Business and Technology Drivers in Telecommunications and Networking Concepts, Essays (university) of Financial Accounting

The relationship between technology and business, and how businesses need to keep up with technology to provide the best customer service. It explains what business drivers are and how they vary by business needs. The document also identifies three significant drivers regarding networking and telecommunications that drive business: traffic growth, development of new services, and advances in technology. It then discusses three categories of technology drivers: connectivity, the 'anywhere/anytime' aspect, and speed.

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2022/2023

Available from 03/29/2023

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INF 325
Business and Technology Drivers
INF 325 Telecommunications and Networking Concepts
Introduction
Technology has grown by leaps and bounds over the last several years. What once was
done through a very manual process is now done quickly and more efficiently through
developed technology. For businesses, that means to be competitive in a growing environment,
the best technologies need to be implemented so that the end-user receives the best customer
service they can. Understanding how technology drives business and how business drives
technology is the first step to ensuring that the consumers expect the outputs.
Business Drivers
Business drivers vary by business needs. They can come in many forms. To understand
what drives a business, a definition of what business drivers are is needed. “Business drivers
are the key inputs and activities that drive the operational and financial results. Common
examples
of business drivers are salespeople, number of stores, website traffic, number and price of
products sold, units of production, etc. To make internal choices about business strategy or
build a financial model to value a company, it’s critical to gain a solid understanding of the
main drivers of a business” (CFI, n.d). In other words, business drivers are the key metrics that
make a business successful. If the clientele is growing, a business driver could open another
location or add more employees. There are three significant drivers regarding networking and
telecommunications that drive business: traffic growth, development of new services, and
advances in technology.
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INF 325

Business and Technology Drivers INF 325 Telecommunications and Networking Concepts Introduction Technology has grown by leaps and bounds over the last several years. What once was done through a very manual process is now done quickly and more efficiently through developed technology. For businesses, that means to be competitive in a growing environment, the best technologies need to be implemented so that the end-user receives the best customer service they can. Understanding how technology drives business and how business drives technology is the first step to ensuring that the consumers expect the outputs. Business Drivers Business drivers vary by business needs. They can come in many forms. To understand what drives a business, a definition of what business drivers are is needed. “Business drivers are the key inputs and activities that drive the operational and financial results. Common examples of business drivers are salespeople, number of stores, website traffic, number and price of products sold, units of production, etc. To make internal choices about business strategy or build a financial model to value a company, it’s critical to gain a solid understanding of the main drivers of a business” (CFI, n.d). In other words, business drivers are the key metrics that make a business successful. If the clientele is growing, a business driver could open another location or add more employees. There are three significant drivers regarding networking and telecommunications that drive business: traffic growth, development of new services, and advances in technology.

Three Major Drivers Traffic growth pertains to both local and long-distance communications. Things like web services, online transactions, remote access, and social networking have driven the need to increase communication capabilities. The development of new services is another driver worth exploring. As services such as web applications and smartphone applications grow, businesses need to adapt and implement these services to ensure they stay current and relevant. As services are implemented within the industry, this also increases traffic growth. "Growth in services and growth in traffic capacity go hand in hand” (Stalling & Case, 2013). The last driver to mention its advances in technology. As technology advances, businesses need to keep up with the technology to give the end-user the experience they desire. Again when technology advances, so does the development of new services and traffic growth. Technology Drivers Like the business drivers, three categories fall into the technology drivers. These categories are connectivity, the "anywhere/anytime" aspect, and speed. All three of the technology drivers promote a quick user experience. Connectivity is the ability of businesses to connect to other companies internally and their end-users and customers. Things like having a network available that promotes real-time collaboration and tools that can provide instant analysis and drive businesses forward. The following connectivity is the need for the "anywhere/anytime aspect. This is specific to when and where information is available. In today's busy life, more and more consumers need access to companies from wherever they may be. No longer is going to the bank to deposit a check a need. Now you can use your smartphone

Conclusio n There are so many options when doing business today. What sets one company apart from another is the speed and functionality that they offer. Networking and telecommunications drive businesses forward if implemented correctly. The current state of technology directly impacts business drivers. If a company has a solid platform to build its technology, it will enhance its competitiveness and build clientele. By understanding how technology drives business and how business drives technology, we have uncovered the first step to ensuring that the consumers expect the outputs. References Corporate Financial Institute, (n.d), What are Business Drivers, https://corporatefinanceinstitute.com/resources/knowledge/modeling/business-drivers/ Stallings, W., & Case, T. (2013). Business data communications: infrastructure, networking and security (7th ed.) [Electronic version]. ITAF (August 13, 2019), The importance of network a communication network, https://www.itaf.eu/en/the-importance-of-communication-network/