Business And Technology: What Lies Ahead

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Running Time: 9:11

Date: 01/01/2012

New technology is transforming business, bringing with it massive new competitive pressures - if we don't adapt, we're in danger of falling by the wayside

Mobile phones that allow barcode scanning of products is just one example of the way new technology is changing the face of business, forcing ever greater competitive pressures on businesses as products and services become increasinglycharacterised by price and efficiency of supply. So says Tim Molloy of MYOB, but he says while adoption of new technology might be a challenge, there are also many opportunities for canny operators who understand how to make the technology work in their favour. Tim Molloy advises bricks and mortar retailers, for example, to enhance the shopping experience. And businesses in the future, he says, will become more specialised, while marketing those businesses too will change as information is increasingly shared by consumers on the internet. Then, he says, there are changes to the pattern of work as technology impacts the 9-to-5 schedule that's been so much a part of office routine. Tim Molloy looks to see what lies ahead for us all as technology changes the world of work.