online storefront to managing your supply chain to marketing your products and services. These technologies fall into three main categories:

Business to Business(B2B)

  • Purchasing indirect supplies
  • Look for catalogue-based websites offered by suppliers for corporate purchases, similar to business-to-customer websites, for purchasing indirect supplies such as office furniture, pens, paper, and general office equipment.
  • Leveraging your existing Web presence
  • Improve your existing business-to-customer e-commerce website. Greater sophistication can be added into your online store to target your business clientele.

Business to Customer(B2C)

The global reach of the Internet has allowed many businesses to sell their products and services online, both at home and abroad. An electronic storefront is a website with many pre-built e-commerce components like electronic shopping carts and secure payment gateways that you can use to set up an online store.

Internet Marketing

Everything you do to promote your business online is Internet marketing. For example, Internet marketing strategies include (but are not limited to) website design and content, search engine optimization, directory submissions, reciprocal linking strategies, online advertising, and email marketing.

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