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INFORMATION TECHNOLOGY IN THE WORLD OF BUSINESS 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 it is changing the way in which we conduct our lives We are a business-centered society In todays 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 though technology and computers In a survey written more than twelve years ago John Browning wrote Information technology is no longer a business resource it is the business environment1 Presently ongoing advances in information technology along with increasing global competition are adding complexity to the business organizational environment An organizations response the environment will continue to be the crucial determinate for its effectiveness Business organizations needs to process information and make decisions will be substantially increased The capabilities and flexibilities of computer-communication systems make them increasingly relevant to organizations by being able to respond to any specific information or communication requirement 2 Computers have enabled companies to produce more data in the last 30 years than in the last 5000 years Companies make large investments in Information Technology to enable then to manage the large amounts of data and make it available to the people who need it Information Technology may be considered as comprising of five basic components - computers communications
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