Documente Academic
Documente Profesional
Documente Cultură
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Introduction
Information Technology is a new aid factors for the trade, commerce and
industry in Bangladesh. Now- a- days, IT sector plays a crucial role in the
modern business.
development in
Bangladesh.
Technology
is
the
application
of
computers
and
but
it
also
encompasses
other
information
distribution
includes
data
centers,
computer,
computer
networks,
Background of IT
Humans
have
been
storing,
retrieving,
manipulating
and
(3000 BC
1450 AD),
mechanical
(14501840),
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because
better
Efficiency of Operations
Technology also helps a business understand its cash flow needs and
preserve precious resources such as time and physical space. Warehouse
inventory technologies let business owners understand how best to manage
the storage costs of holding a product. With proper technology in place,
executives can save time and money by holding meetings over the Internet
instead of at corporate headquarters.
Security
Most businesses of the modern era are subject to security threats and
vandalism. Technology can be used to protect financial data, confidential
executive decisions and other proprietary information that leads to
competitive advantages. Simply put, technology helps businesses keep their
ideas away from their competition. By having computers with passwords, a
business can ensure none of its forthcoming projects will be copied by the
competition.
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Research Capacity
A business that has the technological capacity to research new opportunities
will stay a step ahead of its competition. For a business to survive, it must
grow and acquire new opportunities. The Internet allows a business to
virtually travel into new markets without the cost of an executive jet or the
risks of creating a factory abroad.
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1. KEY IMPACT
IT significantly affects strategic options and creates opportunities and issues
that managers need to address in many aspects of their business. This page
outlines some of the key impacts of technology and the implications for
management on:
i.
E- COMMERCE
E-Commerce is the buying & selling of goods & services or the transmitting
of funds or data, over an electronic network, primarily the Internet. Internet
Commerce is the use of the Internet for all phases of creating and completing
business transactions. Various surveys suggest that the amount of business
conducted online will increase ten-fold over the next few year.
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Assisting potential customers with their purchasing decision for example by guiding them through product choices in an intelligent
way
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Business Strategy
i.
ii.
Organization culture
Organization Structure
For many years it has been argued that IT will enable larger spans of control
and the flattening of group ware. This has at last happened, but due as much
to initiatives like BPR (business process reengineering) and the drive to cut
costs. Research on whether IT encourages centralization decentralizations
produced ambivalent results. Many companies have centralized operations
(for efficiency) while at the same time decentralized activities. It now seems
clear that IT enables a greater variety of structures. In particular it
enables more flexible and fluid structure.
iv.
Management Processes
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i.
Product Development
Information technology can speed up the time it takes new products to reach
the market. Companies can write product requirement documents by
gathering market intelligence from proprietary databases, customers and
sales representatives. Computer-assisted design and manufacturing software
speed up decision making, while collaborative technologies allow global
teams to work on different components of a product simultaneously. From
innovations in microprocessors to efficient drug delivery systems,
information technology helps businesses respond quickly to changing
customer requirements.
ii.
Stakeholder Integration
iii.
Process Improvement
iv.
Cost Efficiencies
v.
Competitive Advantage
vi.
Globalization
vii.
Speed
viii.
Accuracy
A properly designed computer program does not make any mistakes, and its
computations (not its inputs) are free from human error. This means that a
calculation done by a computer program (like Excel) will always be accurate
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Computer reports
ix.
Competition
x.
Business Relationships
Internet technology -- such as chat rooms, Skype and other software -- has
made it possible to hold meetings without all parties being physically present
in the same place. A drawback is that meeting with somebody over the
Internet is much less personal than meeting face-to-face. Internet technology
in business decreases the personal aspect of business relationships.
Business people used to network in restaurants and on golf courses. Today,
the lack of physical proximity decreases brainstorming and other
communications that use a personal touch.
xi.
Businesses use cloud hosting services to store and backup business data.
Also it saves on paper work and makes transfer and access of data remote.
With services like Dropbox.com, business owners can access their data
any time any where. Information and data are very important tools for a
business, so it is very essential to store them safely and also access them at
any time of need.
xiii.
xiv.
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xv.
xvi.
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Accounting
Setting up and managing a new accounting system can be a daunting task
on your own. Modern accounting software packages simplify the process of
setting up accounts and posting daily transactions. Managing accounts with
a small-business accounting package such as Microsoft Money or QuickBooks
can eliminate the need to hire full-time or third-party accountants.
Accounting software also assists managers by creating informative reports
and financial statements to increase decision-making effectiveness.
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The Internet
The Internet has all but leveled the playing field for small-business marketers
competing against established businesses. With advanced video and
graphics editing software, small-business owners can create professional
marketing materials that reach thousands or millions of viewers online.
Entrepreneurs can take advantage of cost-efficient web marketing tools such
as Google AdWords to spread targeted marketing messages to a broad
audience or a select niche. Several small businesses can share expensive
advertising space online through banner- and traffic-swaps.
Startup Costs
Despite the numerous advantages granted by modern technology, there are
still drawbacks to technology's inseparable relationship with the business
world. One such drawback is the increase in startup expenses for new
businesses. Almost every new business requires computer workstations,
multiple telephone lines and network infrastructure before it can begin
operations. Bootstrap entrepreneurs can often get away with using their own
PCs and cellphones during the startup phase, but serious new ventures
undertaken by experienced entrepreneurs usually involve large infrastructure
projects to accommodate rapid growth.
Time Management
Time management is crucial for any small-business owner. Freeing up time
from administrative minutiae can allow you to focus on more productive
activities, such as drumming up new business and making vital contacts with
suppliers and potential strategic partners. Advances in computer and cellular
telephone technology allow business owners unprecedented access to indepth scheduling and customer relationship management software, enabling
busy entrepreneurs to hold "face to face" meetings online, from anywhere in
the world.
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i.
Confusion
While technology is useful, its fast pace and complex systems can be
confusing. If companies want to update their systems or change the type of
technology they use, they have to retrain not only employees, but often
customers. New employees must also be trained in using business systems,
which can create confusion.
ii.
Availability
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iii.
Crime
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iv.
Employee Morale
v.
Spam
vi.
vii.
Implementation Expenses
viii.
Job Elimination
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Security Breaches
Since businesses store their data on remote cloud servers which can be
accessed with a user name and password, they risk losing that data to wrong
minded knowledge works, hackers or viruses, which can harm he business.
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CONCLUSION
Information technology has helped in shaping both the business world
and our society in general. Many fields have been impacted by information
technology and these include; education , health , entertainment ,
communication just to mention but a few. The impacts of information
technology on operating business are profound. Companies rely on IT for fast
communications, data processing and market intelligence. IT plays an
integral role in every industry, helping companies improve business
processes, achieve cost efficiencies, drive revenue growth and maintain a
competitive advantage in the marketplace.
As the world develops, more technology will emerge and this technology will
have both positive and negative impacts. Information Technology has so
many positive impacts. IT has some negative impacts too. But business
cannot deny the impact it has had on every level.
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