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MANAGEMENT DEVELOPMENT INSTITUTE OF SINGAPORE INTERNATIONAL INFORMATION TECHNOLOGY MANAGEMENT ASSIGNMENT
HIGHER DIPLOMA IN INTERNATIONAL BUSINESS
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NAME OF STUDENT | NRIC OR FIN NUMBER | KARAN ASHOK | G1138495T |
DATE HANDED IN: 27/03/2013
1) Explain how information technology is changing the landscape of business?
Information Technology is essentially a wide and varied field. So it’s only natural that something as ubiquitous as I.T. plays a major part in business.
But what exactly is the impact of Information Technology on business?
First off, I.T. affects how businesses go about with their usual routine. For instance: the technology allows companies to go paperless, depending only on digital databases to store important data. This not only provides a secure and sustained mode of data storage which can be backed up in many ways but also acts as an eco- friendly move towards not wasting paper. But the shift offers several benefits as well—including reduction in operational cost, since the business no longer has to buy or rent space or equipment just to store data.
Information Technology also affects the accuracy of business operations. When a company uses a computerized accounting system instead of relying on a real live accountant, they eliminate (or, at the very least, significantly reduce) human error. And because such systems allow for faster operations, the company’s workers can concentrate on more pressing tasks. This allows the company to cover a larger scale of work in a shorter period of time, increasing the efficiency of the company as a whole.
Of course, I.T. also allows companies to communicate easily regardless of distance. Several years before advancements in Information Technology,
HIGHER DIPLOMA IN INTERNATIONAL BUSINESS
-------------------------------------------------
NAME OF STUDENT | NRIC OR FIN NUMBER | KARAN ASHOK | G1138495T |
DATE HANDED IN: 27/03/2013
1) Explain how information technology is changing the landscape of business?
Information Technology is essentially a wide and varied field. So it’s only natural that something as ubiquitous as I.T. plays a major part in business.
But what exactly is the impact of Information Technology on business?
First off, I.T. affects how businesses go about with their usual routine. For instance: the technology allows companies to go paperless, depending only on digital databases to store important data. This not only provides a secure and sustained mode of data storage which can be backed up in many ways but also acts as an eco- friendly move towards not wasting paper. But the shift offers several benefits as well—including reduction in operational cost, since the business no longer has to buy or rent space or equipment just to store data.
Information Technology also affects the accuracy of business operations. When a company uses a computerized accounting system instead of relying on a real live accountant, they eliminate (or, at the very least, significantly reduce) human error. And because such systems allow for faster operations, the company’s workers can concentrate on more pressing tasks. This allows the company to cover a larger scale of work in a shorter period of time, increasing the efficiency of the company as a whole.
Of course, I.T. also allows companies to communicate easily regardless of distance. Several years before advancements in Information Technology,