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Role of ict in modern business
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Introduction
In recent years there has been a big change as revolution in the computer and communication world and all the signs are that technological development and employ of information technology (IT) will continue go on with a fast velocity. Advocating and accompanying the impressive developments in the power and continue employ of latest information technologies has been the communications’ declining cost consequently of both technological enhancements and developed competition. Such great progresses in development present several major and great opportunities but also pose a lot of challenges. Nowadays, increasing in inventions in the field of IT are having extensive effects all over the society, and different strategy makers are working on various issues in which economic output, rights of intellectual property, protection of privacy and approach to information. Option created now will have enduring effects, and concentration must be devoted to their socio-economic impacts.
The most important and very effective outcome of the development of IT is most likely the electronic communication and commerce through the Internet, a latest approach of leading the business. However, in recent times, it may fundamentally change the economic behaviours as well as the social atmosphere. Previously, it impacts those important fields like communications and interactions, retail business and finance and might spread out to sectors mainly like the services of health and education. It involves the seamless process of communication as well as information technology all along the whole business value chain that is managed electronically (Castells, 1996).
Literature Review
The IT has impacted numerous aspects and features o...
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...ted to change in the future times. Finally, the relevancy of a contemporary informational infrastructure to the socio-economic well-being of a society cannot be undervalued. Most favourable options, be they social, cultural or economic must be relied on the finest accessible information. The information’s quality determines the efficiency of any provided choice. In the people sphere, approach to believable information and data is a prerequisite to pluralistic and participative democratic system, development of human, social and economic clearness, and the development of different society. Understanding, knowledge and information infrastructures encourage and support conversation between those holding different thoughts. It is only in an environment in which authentic realities and information are obtainable that people can establish own views and perspectives.
Nowadays, the popularities of the internet do change people’s life and even influence the strategy of a company. The article “Strategy and the Internet” authored by Michael Porter presents a few constructive opinions towards companies using the Internet for business that tells company should not lose the focus on building strategic development and competitive advantage. In the article, Michael Porter demonstrated that “the Internet is an extremely important technology, but it has made it difficult for companies to remain profitable over an extended time period”. (Porter, 2001) And internet leads many businesses “distort their market signals and competitive advantage”. (Porter, 2001) It is obvious that company tend to different from other which only focus on price strategies rather than through traditional methods of differentiation. (Porter, 2001) Throughout this article, Porter mainly aim to demonstrated that the Internet will weaken company’s profitability without providing proper operational advantages, because the proper use of internet will add value and increase company’s traditional competitive advantage, but it is unlikely for company to replace it. (Porter, 2001)
There are a few components that go along with technology. There are a lot of pros to technology, but what else is it good for? Many people think that technology is bad, but at this time of life, the good always outweighs the bad.
The Internet and international business is an interesting topic- discussing an area of business that will probably be around for many years and possibly centuries to come. Since its earliest days, the Internet has been a means of communication, an essential tool in almost instant communication.
Business today is inextricably intertwined with technology, from the smallest home office, to a multinational corporation with multiple monolithic legacy application. It is impossible to be in business today without confronting the issues of technology. The way we do business today is different than 30 years ago. Technology has evolved around the areas of telecommunication, travel, stock market, shipping even around our daily lives. E-commerce a system by which people can buy, sell and deal without even seeing the person on the other side has taken a front seat in improving the economy of countries around the world. Technology today has made it possible for monetary institutions to help locate the customers resources and help solve their problems at any given time through online banking. The Internet, a boon to all business, is playing a part of a catalyst; it links millions of customers to its suppliers and vice versa due to this, manufactures are able to cut the role of middlemen and are able to deal with the customers, giving them the ability for direct input from the customers about their choices and views of their product. The busi...
ICT has revolutionized the world especially in commerce, education and socialization. It has reduced the world into a small global village. This has been facilitated by the greatest innovation in the information and communication technology (ICT): the internet. Since its innovation, there have been many benefits and opportunities that have been realized from different quotas including; education sector, business sector, health sector, communication sector and transport sector among others. Many organizations in these and other sectors have in one way or another adopted the use of the internet so as to enhance their services, processes and products. In addition, the use of ICT has become one of the factors that add to competitive advantage and thus every other organization wants to gain this competitive edge against other organizations: including Kingdom of Saudi Arabia.
Daniel Bell (1973) coined the expression ‘the post-industrial society’. In this society a substantial proportion of the population are employed or involved in the work of information collection and communication. In this sense we can see that information has become a commodity which can have a value and is therefore marketable. It also can be seen as an indispensable component of our social fabric.
There is no doubt that the present time is the Technology era when the use of technological inventions dominates all different aspects of life: computer, cellular phones, world wide web, radio and satellites. That is, technological inventions have improved. Storing information, sending and receiving messages, electronic governments, distance education, health services and business. With the intervention of Information Technology, the means of communication in business which is a very important field in modern societies including banking, shares market, marketing, trading has been intensely changed. This essay will argue that Information Technology has positively changed communication in the business world. Information Technology implications have enhanced the ways businesses communicate in business areas including marketing, stock market, shopping and banking.
The consistent use of information and communication technology (ICT) in modern world enables us for countless opportunities for individuals, institutions, business organisations and scientists, but it also raises difficult ethical and legal problems. In particular, ICT helped to make societies more complex and thus even harder to understand. The use of ICT has led to changes in concepts: ownership, buying and selling, right to possession, theft, justice in the distribution of resources and access rights. During the nineties, the internet has grown into all business segments resulting in a large number of questions running. It has been noted that during those time period there has been merging of computers, telecommunications, and media which is further emphasized by the emergence of new issues and strengthening old ones.
Electronic Commerce as popularly as E-commerce has become a big deal in our growing economy due to the increase use of online systems. E-commerce now of the fastest growing business in the world. The technology has change the way of business. Business that have physical location have now made it an effort to focus their online business. It is the new sort of business platform where you can make use of different technologies like electronic data interchange or transfer document electronically. Online business is an effective of sales.
Computers are everywhere, and they are used for everything, and in every type of business have we become too dependent on computers?
The Impact of Information Technology on Individuals, Society and Organizations Information systems and information technology are important in supporting, maintaining and enriching many aspects of livings. They bring benefits to lives of individuals, operations of business and the functioning of society but there are also drawbacks associated with technology and information system. Both good and bad impacts of information system and technology to individuals, organisations and the society will be discussed in detail in the following paragraphs.
Computer technology not only has solved problems but also has created some, including a certain amount of culture shock as individuals attempt to deal with the new technology. A major role of computer science has been to alleviate such problems, mainly by making computer systems cheaper, faster, more reliable, easier to use.
The Internet has become a key ingredient of strenuous and busy lifestyle. ‘Internet’ has become the central-hub for communication, explorations, connecting with people or for official purposes. Resultantly, Internet growth has led to a plethora of new developments, such as decreased margins for companies as consumers turn more and more to the internet to buy goods and demand the best prices.
The Impact of ICT on Society I will talk about how ICT has effected people from all walks of life, how it has effected jobs and living conditions. = == == ==
Communication is a critical thing in today’s society because the exchange of information is vital in living. People live both locally and globally through technological connections by maintaining contact and interaction between individuals from all corners of the world. Communication binds people, helps maintaining the society healthy and enables people to interact and make friends from different regions and cultures. According to Adrian in 2006, communication and information technology plays a great role in the individuals’ life. There is a high rate of growth of the communication technology industry and the benefits as more people come up with new means of communication by day. A point has reached where activities cannot function without information technology due to the many benefits which come along with the current day technologies. Moreover, the industry plays a great role in improving the nation’s economy by facilitating fast and easier means of doing things and offering employment to many people across the world.