The Sunday Mail
Entrepreneurship Matters
Dr Kudzanai Vere
Although the Covid-19 pandemic brought with it suffering, it awakened many to some technology they did not, even in their wildest imagination, think they can use.
Many businesses were introduced to some current technology aimed at improving organisational effectiveness, especially during such a disturbing period.
We saw some elderly men and women, who were earlier resistant to change, pushing themselves to learn one or two things about ZOOM, Microsoft Teams, Skype and even WhatsApp for some conferencing and business meetings.
Every challenge that comes in life has two sides, the bad and the good. As usual, entrepreneurs must be in a position to see business opportunities in such challenges.
In my recent public lecture at the Harare Institute of Technology, I shared ideas on how quick we are in reverting to our old ways of doing things.
The pandemic made us realise the beauty of working remotely and the benefits that come with this concept.
There are some jobs that are even better done remotely than having people gather at some establishment called the workplace, which attracts significant amounts of overheads.
Since we are used to gossiping about others and spend some 30 to 40 minutes discussing the last matches played by our favourite teams, we find it necessary to go back to those establishments.
The point here is, let us embrace technology and advance within it — never looking back.
Technology has overly enhanced the way business is done and there is need to continuously improve it as the challenges people face are also changing by the day.
What is technology?
Let me start by giving a bit of some background to the word. The word technology comes from two Greek words translated techne and logos. Techne means art, skill, craft, or the way, manner, or means by which a thing is gained.
Logos means word, the utterances by which inward thought is expressed, a saying or an expression. So looking at its origin technology means words or discourse about the way things are gained. The word has now gained various meanings depending on usage. Some define it as the application of scientific knowledge especially in a particular area to accomplish certain objectives.
More practically, technology refers to methods, systems, and devices which are the result of scientific knowledge being used for practical purposes. It varies from centuries old technology to advanced technology as the space continuously improve in line with challenges people facing.
We used to walk miles and miles on foot, but transport technology was invented up to the fastest jests after the ordinary aeroplane by Orville and Wilbur Wright, popularly known as the Wright Brothers.
Postal letters were replaced by WhatsApp, emails and short messages, while manual receipts and invoices were taken over by POS systems though we have a greater majority of Small and Medium Enterprises who are still hanging on the ineffective old.
Why technology?
Technology affects almost every aspect of 21st century life, from transport efficiency and safety to access to food and healthcare, socialisation and productivity.
The advent and the power of the internet has enabled global communities to interact and share ideas, resources and philosophies more easily. However, the overuse of some technology has been linked to a decline in mental health, increased social division and privacy concerns.
Technology has brought ease of doing business and we can’t re-imagine a world without the current tech. A great deal of menial work which required a hundred people is now done efficiently by a single machine. More is produced in less time.
Improved productivity
Technology has played a key role in driving productivity for businesses in a way that would have been unthinkable just a few decades ago. Advancements in manufacturing and assembly line technology mean that goods can be produced at an incredible rate.
Machines and robots have been able to cut down the cost of production and drive up output. Whether it’s canned foods or clothing or furniture, companies with economies of scale can produce large quantities of their products in a way that can meet market demand.
A great number of customers can now be served quickly and more efficiently through the implementation of technology. This has also led to improved customer satisfaction and improved business on the part of the business venture and economic growth at national and international level.
Better and easier communication
The greatest advancement in the technology world over was the internet. Most of these other communication technologies are riding on the internet. This has fully changed the lives of many and made business easier by its worldwide nature of connectivity.
Thanks to the mobile technology, someone doing business in Zimbabwe can communicate with another person in America in a matter of seconds and get a deal sealed.
Social media applications such as Facebook, Twitter, Instagram, Tiktok have also necessitated extensive marketing of products and services in seconds or just by a click of a button reaching out to your target market. People now easily know who is doing what and where.
Physical conferences are quickly being replaced by virtual ones. Many thanks to ZOOM, Google teams and Skype for the innovation and inventions
Efficiency in execution of tasks and processes
Both blue collar jobs and white collar jobs have become more efficient due to advancements in technology.
For blue-collar jobs, automation has streamlined many processes that traditionally require greater human input, reducing error and saving time.
For white-collar jobs, the avalanche of new productivity apps and software means workers can get more done in a shorter amount of time, cutting down bureaucracy and other barriers to effective communication.
Technology has functioned as an aid to human efficiency, much like an artificial arm; it has enabled tasks to be completed in a shorter amount of time with greater results.
Manufacturing simplified
In the past, the manufacturing industry involved individuals having to labour to produce each item, one at a time. It would take time to get a motor vehicle completed. But these days due to automation and the use of robots, a number are produced within no time.
In the clothing industry, every piece of clothing had to be hand sewn, meaning that someone would need to spend hours (or days) producing a piece of clothing before it could be sold on the market. This meant the cost of manufacturing per item was much higher because it required personal labour.
Technology has changed all that. Now, a piece of clothing can be produced within minutes by an automated production line. As a result, the cost per item has been driven down significantly.
The other side of technology
Advancements in technology have been overwhelmingly bad for the environment; technology has contributed to environmental deterioration far more quickly than it has contributed to solving environmental problems.
There is also a wide outcry of machines replacing people and thus creating some form of unemployment for others.
In instances where there are no proper plans in place, malfunctioning of this technology can cause a severe outcry and shortages. This is indeed possible where the business or users of such technology were not prepared for such eventuality
Conclusion
Technology has overly enhanced the way business is done and there is every need to continuously improve as the challenges people face are also changing by the day.
The writer, Dr Kudzanai Vere is the founder and CEO of Kudfort Zimbabwe, a fast-growing accounting and business advisory firm. You can contact Dr. Vere on +263 719 592232 or [email protected]
