Uses Of The Contemporary Information Technology In The Business World - Research Paper Example

Uses Of The Contemporary Information Technology In The Business World Introduction The use of technology has significantly impacted on the 21st century business world. According to Mangold and David (2009), the digitalization of the contemporary Information and Communication Technology has not only improved the 21st century business communication but has also provided a new platform for conducting and marketing businesses such as through e-commerce. For example, the phenomenal use of social media and other internet based applications has allowed businesses to interactively engage with their customers through the use of virtual platforms. This paper highlights the different applications and uses of information and communication technologies in the 21st century business world with particular focus to social media and e-commerce applications. Technology Description Social media technology refers to the computer mediated tools and web based applications that have been primarily developed to allow individuals create, exchange and share information, ideas, videos and pictures in their virtual networks and communities (Mangold and David, 2009). Due to its ability to transform how people interact and communicate, social media has increasingly become one of the most important communications and marketing tools in the 21st century business world. Examples of some of the most popular social media platforms commonly used by the 21st century businesses around the world include facebook, tweeter and You tube, Instagram among others. Basic Information Regarding the Technology The information era is featured with an influx of sophisticated IT assets that are so far turning to be integral components of the contemporary business models. In essence, companies are including information technology as a way to adapt their conventional business structures. One aspect of information technology that is becoming common place in many business structures is the use of the Internet. More than 1 billion people use the Internet all through the world for purposes such as research, online purchases and learning. For business enterprises, the Internet provides an appropriate forum to ship operations online and this is attained through e-commerce sites and social media. History Till 1990s, prior to the increased use of personal computers (PCs) and the web, organizations employed information systems in managing record keeping and data processing activities related to the day-to-day business transactions such as maintenance of the ledger books, inventory management and billing. More weight was attached to maintenance of files that were related to the aforementioned transactions. On the other hand, communication was pegged on faxes, papers, telephone along with other analog tools. Information systems have undergone significant transformation over the past 40 years including the transition from the mainframe computers that were common in 1970s to the introduction of the PCs for use in tracking business processes during 1980s (International Conference on Information Systems and Development, 2009). The advent of the Internet in 1990 further expanded the scope of the business operations whilst introducing a broader perspective of the roles that information systems were meant to play in a worldwide system of interaction. At present, business enterprises desire to remain globally competitive using the capabilities that revolve around the current state of information and communication technology (ICT). The Way the Technology was Conceived Earlier on, a life pattern that was deprived of information and communication facilities was common and it was akin to living in some dark globe, yet information was required to aid routinely endeavors such as supporting business operations. Thus, communication technology and business and information became parallel with each other and this had a negative impact on the trading activities. In fact, people were compelled to cover long distances in order to fetch or send products. It is on this ground that the evolution of ICT facilities found a place in the modern business processes. Technology in the Context of Modern Business Practices Virtually all 21st century business enterprises employ IT facilities for purposes like effective management of the routinely operations, improved decision making and to aid seamless communication with stakeholders, partners, customers and employees. Advancement in technology has brought about the social media sites that have been crucial in managing the modern business practices. Organizations today use a set of social media sites like Google Plus, Facebook, You Tube and Twitter to support the following operations. First, the social networking sites provide organizations with an ample opportunity to market services and products through adverts that are channeled via business-owned social media pages that the target consumers are often aware of (Mangold and David, 2009). Second, the social networks allow organizations to maintain real-time updates with their audience. A fruit store could for instance use Twitter to communicate an introduction of a new fruit or any last minute pricing changes. Finally, the social networks provide proper forum for the 21st century business enterprises to establish good relationships with their customers. A lab equipment store, for example, could post something on their Facebook profile to clarify a recent speculation regarding some harm associated with a laboratory chemical that they supply. In this aspect, the social networks provide a timely avenue to cultivate trust in the relationship between the business and its customers. Finally, e-commerce currently stands out to be the most useful application that has been brought about by the growing sophistication of IT assets (Stair & Reynolds, 2012). The advent of the e-commerce concept has transformed the manner in which businesses are operated, transforming the dynamics of advertising, sales, communication as well as the corporate structures. Generally, the 21st century has experienced new and innovative technologies that have brought about significant changes in the way e-commerce is carried out. Those e-commerce related changes, coupled with the introduction of the internet, have lured several business enterprises into shifting their routinely operations like order processing activities online. Conclusion In conclusion, the contemporary rapid advances in information and communication technology particularly the advent of social media technologies has significantly revolutionized the conduct of business in the 21st century in a number of ways by allowing allow individuals create, exchange and share information, ideas, videos and pictures in their virtual networks and communities. References Bradford, M., & North Carolina State University. (2010). Modern ERP: Select, implement & use today's advanced business systems. Raleigh, NC: North Carolina State University, College of Management. International Conference on Information Systems and Development: Methods and Tools, Theory and Practice, & Papadopoulos, G. A. (2009). Information systems development: Towards a service provision society. New York: Springer. Mangold, W., David J. (2009). Social media: The new hybrid element of the promotion mix. Business Horizons 52, 1, 357-365. Stair, R. M., & Reynolds, G. W. (2012). Principles of information systems. Australia: Course Technology Cengage Learning. Read More