MANAGERIAL ECONOMICS ASSIGNMENT

Submitted To: Submitted by:

Prof. P.K. Chaubey Karan Arora
281026-FMG28
 How is Technology Acquired by a Firm?

How to Use Technology Trends to Improve Your Business

These are just some of the way’s technology can improve your business:

 Better Online Visibility: Every company should have a website, but it's just as nice as the
individuals who discover it. Digital marketing technology can improve the internet presence of
the company and assist clients find the company.
 Simpler Bookkeeping: Nobody likes to keep books or pay taxes. Current technology can assist
you keep track of all the papers, invoices, deductions and expenses you need to create it a little
less expensive.
 The “It” Factor: Consumers are more technologically savvy than ever, and they notice when
businesses have outdated websites, payment processing systems, and other technologies. They
always want the newest and best tech (check out the line at the Apple store whenever a new
iPhone comes out), so keeping up with tech trends shows your customers that you understand
what they want.
 Faster payroll: Payroll applications can speed up paychecks, create immediate deposits, and
even file taxes electronically. Once a devoted bookkeeper or payroll company's domain,
computer programs can now manage nearly all payroll requirements with little or no company
input.
 To-Do List Management: There are always a million things to do with a tiny company.
Productivity apps such as the To - do list can help keep track of what needs to be done and
when –they can also be synchronized with company calendars and other programs so that
everything can be updated at once!

How to Actually Keep Up With the Latest Technology Trends

 Mobile Payments: It was first money, then credit cards, and now it's time to begin accepting
mobile payments. Apple Pay, Google Pay, and other mobile payment options literally create
payment and email invoicing as simple as pressing a button.
 Cyber security: Verizon revealed that 63,000 information breaches affected last year's world's
largest businesses, and tiny businesses are equally susceptible. Theft of point-of-sale (electronic
theft of stolen credit card numbers) is a prevalent problem for clients, as is theft of their private
data. Cyber security systems and programs can protect your customers' identities and finances
and build trust. If you deal with particularly sensitive information, it may be worthwhile to hire
an expert to come in and make sure your programs and computers are as secure as possible.
  Smart Devices: It is possible to use a smartphone or tablet for data, direction, deposit collection,
inventory, billing, timekeeping, and more on the go. You can use it to check your messages and
maintain track of the information generated by your company, wherever you are. To handle
your company, you need an intelligent device.
 Cloud Collaborations: “The cloud” gets tossed around a lot these days, but essentially it means
storing data in such a way that you and your team can access it from any device. That means
you can collaborate with your vendors, employees, and other parties without having to send
around a CD or a flash drive or some other physical storage device. Information stored in the
Cloud updates immediately, meaning that everyone involved has access to the most up-to-date
information. Do you have an email account? That's a type of Cloud storage–you can access your
emails from any computer. To share inner files, collaborate on projects, and more, you can use
Google Drive and other kinds of cloud storage. To maintain track of the stuff you're working on
all in one location, programs like Asana and Basecamp are a wonderful way.
 Social Media Apps: Social media applications and platforms are user-free, so you can discover,
communicate and market resources to clients at your fingertips. Here's an introduction on how
to use social media for your small business. Most social media platforms are intuitive and user-
friendly, so they're an easy way for you to reach out to your customers.

Sometimes, one step at a moment is the best way to manage adapting to the recent developments in
technology. This is the first important step. There's one thing that a firm absolutely can't be without as
far as technology is concerned: a responsive website. Most adults in the US (up to 64 percent) own
some sort of "intelligent" phone, making it non-negotiable to be able to reach clients on the go.

How Does OYO do it?

Oyo follows mainly an in-house approach for software growth to run the key business— enabling
smooth running of hotels through the Oyo network. For other activities and inner tasks, for example,
human resources and financial reporting, the company utilizes "off - the-shelf" goods from tech
suppliers such as Oracle Corp. and SAP SE. Since the hotel chain works "at the junction of actual
property, hospitality and technology, tech is essential to everything we do in Oyo.

For example, Oyo's property management solution (PMS) provides the hotel chain control over all
property activities, including check-in, check-out, guest problems, and guest-order services such as food
and drinks. In addition, Oyo also has "a number of consumer apps, including the fastest mobile
consumer app that allows customers to book a stay in less than five seconds in three easy steps."

Oyo has an auditing tool called Krypton to verify the performance of hotels in its network, enabling it to
handle the guest experience by guiding auditors to conduct targeted and random audits. An Oyo auditor
visits the estate to audit a property through Krypton and captures responses to particular property-
related issues.
Orbis is another app that its company growth executives are using. It guides them on the network's
demand patterns and helps them identify target characteristics in various fields. It thus enables them to
negotiate with and onboard those properties.

The business has a distinct corporate travel request that is used by its subsidiaries of travel agents. In
addition, Oyo has allowed nearly anyone to become a travel agent through an app called Mitr, including
college learners and office employees seeking additional income.

To manage the complexity arising from a diverse set of hotel owners and operations spanning 230 cities
across India, Malaysia and Nepal, Oyo has opted for a cloud computing model to host its applications—
thereby saving on capital and allowing it to be more agile technically. Oyo is 100% on cloud and all our
infrastructure is on AWS (Amazon Web Services) across multiple availability zones.