That was the question that got me thinking today. I work on technology and business closely but when it comes down to answering this question I'm in a spiral loop myself.
May be for a lay person it is not the "Eureka" moment even if I manage to zero down on this but it certainly is a question that shall alleviate some geek souls.
So here's what I figured after a little brain churning and putting in all the experiences summarily in words.
I am a Facebook addict like many others. It is literally the "social cigarette" for our generation. But what makes me tag it as a "tech firm" instead of a social mingling community or a chat room? What's so special about a Groupon or Skype or Amazon.com from other technology providing businesses?
The answer folks is simple: Semantics! Technology has become an easy byword for anything that shows up online!
While labelling all these popular companies as "tech" by omission, shouldn't we wonder what is the common thread binding them all that we label them conveniently as tech firms?
Every 9 out of 10 companies globally has migrated to a mobile platform to conduct their business operations in the 21st century. Businesses are aligned to data synthesis, software and digital frameworks so seamlessly that thinking of any other useful term but a "tech" label seems difficult. Moreover, believe it or not the main operators in this super-structure of business are software engineers.
So what we basically have today are compound businesses and not pure technology firms. Not every one out there is "CREATING" technology but merely "USING" it in the smartest way possible.Yet labels remains.
The reason is simple. Technology should transform the existing lifestyle wholesomely, not just being a medium of information. And is what precisely technology does for businesses. It acts as a catalyst to help produce, advertise and market a commodity via online portals. In all the cases, the technology in question is a borrowed weapon in the armor.
Amazon.com is one of the most successful eCommerce websites. Groupon is a favorite for those looking to grab great deals online. Both of them are categorized as "tech" companies. While the base of their operations does include a system of data analysis and countless technicalities, at the end of the day they are doing nothing out of the blue than a run-of-the-mill mail-order catalogues!
The bottonline is that tagging a business as a tech company is a but a "gift wrapping" sell out idea. The moniker potentially adds weight to drawing customers and investors into a business without necessarily demarcating the "type" of products that they might be selling. Its a great equalizer term indeed.
To wrap up this passing thought that has so evolved, I quote a fellow writer's words: "Innovating through technology in a pre-existing market does not make a business a tech company; it makes it smart...The era of tech companies is over. To stay competitive in today’s marketplaces, every company, by the current standard, could be called a tech company, which of course, is another way of saying that none of them should be."
Having said that, the question still remains "to be or not to be"...
As a people of this online niche, do you prefer labels with actual meaning or just a equalizing moniker to stay afloat in the competitive market? What do you want to be called ? Leave a reply for us in the comments section below.
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