The Impact of Information Technology on the Modern Business World
PURPOSE OF THE STUDY
The main purpose of this study is to examine each of these characteristics of today’s business world. On a more specific term, to
- Examine the role of information technology on the modern business world.
- Examine the impact of information technology on performance of the workers.
- Look into impact of information technology on communication in the modern business organization.
- To find out the attitude of organizations and their workers towards the change brought about by information technology. This research work is intended to enhance knowledge and eliminate difficulties encountered in the business world in relation to the use of information technology.
REVIEWED OF RELATED LITERATURE
CONCEPT OF INFORMATION AND COMMUNICATION TECHNOLOGY
Information systems and technology in the organization have developed from one level to another through different ages and times.
In the dark ages, business transactions were executed through personal contracts. There was no system of writing and keeping records. Business deals were settled and information exchanged at coffee house, bar etc.
Pitman (1997) as found in Ahukannah (2009). Posit that Business grew bigger and faster during the industrial revolution and so there was the need to communicate and record business transactions settling business deals with mere words, was no longer sufficient. Invoices are essential part of business transactions. The documents were however handwritten by clerks using the “quill pen”. The production of documents in printing started in the year 1437. These early attempts marked the. However, information and communication technology which have from the core of modern business organization is an indispensable resources in our day-t0-day organizational works performed by workers in both private and public sectors.
In a Nutshell, this concept information and communication technology may mean different things to different people based on their perception. However, it will be much pertinent to draw/disclose the meaning of information and communication technology.
According to Aronu (1999) information and communication technology involves the combination of two technologies, computing and telecommunication (the corner stone of information technology and the main purpose of which is to transmit representation of information (signals) between remote locations). In the same vein, Ogwe (2016) sees information and communication technology as an umbrella term that includes all technologies for the manipulation and communication of information. Furthermore, Kabari (2015), said, “that information and communication technology is the use of technology in managing and processing information especially in a large organization. He further stated that over the past 20 years, the prevalence of information technology has dramatically increased so that it is now a part of nearly every aspect our dear life.
In a Nutshell, it will be pertinent to note from the definitions and meanings given by these authors above, that today the term information and communication technology has enveloped to encompass many aspects of computing and technology, and the term is more recognizable than ever before. The information technology umbrella can be quite large, covering many fields and scopes of modern business organization. According to Kabari (2015), the following are the perceivable importance of information and communication technology”
- Speed: Information and communication technology gadgets help a worker to calculate a whole lot faster than human beings. Therefore, more work can be accomplished within the same number of working hours.
- Cost effectiveness: Information technology has helped to computerize the business process thus streamlining businesses to make them extremely cost effective money making machines.
- Trade convenience: Internet is a great place to post an advertisement for selling any product: as it accessed across the globe, it is possible to receive quotations from other parts of the world.
- Creation of new jobs: It is true that information and communication technology has made mechanical jobs like that of a typist, redundant. But it is also true that new lines like software engineer, hardware engineer, networking data analyst, etc have emerged because of information and communication technology. These jobs are more intellectually propelling. Therefore, the staff is likely to experience greater job satisfaction. However, nobody or modern business organization can deny that its sectors has improved for better since the last decade or two, primarily because of information and communication technology.
FUNCTION OF INFORMATION AND COMMUNICATION TECHNOLOGY
The relevance/functions of information and communication technology is enormous to the modern business organization and its workers performance cannot be over emphasized. The basic function includes:
- Increased productivity: When a worker gets himself abreast with the latest happenings and innovation in the business organization, his efficiency and effectiveness is improved, resulting to increased productivity.
- Prestigious status: When an office worker gives himself over to hearing new things he simply makes himself have our edge over others.
- Conducive/pleasant working environment: The use of modern machines like computers. Telephones, tax machines, etc has drastically reduced the quantity of files, papers, cabinets in some organizations, making them neat and pleasant.
- Ease of communication: When a worker is conversant with the modern communication gadgets e.g telephone types to perform different functions, have good knowledge of e-mails, internet, etc. Communicating with other workers and organization becomes very easy.
- Relevance and promotion in the place of work: A worker who has taken time to develop himself becomes very relevant and inevitable to his organizations. No organization would want to lose such a worker and as a result, there is job security and of course the chances of getting promoted are facilitated.
In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.
Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e., mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.
POPULATION OF THE STUDY
According to Udoyen (2019), a study population is a group of elements or individuals as the case may be, who share similar characteristics. These similar features can include location, gender, age, sex or specific interest. The emphasis on study population is that it constitutes of individuals or elements that are homogeneous in description.
This study was carried to examine the impact of information technology on the modern business world. Selected businesses in Kaduna state form the population of the study.
DATA PRESENTATION AND ANALYSIS
This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of eighty (80) questionnaires were administered to respondents of which only seventy-seven (77) were returned and validated. This was due to irregular, incomplete and inappropriate responses to some questionnaire. For this study a total of 77 was validated for the analysis.
SUMMARY, CONCLUSION AND RECOMMENDATION
It is important to ascertain that the objective of this study was to ascertain the impact of information technology on the modern business world. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of the impact of information technology on the modern business world
This study was on the impact of information technology on the modern business world. Three objectives were raised which included: Examine the role of information technology on the modern business world, examine the impact of information technology on performance of the workers, Look into impact of information technology on communication in the modern business organization and to find out the attitude of organizations and their workers towards the change brought about by information technology. A total of 77 responses were received and validated from the enrolled participants where all respondents were drawn from selected businesses in Kaduna state. Hypothesis was tested using Chi-Square statistical tool (SPSS).
In conclusion, the study highlights the transformative power of information technology in the modern business world. By embracing technological advancements and strategically leveraging IT resources, businesses can gain a competitive edge, drive innovation, and adapt to the dynamic market demands. It is crucial for businesses to stay agile, continuously update their IT infrastructure, and invest in the necessary training and support to fully realize the potential of information technology in achieving organizational goals and sustaining long-term success.
Based on the study on the impact of information technology on the modern business world, the following recommendations are proposed:
- Embrace Digital Transformation: Organizations should prioritize digital transformation initiatives to leverage the full potential of information technology. This involves adopting innovative technologies, such as cloud computing, artificial intelligence, and Internet of Things, to optimize business processes, enhance customer experiences, and drive efficiency.
- Invest in Cybersecurity: With the increasing reliance on information technology, organizations must prioritize cybersecurity measures. Investing in robust security protocols, regular vulnerability assessments, and employee training can help protect sensitive data, mitigate risks, and maintain customer trust.
- Foster a Culture of Continuous Learning: Organizations should promote a culture of continuous learning to keep up with technological advancements. Providing training programs, workshops, and resources to employees will ensure they have the necessary skills and knowledge to adapt to evolving technology trends.
- Foster Collaboration and Communication: Encouraging collaboration and communication among employees, departments, and external partners is crucial in leveraging information technology effectively. Implementing collaborative tools, project management systems, and communication platforms can enhance teamwork, knowledge sharing, and innovation.
- Prioritize Data Analytics: Organizations should invest in data analytics capabilities to extract meaningful insights from the vast amount of data available. By leveraging data analytics tools and techniques, businesses can make informed decisions, identify trends, and gain a competitive advantage.
- Stay Agile and Adaptive: Given the rapidly evolving nature of information technology, organizations should maintain agility and adaptability. This includes regularly evaluating and updating IT infrastructure, embracing emerging technologies, and being open to change in order to remain competitive in the digital landscape.
- Foster Customer-Centric Approaches: Leveraging information technology to create personalized and seamless customer experiences is essential. Businesses should adopt customer relationship management (CRM) systems, data-driven marketing strategies, and omni-channel approaches to understand customer needs, deliver tailored solutions, and build long-lasting relationships.
- Collaborate with Technology Partners: Collaborating with technology partners, consultants, or experts can provide valuable insights and guidance in implementing information technology initiatives. Building strategic partnerships can help organizations navigate complex technological landscapes and drive successful digital transformations.
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