Introduction IT or Information technology is a term that encompasses all forms of technology used to create, store, exchange, and use information in its various forms of business data, voice conversations, still images, motion pictures, multimedia presentations, and other forms, including those not yet conceived. It’s a convenient term for including both telephony and computer technology in the same word. It is the technology that Is driving what has often been called “the Information revolution. ” The term Is commonly used as a synonym for computers and computer networks. T It also encompasses other information distribution technologies such as television and telephones Humans have been storing, retrieving, manipulating and communicating information since the Sumerians in Mesopotamia developed writing in about 3000 BC,but the term information technology in its modern sense first appeared in a 1958 article published in the Harvard Business Review; authors Harold J. Alleviate and Thomas L. Whistle commented that “the new technology does not yet have a single established name.
We shall call It Information technology (IT). ” Their definition insists of three categories: techniques for processing, the application of statistical and mathematical methods to decision-making and the simulation of higher-order thinking through computer programs. Four distinct phases of IT development: pre-mechanical (3000 BC – 1450 AD) Mechanical (1450-1840) Electromechanical (1840-1940) Electronic (1940-present) The recent advances of Information Technology are becoming central to the process of social-economic development.
Information Technology offers new way of exchanging information, and transacting business, changes the nature of the uncial and other service sectors provides efficient means of using the human and Institutional capabilities of countries In both the public and private sectors. The world is rapidly moving towards knowledge based economic structures and information societies, which comprise of networks of individuals, firms and countries that are linked electronically and in interdependent relationship.
In an increasingly globalize economy, information technology is one of the key determinants of competitiveness of growth of firm and countries. Affects of Technology….. Technology affects almost every aspect of our lives. Just look around you and you’ll e how wired we are. Thanks to the Internet, virtually anything you desire can be delivered to your door In a matter of days.
Personal Information is more accessible lose sleep waiting for their teenage daughter to come home they can Just call her cell phone, or send an unobtrusive text, to check up but as much as our personal lives have changed, the business world has revolutionized almost beyond recognition in the past few decades. Technology and I mean the advances in communication and information technology has changed the face and the pace of business. As communication and information travels faster and faster, the world seems smaller ND smaller, and this has large implications for the way we conduct business.
Storing important in files on a computer rather than in drawers, for instance, has made information easily accessible. Using e-mail allows businesses to communicate and send these files quickly to remote locations outside of an office. Many argue technology has blurred the line between professional and private lives. Wireless Internet, cell phones and BlackBerries have made it easy to work from home or for that matter, from the beach. The fact that it’s easy to work from the beach compels people to do so. On the flip side, people also feel compelled to use Internet access at work for personal reasons.
In this way, technology allows workaholics to work and slackers to slack. How has technology changed the way we conduct business? Businesses have been at the forefront of technology for ages. Whatever can speed production will draw in more business. As computers emerged in the 20th century, they promised a new age of information technology. But in order to reap the benefits, businesses needed to adapt and change their infrastructure. For example, American Airlines started using a computerized flight booking system, and Bank of America kook on an automated check-processing system.
Obviously, now, most business is conducted over personal computers or communication devices. Computers offer companies a way to organize dense databases, personal schedules and various other forms of essential information. As information travels faster and faster and more reliably, barriers of distance disappear, and businesses are realizing how easy it is to outsource Jobs overseas. Outsourcing refers to the practice of hiring employees who work outside the company or remotely and even halfway across the world.
Companies can outsource duties such as computer programming and telephone customer service. They can even outsource fast-food restaurant service don’t be surprised if you’re putting in your hamburger order with a fast-food employee working in a different country entirely. Outsourcing is a controversial practice, and many believe that U. S. Companies who take part are hurting the Job market in their route, saving companies between 30 and 70 percent Another technology that’s starting to revolutionize business is actually not very new it’s Just cheaper these days.
Radio frequency identification (RIFF) technology is infiltrating and changing business significantly in a few ways. Microchips that store information (such as a number equivalent of a barded and even an up-to-date history of the chip’s travels) can be attached to product, and this helps companies keep track of their inventory. Some businesses have even begun to use RIFF chip implants in humans to tighten security. An access control reader detects the chip’s signal and permits the employee access to the door.
But many people are concerned about privacy issues if this were to become widespread practice. Handheld devices like BlackBerries have become wildly popular for businesses because they let users check and send email from anywhere, and browse the Internet. Safe Large Investment and Risk For Example, the Internet enables airlines to provide online flight booking, banks to offer online account management and bill pay and allows any company to sell any product online. In general, the Internet has proven to be an inexpensive way to reach more customers.
Nowadays, if you can’t find a business online, or if it has an outdated, ugly Web site, it looks downright unprofessional. Many businesses have succeeded in using the Internet as their primary, or sometimes only, medium. Small businesses, too, have become easier to start up using the Internet. If you’re a stay-at- mom mom who makes a killer batch of cookies, you can easily sell them over the Internet and ship them to your customers. But, it’s not always as simple as it sounds. Any business conducted online must consider security, privacy or even copyright issues.
Copyright issues would include making sure your business doesn’t use someone else’s original work (such as a logo, for instance) or even making sure no one else is profiting from your business’s creative work. One of the biggest ways the Internet has changed business is through targeted advertising. Using Google, companies can specify the keywords that will drive certain customers to their ad. For instance, if you were to plug the word “baking” into Google, you might click on a page from epicures. Com.
That epicures page will have Google ads from sponsors who sell baking-related products. A company that sells rolling pins can pay to have its ads show up for people who search for specific words, like “baking,” “pies” or “dough. ” It makes good business sense people who search for “baking” on Google will be much more likely to click on a rolling pin ad than the average person. Yes, it is possible for the individual entrepreneur, SEEM and even large transnational reparations to operate in a global market without large investment or risk.
It is a global collection of networks, both big and small. These networks connect together in many different ways to form the single entity. Historically, IT automated, integrated and re-engineered operational processes. That reduced costs, increased scale and transformed operational practices. Today, most companies feel’ digital as they have automated processes, computers, information and data warehouses. A study of more than 2,200 companies indicated that digital technology supports an average 58% of heir business processes. What are the benefits of technology for a business?
There are many, but most fall under a few categories: Reach more potential customers, develop a business relationship with potential customers Streamline operations, reduce costs, improve efficiency, maximize profit, minimize waste, devote talent to core business instead of overhead Provide better service to customers Support better relationships with key partners Allow customers to better guide the business Established businesses outside the technology industry typically spend between h recent and 10 percent of their annual revenue on technology spending, depending mostly on the industry.