Information technology in business can be used to influence the structure of an industry. Companies have permanently altered the bases of competition by pioneering new innovations, forcing others to follow. Examples include American Airlines, Citibank, and USA Today, which have pioneered the use of automated teller machines, computerized reservations systems, and the transmission of newspaper pages to decentralized printing plants. Companies should look for ways to influence this kind of structural change, and find ways to lead the way.
Applications of information technology in business can be found in a variety of fields, from online shopping to bill payments and funds transfers. Today, companies use information technology to make it easier for consumers to find products and move money around the world. With the help of the Internet, consumers can buy virtually anything from a wide variety of companies. Similarly, companies use information technology to improve customer relations. For example, Western Union has developed an easyLink service that allows electronic devices to send messages to one another, even those that can’t be physically present. This service didn’t exist before information technology spread.
Today’s businesses are reliant on information technology to function. For example, accepting credit cards requires a complex system of telecommunications and bank exchanges.
Applications of information technology in business enable companies to expand locally and internationally. This is because it allows companies to outsource non-core tasks and make use of interconnected technology. Increasing access to data is vital for a business to remain competitive. Therefore, executives must …Examples of Information Technology in Business Read More