3rd POSTING: IMPACT OF USING ICT FOR BUSINESS

The impact of using ICT for business.

Information and communication technology is becoming an important asset in the business world. Almost every part of department in a well establishes company requires the usage of “ICT” to maintain certain task. Human and technology development has created a new revolution in the business world. With the capability to process information and communicate with every part of the word, “ICT” has created no boundaries in today’s business environment. Thus, the impact of “ICT” has shown its potential in generating profits for the business industries.

The first impact of using ICT for business is that, ICT enables humans to conduct many of the important process in the company. As for example, from management to services, “ICT” has taken the role in distributing information by enabling humans to send data and business statistics through the power of communication. This positive impact of ICT could be seen in the business environment and many professionals agree that ICT do contribute in the profit making process.

With the ability to provide network access in every part of the continent, marketing and promotion activities has become easier for every company to promote and distribute their products. This somewhat has generated a big impact in the way that company conduct their sales. Hence, the impact of ICT again could be seen in the positive part regarding business. ICT actually help in a sense that, business could be conducted in an environment where as humans could be assist by technology to achieve perfection.

The impact of ICT doesn’t stop there. From finance, insurance, online company database to customer care, ICT enable every business tycoons too actually take control of every situation concerning the profits to their company. As for example, executive manager could conduct an online meeting with the company board member without needing them to be at the same place. Therefore, this will allow business process and agreement to be done at any time and any place.ICT has helps in organizing business task in a company. Technology does assist human to achieve excellences relating to humans needs. Many companies have created a department to maintain the technologies. Thus, this shows that ICT are important in the business field. With globalization influence, the usage of ICT has become an important tool for firms; industries and conglomerate outsmart their competitors.

However, humans should not depend 100% on ICT. ICT must not be seen as a luxury for humans to forget about their duties. ICT alone cannot maintain business profits if humans does not work together with the technology to achieve perfection. ICT is only an element to support humans to improve productivity.

As a conclusion, the impact of ICT could be seen in positive aspects. ICT offers the ability to gain information and at the same time communicate without boundaries. Business fields have received a massive impact since the introduction of the technology. Today, every business sectors will look forward towards the rising technology which can improve the ability of a company.



Reference:

OECD
The Economic Impact of ICT: Measurement, Evidence and Implications
How precisely does ICT affect economic growth and the efficiency of firms? How well can these impacts are measured? And under which conditions do the impacts of ICT emerge?
[www.oecd.org]

EMERALD
Title: Impact of information and communications technology on real estate space: Perspective of office occupiers Author(s): Tien Foo Sing Journal: Journal of Property Investment & Finance ISSN: 1463-578X Year: 2005 Volume: 23 Issue: 6 Page: 494 - 505 DOI: 10.1108/14635780510626538 Publisher: Emerald Group Publishing Limited

LEXIS NEXIS
New Straits Times (Malaysia)
November 26, 2007 MondayAreas of ICT spendingBYLINE: Foo Eu JinSECTION: NOTEBOOK; LOCAL; Pg. 2

LEXIS NEXIS

New Straits Times (Malaysia)August 13, 2007 MondayGetting small businesses to embrace ICT innovationBYLINE: Foo Eu JinSECTION: OUTLOOK; LOCAL; Pg. 10

SCOPUS
The effect of hard and soft information and communication technologies investment on manufacturing business performance in Greece - A preliminary econometric study