Technology+and+Business

=The Role Information Technology=

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In the 1990’s businesses began to shift their gears towards information technology (IT). Information technology’s role in the business world is to change businesses for the better using new technological methods.

IT Business Changes
There are many business changes through new technology. Business is being conducted into a new form as can be seen though the growth of e-commerce. Here are just a few examples of how IT is shaping businesses.

Businesses can use the Internet to conduct their services more effectively than before. Anyone with access to the Internet can access the services site without having to leave his or her home. Such examples are ordering clothes, auctioning off goods, and paying bills with a click of button.
 * Convenience**

This simply means that technology allows businesses to be conducted everywhere and anywhere without having to be in a concrete location. For example, anyone can access their business transactions through palm pilots or laptops.
 * Virtualization**

Things are just faster with technology. E-mails, the telephone, and instant messaging all help in transferring information to one another instead of face-to-face communication. Time-consuming meetings are no longer needed as people can share their information with one another making things faster.
 * Speed**

Barriers are broken so that it allows information to spread to everyone in the company. Every function of the company receives the same critical information instantly and effectively.
 * Organization**

The cycle times of companies are shrunken, fewer defects are created, and more productivity can be outputted.
 * Operations**

Middle management and other layers of management are no longer needed which means many jobs are being lost. “Virtual Offices” are created with employees at different locations.
 * Staffing**

Since time is cut back and things are more productive, focus can be brought to researching the markets and developing new products.
 * New Products**

Problems from the customer can now be addressed instantly through company databases. The more efficient a company can solve their customers complaints, the stronger customer relationships become.
 * Customer Relations**

Through online advertising businesses can attract more customers. Technology also allows more opportunities and things to be advertised which in turn creates new markets. For example, there are advertisements for online domains and online shopping.
 * New Markets**

Knowledge Technology
There is now a movement from information technology towards knowledge technology (KT). KT filters through unnecessary information and deliver it when it is needed. Data is brought to the individual and because of this time is reduced that a person spends on finding information. An example of Knowledge Technology would be business training software for a new employee that helps a trainee with information and tips on how to do their job. This allows supervisors to focus their attention on other problems. The time that is saved is then spent on focusing attention towards problems of the company and what opportunities come up. Sharing knowledge with one another is a key to competitiveness. This allows a company to become flexible which in turn allows companies to survive in the cut throat business world.

=Managing Information=

Infoglut refers to the mountains of information businesses receive. This is an information overload due to the new technological world where many different ways exist to send information across faster and more efficiently than before. Information is a good thing but too much of it makes it hard to sort out the relevant information that is needed. The following characteristics:


 * 1) **Quality**
 * 2) **Completeness**
 * 3) **Speed (Timeliness)**
 * 4) **Relevance**

=Security Issues=

In the Information Technolkogy age, the priority of security was pretty low. Recently, there has been a movement towards stronger IT security in businesses because of electronic threats such as hackers and viruses. Businesses have realized that security failures could result in loss of money and reputation as a safe business. New executive positions will be given more importance to help take care of IT risk. According to Cory Levine, the following positions will be given a stronger role:


 * 1) **Chief Technology Officer**
 * 2) **Chief Security Officer**
 * 3) **Chief Risk Officer**

Businesses cannot create a secure system on their own and must rely on other companies to provide them with the technology. Some of these vendors include [|Cisco], [|Nortel], and [|Symantec].

=IT and Business Organizations=

Businesses use information technologies as part of their everyday business processes.

//Internal Processes: //-Maintains information technology systems -Implements beta technologies -Server and Network operations -Software development
 * Microsoft**

//External Processes //-Delivers information technology solutions -Provides e-support (contacting Microsoft product support services)


 * Dell**

//I////nternal Processes:// -Supply chain management (SCM) -Customer relationship management (CRM) -Operates through database -Operates over the Internet

//External Processes //-Provides outsourcing services to both customers and other companies -Just-in-time manufacturing -Built-to-order processing -Operates over Internet for customers

//Internal Processes:// -Innovation and research -Exploit LCD Devices -Constant studying basics in computing - Research in advanced mathematical software
 * IBM**

//External Processes// -Collaborating with clients through the internet -Collaborating with universities through the internet -Offers training services over the internet -Offers business consulting services over the internet =Works Cited=

Berman, Paul D., Cossa, Rossa, McHugh, Susan M., McHugh, James M., and Nickels, William G. (2005). __Understanding Canadian Business__. United States of America: McGraw-Hill Ryerson Limited.

Levine, Cory. (2006). 'A New View of Risk.' //Wall Street and Technology// [online]. Available from: [|http://proquest.umi.com.myaccess.library.utoronto.ca/pqdweb?index=0&did=979753091&SrchMode=1&sid=1 &Fmt=6&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1141081346&clientId=12520] [accessed 27 February 2006]