Saturday, July 28, 2012

Applied Strategy- Academic- Heavy Technology Use by Advisors Shows Positive Results


Applied Strategy- Academic- Heavy Technology Use by Advisors Shows Positive Results

 

Article by: Rebecca King

Abstract by: Russell Medley

 

Rebecca king is report on some results conducted by FPA in late 2011.  These surveys were based on the idea of asking business owners, employees and employers questions about their satisfaction level while at work and their use of technology.  The surveys were implemented to try and discover a connection between the two.  The results show that the higher the use of perceive integration (being the use of technology in your business) the higher percentage of those that would agree to being “on track” to their business/career goals.

The findings suggest that technology has appositive influence on the level of efficiency present in a business (see table 2 in the article).  It is evident in almost all of the surveys that a certain level of satisfaction is felt when a business has a strong grasp on the use of technology in their everyday operations.  The reason this works is because once the technology is in place and running effectively, you as a business person are given more time to do the things that make your business grow like prospecting for more clients or honing your skills instead of sitting at home waiting for your fax machine to finish printing the invoice.  Some tasks can even be done automatically for you such as monthly bank account checks and automatic payments.  This can be a huge time saver for the average do it-your-self business professional.

Lastly in the article it is said that technology should be put in place to “improve your professional and personal life, if it doesn’t, a re-evaluation of your current technology and how you’re using it is in order.”  This basically means that just because you have a ton of gadgets at your office, if they aren’t working FOR you, then they are working against you.  Having a fax machine, scanner, printer, 3 cell phones, 4 computers, 2 price scanners, a photo booth, and GPS equipment are all great…but not if you are the one who has to operate all of them.

Source:
Journal of Financial Planning; Mar2012, Vol. 25 Issue 3, p28-29, 2p, 3 Charts

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