The Impact of Technology on Business: A Tale of Two Leaders

As a business leader with over 30 years of experience, I have worked with hundreds of businesses and witnessed the impact of technology on organizations. Technology can do great things for organizations, but it can also become a hindrance. The primary difference lies in the approach of the owners and leaders towards technology.

On one hand, there are leaders who invest in quality and robust technology. They view technology as an investment in their business and are willing to spend on it. These organizations see the results and ask for more. They understand that, like so many other areas in life, we get what we pay for.

On the other hand, there are leaders who view technology as a cost that they are always looking to reduce. They opt for low-cost solutions, which are often followed by poor results. Slow and unreliable systems, cyber security incidents, and little to no use of data are some of the common problems faced by these organizations. They are unwilling to engage outside expertise and miss out on the benefits of technology.

I have witnessed first-hand the power of an organization using technology, and it is a wonderful thing. I would challenge any business owner or leader who is frustrated with the technology in their organization to ask themselves if they view the spend on technology as an investment in their business or a cost to their business. The answer could make all the difference.