Impacts of Information Technology on Society in the New Century

Before few decades there has been a revolution in computing and communications, and everything indications are that technical progress and use details technology will continue at a rapid pace. Enclosed and supporting the remarkable increases in the electric power and use of new information technologies is the declining cost of marketing communications consequently of both technical improvements and increased competition. According to Moore’s rules the processing power of microchips is doubling every 18 months. These developments present many significant opportunities but also pose major challenges. Today, innovations in information technology are having wide-ranging effects across numerous domains of society, and policy makers are operating on issues involving monetary productivity, intellectual property protection under the law, privacy protection, and cost of and access to information. Choices made now will have durable implications, and attention must be paid to their interpersonal and monetary impacts.

Probably the most significant outcomes of the progress of information technology may perhaps be electronic commerce over the Internet, a different way of conducting business. Though only a few years old, it may radically alter economical activities and the social environment. Already, it impacts such large sectors as marketing communications, finance and retail company and may expand to areas such as education and health services. This implies the seamless software of information and communication technology along the whole value chain of a business that is conducted in electronic format.

The impacts of information technology and electronic marketing on business models, marketing, market structure, workplace, time market, education, private life and society as a whole.

1. Business Versions, Commerce and Market Framework

One important manner in which information technology is affecting work through reducing the value of distance. In many companies, the geographic distribution of work is changing significantly. For instance, some software organizations have found that they can overcome the tight local market for software engineers by mailing projects to India or other nations where income are much lower. Furthermore, such arrangements can take benefit of the time dissimilarities so that critical assignments can be worked on almost around the time clock. Firms can outsource their manufacturing to other countries and rely on telecoms to keep marketing, R&D, and distribution teams in close contact with the manufacturing groups. Thus the technology can permit a finer label of labour among countries, which often impacts the relative with regard to various skills in each nation. The technology permits various types of work and employment to be decoupled from another. Organizations have greater freedom to locate their financial activities, creating greater competition among regions in infrastructure, work, capital, and other useful resource markets. It also clears the way for regulating arbitrage: companies can progressively choose which tax power and other regulations apply.

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