The role of IT on modern business practice?

Answer 1

Impact of Information Technology on Business Everyone is aware of the fact that information technology certainly has had a significant effect on all business sectors. Let's discuss more about the impact of information technology on business. Information technology is a wide field, and has enabled organizations across the world to work in an efficient manner. It plays a very important role in effective management and running of a business. The use of information technology in organizations is inevitable, be it any type of company like manufacturing or medicinal sector. It has contributed largely to the process advancements in organizations. The exact impact of information technology on business administration can be determined by the elements mentioned below.

Basic Elements of Information Technology

Software and Applications

Software is an important part of information technology which relates to computer applications that enable a company to generate, store, program, and retrieve data as and when needed. There are many softwares developed for different purposes. All operations in the business sector are carried out by software that are assigned for executing specific tasks. Without these computer applications the businesses wouldn't have been able to carry out their functions in a proper and efficient manner. Operating systems, ERPs, special purpose applications, and Web Browsers are some examples of different softwares.

There are some softwares which are exclusively built to contribute to the proper collaborative working of all sections of the businesses, which are known as Enterprise Resource Planning (ERP). These are complex applications which enable people to efficiently manage all functions and operations of all processes in the businesses.

Hardware Devices

These are various computer equipments that house the softwares. Devices like microcomputers, mid-size servers, and huge mainframe systems are some examples of hardware. Businesses have to maintain a huge collection of important data. For this purpose, they employ these devices which are responsible for storing confidential company data and retrieving it back when required. Other hardware devices include network devices that are used for providing internet access to the businesses to work and communicate expeditiously. There are even devices which enable manufacturing tools and equipments to work accurately in the industrial sector.

Running Businesses with Information Technology

Small scale businesses need to buy software packages that would cater to their specific management, operational, and functional needs. For this purpose, they need to approach firms and IT manufacturers who deal in such software applications. Other IT services include Internet marketing and email marketing, Web Hosting and promotions, and maintaining client networks. Larger businesses on the other hand have their own operational and functional employees who develop software applications and work on several IT needs of the businesses. They usually purchase ERP softwares to coordinate different processes and functions into a single application, which is actually more convenient.

Manufacturing businesses may make use of servers and databases to store their vast data regarding inventory, B2B, B2C, FMCG (in the retail business sector), etc. Automobile manufacturers use computers to guide manufacturing and designing tools to function in a precise manner, ruling out the possibilities of any human error. Businesses all around the globe have to take the aid of information technology in some way or the other to keep themselves in sync with the market and the world. There are several departments in business organizations such as HR and recruitment, finance and payroll, administration, and security. All these departments utilize IT to carry out their respective operations in a productive manner and efficient manner.

The information technology role in business sector certainly is of a great importance, which enables businesses to effectively and successfully plan, manage, execute strategies which lead to profit. Moreover, the impact of information technology on business is on the rise, as several advancements are focused on to be implemented in various business processes.

Answer 2

The role of IT in modern business practice is to improve the efficiency of data processing. This avails quality information faster for business owners to make more educated and more timely business decisions.

Answer 3

Impact of IT on modern society

Information technology has impacted various sectors of modern life and existence:

With regards to education, IT has provided the vehicle to network and present "One University" via campus networks. Several universities now deliver programmes using the Internet as the communication vehicle for distance learning programmes popularly called e-learning. Further, the Internet has contributed greatly to excellence in teaching, research and service. The same technology has been used to enhance, expand and expedite the services utilized by students and teachers generally.

In banking, security and identity management for efficient and accurate to client accounts access as well as billing services have been greatly enhanced through the application of this technology.

Information services have received a great boost where backend systems and databases have been interlinked to provide distributed database services and Internet working which is the foundation for the Internet which is a global network of networks.