Business "it" Opportunities

Business "it" Opportunities

Business "IT" Opportunities

Technology has greatly altered the structure and operation of all industries. For the management of any existing business, the central question is not whether technology will be relevant to your business, but rather what will we need to do to profit from that change. Technology is evolving many aspects of business and it creates many new business opportunities.

During the last ten years, information technology has experienced unprecedented levels of change, this technology is not only influencing the way in which we conduct business, and it is changing the way in which we conduct our lives. We are a business-centered society. In today’s competitive world, business professionals are increasingly aware of the value of managing relationships and communicating effectively, both within the workgroup and with their customers. Information technology has become an important part of most businesses. Information technology is a system used to control, manage, process, and create information through technology and computers.

In a survey written more than twelve years ago, John Browning wrote “Information technology is no longer a business source; it is the business environment” (Cited in http://www.brint.com/papers/change, 1993). Presently, ongoing advances in information technology, along with increasing global competition, are adding complexity to the business organizational environment. Computers have enabled companies to produce more data in the last 30 years than in the last 100 years. Companies make large investments in information technology to enable them to manage the large amounts of data and make it available to the people who need it.

Information technology describes a large range of systems there are still some underlying common features. “An information system (IS) is a set of interrelated components that collect, manipulate, store, and disseminate data and information and provide a feedback mechanism to meet an objective” (Stair & Reynolds, 2004, p. 4 chap. 1) which is viable for the success of a business. Information technology can improve a company’s performance in a number of ways. Increasing efficiency: if programmed correctly, computers can monitor the data collection processes very effectively, while also checking for human errors and providing help and guidance to the user. Access to internet for e-commerce, which expands the business globally, increasing the number of customers.

Many companies success is dependent on the data that it is able to retrieve. Shared databases, enable companies to remove barriers between departments giving staff more accurate information and greater competency to serve customers. Internally, a company can use technology to stream line, integrate, and synchronize key operating processes such as procurement, order fulfillment, and customer service. This can enable a company to improve the efficiency and effectiveness of supply and distribution channels. Benefits are achieved when a company harnesses information and knowledge located inside and outside the company to improve the performance of individuals and groups as they make decisions and take actions.

Many computer software packages are specifically designed for business such as word processing software, spreadsheet