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Role of IT (Information Technology) in Business Growth
World is changing and along with it, flow of information is changing too. Consider as an example - the internet, it provides us with all latest happenings around the globe. Railways and Airways are connected with Information Technology. If we want to travel we can book tickets online, reserve rooms, etc. Sea routes are also connected. IT has become an essential part of our day to day life whether it's field of education, or entertainment, or business; everything is touched by information technology. Doctors can also help patients online, prescribing medicines or helping other doctor in dealing with emergency cases.
Buying and selling has become quite easy now. Online shopping through credit cards and debit cards has made purchasing effortless. Moreover you can do shopping anytime as there is no time constraint; they are open around the clock. Banking is another area which has been automated. The things that were earlier done manually have been computerized. Managing accounts, transferring of cash, depositing, withdrawing is no more a tedious task. Another field where IT has brought immense growth is Business sector.
In this IT driven corporate world it is essential to determine new ways to grow in business. It is important to understand that top management cannot alone manage the business; there vision and IT together can achieve higher objectives. Information technology and business together refers to management resources and using information by computer tools for gathering, processing information, storage of information and distribution of information. Small scale businesses buy software packages in order to run their business whereas large business firms can appoint engineers to build their own software to support company's tasks. This has resulted in new job opportunities such as computer programmers, analysts, developers (hardware and software), etc. Implementing IT in an effective manner would decrease the cost; cost which is expected at the time of failure. Also increases the flexibility.
Large sectors, complicated, complex sectors have been transformed into centralized/decentralized organizations. Opportunities have been increased in business; companies unlike manufacturing or distribution also make use of software either in determining weather conditions, freshness of product, or managing company's centers. Work can be optimized, costs can be reduced, and risks involved can be minimized and thus adds in growth of business. Determination of better strategies for business and solutions for business problems can be solved by IT. Companies may also exchange technology over the network.
The continuous growth in information technology is affecting all workers in the organization working at different levels, from top level executives to central level managing staff to lower level workers.
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