Analyzing ICT's Role in Business Operations, Knowledge, and Success

This report provides a comprehensive overview of the role of Information and Communication Technology (ICT) in modern business operations. It highlights how ICT facilitates effective communication, enhances knowledge creation and exchange, and contributes to overall business success. The report examines the application of ICT in various business functions such as management, finance, marketing, and human resources, detailing how technology improves efficiency and competitiveness. Furthermore, it emphasizes the importance of ICT in knowledge management through platforms like the internet and social media, enabling businesses to access and disseminate information effectively. Ultimately, the report concludes that leveraging ICT is crucial for businesses to thrive in today's dynamic and competitive market environment, offering significant advantages in communication, marketing, and operational efficiency. Desklib provides students access to similar solved assignments and resources.

Information and
communication technology

Table of contents
 INTRODUCTION
 MAIN BODY
 Role of information and communication technology in business operation
 Usage of Information and communication in creating and exchanging
knowledge
 How ICT can benefit business success
 CONCLUSION
 REFERENCES

INTRODUCTION
Information and communication technology is the extension term of information
technology under which different types communication devices and computer software's are linked
together to established effective and common interface. These technologies are used to store,
transmit and understand the different types of data which helps to established effective returns. The
concept of information and communication technology plays important role in market specially in
business management. This report is going to explore different types of roles played by aspect of
information and communication strategy for business functions. It also helps to explore different
types of roles played by ecology for achievement of organisational goals and objectives.

Role of information and communication technology in business
operation
Business is regarded as the bunch of different types of operations which is
required to be performed by management for achievement of their goals and objectives.
There are number of operations are present in business such as management, finance,
marketing, human resource and many more. All these functions plays important role for
success of organisation and the use of technology in these operations makes them more
competitive and efficient. The brief discussion related to the role of information and
communication technology in each business operations are give below;

Management
Management is process of staffing and controlling of employees in
organisation and influence their attitude towards achievement of
organisational goals and objectives. In modern day business the
size of business increases by huge level under which management
is required to recruit huge employees. It is not possible for
managers of organisation to manage all activities of business
manually (Ahmed, Nathaniel and Shahbaz, 2021). The information
and communication technologies helps business to develop
effective communication between different activities of business
which helps to conduct all activities in effective manner.

Finance
Finance refers to those activity of business under which managers of organisation need to
make effective records of monetary transaction so that effective allocation of funds can be
taken place. The size and number of transactions are very high in business organisation which
requires modern methods to be stored. There are many accounting and computing software's
are present in information and communication technology which helps to perform this task.

Marketing
Marketing refers to stimulating the demand of product and services with helps of
different types of techniques and tools. The modern technology plays important role
under marketing because it provides many advance methods of marketing such as E-
mail marketing, social media and many more.

Human resource
The management and the training of employees are came under this
process of the organisation. The information and communication
technology provides many measures to company which helps to
maintain effective records and established effective communication
channels between employees (Shobande and Ogbeifun, 2022).

Usage of Information and communication in
creating and exchanging knowledge
Knowledge and information is one of the most important and valuable
factor for success of any individual or the company. Information plays important role
for development as it helps to make more competitive towards different problems.
The main aim of internet and technologies is to ensure effective creation and
exchange of information. World wide web plays significant role for making the
concept knowledge management more effective and useful for civilisation. There are
large number of communication channels are developed which promotes the
exchange of knowledge and information. These mediums are internet, television and
radio and many more. The concerned parties stored and gran knowledge from
different sources and display on these devices such that it can be reached to large
number of peoples. Social media is also a goods source of knowledge exchange under
which large number of peoples in organisation.

How ICT can benefit business success
The success of business is depend upon how their operations perform in organisation and
what returns they have provided. It is very important for success of the organisation that all
their business units performs well. There are different aspects of ICT are present which helps
to benefit business success and the brief discussion related to same are given below:
 ICT helps to established effective communication channels in organisation with helps of
their modern technological devices (Shokrkhodaei and Salatin, 2018). These devices
helps to develop effective communication between different business units which enables
to increase efficiency.
 The concept of ICT provided effective marketing tools such as social media and many
more which helps to grab large number of customers and deal with the competition in the
organisation (Van Winkle and Bueddefeld, 2020).

CONCLUSION
It is concluded from this report that success of business is depend upon the usage of modern
technology which makes them more competitive. This report concludes the importance of
information and communication technology for creation and sharing of knowledge. This
report is concludes different types of roles played by aspect of information and
communications strategy for business functions. It also concludes different types of roles
played by technology for achievement of organisational goals and objectives.

REFERENCES
 Ahmad, I., Azhar, N. and Chowdhury, A., 2019. Enhancement of IPD characteristics as impelled by
information and communication technology. Journal of Management in Engineering, 35(1), p.04018055.
 Ahmed, Z., Nathaniel, S.P. and Shahbaz, M., 2021. The criticality of information and communication
technology and human capital in environmental sustainability: evidence from Latin American and Caribbean
countries. Journal of Cleaner Production, 286, p.125529.
 Shobande, O.A. and Ogbeifun, L., 2022. Has information and communication technology improved
environmental quality in the OECD?—a dynamic panel analysis. International Journal of Sustainable
Development & World Ecology, 29(1), pp.39-49.
 Shokrkhodaei, F. and Salatin, P., 2018. The effect of information & communication technology on tax revenue
in selected countries with an emphasis on tax evasion. Macroeconomics Research Letter, 13(25), pp.107-132.
 Van Winkle, C. and Bueddefeld, J., 2020. Information and communication technology in event
management. Handbook of e-Tourism, pp.1-22.