The Impact of Incorporation of Information and Communication Essay

The Impact of Incorporation of Information and Communication Essay The Impact of Incorporation of Information and Communication Technology in Today's Business Environment â€" Essay Example > The paper “ The Impact of Incorporation of Information and Communication Technology in Today’ s Business Environment”   is a meaningful variant of an   essay on information technology. In the past years, technology has changed greatly and this change has brought about positive improvements in the way business is carried out. Incorporation of information and communication technology (IT) has impacted greatly on the business environment. Ways of doing business have changed and made organizations highly efficient. The improved modes of communication have opened new channels for carrying out business beyond geographical borders (Agnes Stanislav, 2010). Technology has made positive impacts on the business environment. This is evident from the effect of technology on businesses, as carrying out business is now more effective and more efficient. It has made business transactions faster, allowed collaboration between businesses that are both near and far, reduced barriers that pre vent breakthrough into new markets and continues to serve as a source of encouragement for business innovation. The greatest impact has been the globalization of business processes and procedures. Organizations can now do business all over the world easily. They can serve clients that are far from them to their satisfaction. All this is due to the impact of technology. DiscussionImpact of information technologyInformation technology has changed the business environment in a major way. While considering the positive impact of IT on business, five core areas are important for consideration. The growth of the internet and the convergence of different technologies, the development of a common economy, the emergence of economies based on information and knowledge, the growth of the digital firm and the change in the business initiatives. The internet has improved communication modes by the convergence of different communication methods and made networking between businesses easier. It has also introduced new business models in the fields of entertainment, communication, and education such as e-commerce. It has facilitated the shifting of business into new models that are more effective and efficient. Economies based on knowledge and useful information have also emerged and are the future creators of wealth because they are the basis for business innova tions and inventions (Pearson Education, 2011). IT has incorporated all business processes together creating a common and very effective communication avenue for businesses between all the involved parties. This has increased the productivity and profitability of organizations and businesses. The growth of the internet is continually enabling businesses to conduct trade across borders as efficiently as conducting trade within the business itself. It has also changed the management structure of many businesses. In the traditional business model, the manager relied on formal and rigid plans to run the business. Due to the incorporation of IT into businesses, the manager of the modern business model relies on informal plans and widely established networks to run the business. The manager makes use of the readily available knowledge and insightful information of the employees to ensure the smooth running of the business. The globalization of conducting business is also a result of tec hnology. This has enabled companies to perform certain business activities and processes in other locations in the world where they are done at a lower cost. Thus it is easier to communicate with suppliers and customers, coordinate employees in different geographical regions and respond to business requirements that are either local or international (Jackson, 2009).