Impact of Technology & Ethics on Modern Business
Business and New Technologies
This text discusses the impact of technological growth on businesses. We are living in the age of technology. Over the last two decades, technologies have developed greatly, impacting daily and working life. Today, almost everything is done virtually or through a device. All of these changes have also changed the market and the way of working.
Thanks to the growth of technologies, businesses have experienced significant changes. Currently, bosses can be in constant contact with employees via email or instant messaging and use programs to manage inventory or track funds. This allows them to work remotely and facilitates everyday tasks. The implementation of technologies in business has advantages and disadvantages.
Advantages of Technology in Business
- Cost Savings: For example, reduced transportation costs.
- Time Savings: Programs increase productivity.
- Improved Communication: Increased speed of communication (e.g., electronic mail instead of traditional mail).
Disadvantages of Technology in Business
- Technology Dependency: If there is a virtual shutdown, the system goes down, and nobody can work.
- High Costs: Keeping technology up-to-date (computers, programs, etc.) can be expensive.
In conclusion, after analyzing the advantages and disadvantages, if money is available, it is a good investment, as it can bring many benefits. However, it is recommended that companies do not *only* work virtually because if there is a failure, work may not be possible, leading to lost time and productivity.
Business Ethics
The following text discusses the important and current topic of business ethics. In recent times, many cases of corruption have come to light, not just in Spain but also in the rest of the world.
The problem of corruption has been uncovered in recent times due to the need of all countries to increase fundraising. One of the main problems is tax evasion: on the one hand, those who do not declare to the treasury, and on the other hand, those who take the money out to tax havens to avoid paying taxes.
Undeclared Income
Some companies prefer to charge “in black,” that is, making invoices without VAT. Currently, the figures for Spain’s submerged economy are very high, exceeding 253,000 million euros. This situation has become more serious since the crisis began; since 2008, the submerged economy has increased by 60,000 million euros. This situation affects everyone, as revenue is lower. The citizen belief that the government is not fighting against fraud causes these activities to increase.
Tax Havens
A tax haven is a country that exempts foreign investors from paying taxes if they maintain bank accounts or establish companies in its territory. This capital flight is not viewed favorably by fiscal policymakers. Ultimately, a significant portion of their fundraising escapes with it. Some of the most famous tax havens in the world are the Bahamas and the Cayman Islands.
The solution to the problems facing the Spanish economy is mainly the implementation of a more efficient government and harsh measures. It is also necessary to ensure that politicians accused of corruption, and this unethical behavior, are held accountable, and that this accountability extends to entrepreneurs.