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[PDF] Impact of Information Technology

   

Added on  2021-04-24

4 Pages873 Words55 Views
Executive Summary 1To: The management From: Subject: Challenges and opportunity by Information Technology to Corporate WorldIntroductionAs per the demands, I have conducted extensive research using secondary sources in trying to examine the effects of technology in terms of the positive and negative issues it bears on corporate business. Therein are examples of the cases at hand and how individuals in the corporate world utilize the same. Positive Impacts of TechnologyTechnology has revamped the way individuals communicate in organizations and broughtincreased benefit therein. As opposed to the previous times, the present corporate world utilizeselectronic reporting and submission of reports. In this respect, company officials can submit andexplain their deliberations on a given set of occurrences online through email and video chatsthus saving on time and other resources (Argenti 2006).Besides, it allows workers to work in their desired locations where the tasks to be doneare transferred via the email and the responses reach workers involved in a project in real time.Here, individuals can get acquainted to information without having to read of the same on noticeboards as the same can be done through personal mails. Technology has developed a quickresponse system where conference can be done online through teleconferencing and all partiesinvolved given time to air out their issues thus saving on time and resources needed to gatherparties involved (Argenti 2006).At the same time, it was found that technology has improved the way organizations market theirproducts and place them strategically towards growth. Organizations currently market their

Executive Summary 2products online, reaching a multitude of people on the social media and other pop upadvertisements (John 2000). As opposed to the traditional means, the present technologicallyenabled advertisement and marketing reaches a lot of people in real time and allows for onlinebooking and sales of products. Eventually, it bolsters sales of companies.The present day technology assists firms in comparing information and thus boosts theirperformance. Previously, it was difficult to find information and marketing tacts of othercompanies as it was done within an organization. However, the current technology assists intracking and observing a trend in the market thus increasing competition among firms (John2000). Eventually, it culminates into stronger policies that assist firms to compete favourablyamong themselves.Challenges of TechnologyPresent day communication technology puts information of organizations at risk ofhacking and tampering. Cases of information leak and hacking harms the corporate world asstrategies and policies of development can be observed and used by competitors towards theiradvantage. Information by senior management can be hacked and spread to unintended personsthus damaging reputation and information secrecy. As such, this may result in information lossand damage as organizations remain vulnerable.At the same time, technology has reduced face to face interactions among workersessential for team building and information sharing (Bloom, Garicano, Sadun and Van Reenen2014). Currently, individuals in the corporate world in different locations interact through hatsand emails thus losing contacts. There are some issues that ought to be discussed freely on a faceto face model that cannot occur thus limiting interactions to formal types only. As a result, a key

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