Introduction
Regardless of the sphere of entrepreneurial activities, investing in high-quality hardware products and equipment is essential for the business’s successful start and subsequent development. The majority of hardware types make business operations run smoothly with little or no glitches. The administrative functions and business management are streamlined by the hardware and help the business remain organized. Knowing the exact required hardware and tools helps an entrepreneur save money and maximize the budget (Nguyen et al., 2018). Hardware helps the business save time, enhance productivity, and potentially increase profits and revenue. The understanding of basic daily routines will help any businessman choose the most appropriate hardware for his or her effective performance.
In the present day, a desktop computer may be regarded as the most common hardware for almost all businesses due to its wide range of use. The investment in a high-quality computer helps to avoid multiple difficulties and inconveniences connected with manual tasks, such as accounting and record-keeping (Lee et al., 2019). Moreover, a laptop may be acquired if portability is a preferred option. A sustainable computer may be used for three to five years with insignificant maintenance costs involved. In addition, wireless routers frequently complement computers through remote connections. The routers connect the processors involved in the business process with the Internet. Inbuilt firewalls that accompany routers limit access from unknown computers as well and guarantee safety to work computers. In general, a high-quality computer and router cost approximately $1,700.
Moore’s Law
The law put forward by Moore states that the number of transistors on microchips would double after every two years. The computer capability and speed would also increase, however, users would spend less on them. Moore’s law has driven social and technological change, competition, and economic growth in the 20th and 21st centuries. The effect of technological progress on the law creates a much more massive boost in most economies (Greenstein, 2017). In developed countries, the information technology sector has contributed mainly to economic growth.
Competition in Business
In general, competition appears when two or more parties strive to attain a common goal. Unless an opponent enters the market with a completely new and highly original product, rivalry exists for most products and services. In the real world, perfect competition rarely occurs, even though it generally exists almost in all organizational structures. In a competitive environment, the success of one brand means a loss to another competing brand (Tallman et al., 2018). To make a successful product in a market full of competitors, a business owner should find a competitive advantage of his or her product over all other similar products and use it to the maximum. Its design may be simple but professionally elaborated to be relevant and attractive to the intended demographic customer.
To make a product distinguishable, thorough research of the particular market and general situation should be conducted to identify the gaps that exist within the market. The appropriate study will provide the necessary information concerning lacking products or services and relevant solutions to address their introduction. Keeping up with the changing market trends makes a product remain relevant for a long period (Morgan, 2011). In addition, regular search for knowledge may improve creativity, enhance brain power, and boost understanding. These aspects are essential to ensure the success of a product in the business world.
Conclusion
In general, hardware in a business may be regarded as an efficient way of making the work more comfortable and productive. Technological advancements have created numerous hardware for businesses, and choosing the right hardware may be considerably challenging. Nevertheless, the understanding of all business operations will help an entrepreneur determine the most appropriate hardware. In addition, competition in business is almost inevitable as most products strive to increase their sales. Consequently, the understanding of the market trends and changes is vital to keep a product relevant to the target market as well.
References
Greenstein, S. (2017). Moore’s law and economic architectures. IEEE Micro, 37(4), 82-84.
Lee, J., Suh, T., Roy, D., & Baucus, M. (2019). Emerging technology and business model innovation: the case of artificial intelligence. Journal of Open Innovation: Technology, Market, and Complexity, 5(3), 44.
Morgan, J. M. (2011). Brand against the machine: How to build your brand, cut through the marketing noise, and stand out from the competition. John Wiley & Sons.
Nguyen-Duc, A., Weng, X., & Abrahamsson, P. (2018). A preliminary study of agility in business and production: Cases of early-stage hardware startups. In Proceedings of the 12th ACM/IEEE International symposium on Empirical Software Engineering and Measurement (pp. 1-4). Web.
Tallman, S., Luo, Y., & Buckley, P. J. (2018). Business models in global competition. Global Strategy Journal, 8(4), 517-535. Web.