While there have been several things we can do without, technology has also done several goods. The powerful transformative impact is evident in the business arena, as business franchises benefit from both the tolerant and undesirable effects of technology. Technology is part of the fabric of business, and to be successful, a business franchise cannot neglect technology and the digital world. It also helps business franchises to optimize their cost, fee, and profitability. But can the increasing use of technology change the way business franchises operate? What would be the tangible effects? Here’s how technology can change a business franchise’s operation:
Business franchises used to have a resource deficiency compared to the big companies out there. But technology has changed the playing field and made it a much more leveled experience. That’s not to say that massive companies still do not have a competitive advantage in terms of resources, but business franchises have more options available to them. Technology has made it possible for organizations to work with various companies and their customers.
Business franchises have also felt the impact of technology on their workplaces because some struggle to manage the small but tough workforce. Resources are often insufficient to attract top talent, and employers have had to resort to commissions or part-time employment. Still, technology has made it easier to retain and acquire talent. A big part has been improved collaboration. Employees don’t have to work in an office, and they don’t have to be local – small companies have the same specific ability to attract talent from around the world as many large companies.
But managing that workforce has changed, too. The old days of filing and filling paper cabinets have been replaced by digital options that can help save money and time. When it comes to the workplace and the workforce, technology is also impacting how business franchises can train talent. The traditional method of sending employees to regular training or events is being replaced by online ones. This is much cheaper, as it doesn’t have to affect a person’s ability to perform a regular task.
However, the result may not be entirely positive. Implementing any technology in the office requires a learning curve that can cause difficulties for smaller companies. It has led to fewer changes and starts, along with disruptions to the typical organization.
Enhanced Customer Relationships
Technology has also impacted when business franchises interact with customers in terms of service or product presentation. Technology has opened up more business franchise opportunities, from opening online stores to providing 24-hour customer service. Social media allows business franchises to implement marketing campaigns that can reach people all over the world. Having an online store means that not only can you attain these people, but you can also promote your products to them. Business franchises have significantly improved their expansion possibilities through websites, online stores, social media platforms, etc.
Customer interaction has also changed, allowing business franchises to gather feedback and data efficiently. For better or worse, business franchises may not have heard any negative or positive feedback from the pre-tech world. But now, it will be Facebook or Twitter sooner than later. The effect can be destructive, but it likewise has a positive possibility to change a business. The digitization of this world has inflicted a whole new system of risks that business franchises must manage. The unfortunate truth is that many are not yet embracing what they can.