How investments in technology can spur growth after the recession
Some experts are urging businesses to invest in technology despite a lingering recession.
Now, they say, is the time to implement processes and systems that enhance efficiency and productivity. Businesses may be better poised to take advantage of economic recovery activity when it begins.
Earlier this month at a speaking engagement in Canada, Jeffrey Immelt, chairman and chief executive of General Electric said, "If you keep investing in technology and innovation in the worst of times, your competitive advantage grows."
One company following Immelt's advice is Halifax-based retailer the Trail Shop.
According to the Financial Post, Trail Shop owner Joachim Stroink says a more efficient inventory system and other cost savings are in part due to his investment in technology.
Leaders of technology giants IBM and Intel also urge investments in technology during the recession, says an article in the Chronicle Herald.
The companies are practicing what they preach. According to the Chronicle Herald, Intel made public intentions to spend $9 billion to upgrade computer chips in anticipation of future projects.
------------------
Copyright NEBS Canada Business Products.
Small business owners have trusted NEBS for all of their business needs for over 30 years, including products and services to help manage a small business more effectively.
