Inion Technology In Business Essay

Inion Technology In Business Essay-68
According to the Flynn Effect, general IQ has begun to rise since the 1930s.

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Farmers use computers for production records, financial planning, research on technical issues, and procurement.

Nowadays the formula for business success is simple: drive innovation with information technology.

Innovation through information technology has created the following radical changes in business:· Online shopping is more efficient than shopping in a store.· Digital marketing is more efficient than high cost newspaper, television, and radio advertising.· Social networking is more efficient than going to clubs.· Voi P communication is more efficient than legacy telephony.· Cloud computing is more efficient than a private computer network.

Businesses that have embraced the innovation paradigm tend to have the following characteristics:· They have more accurate business planning · They have more effective marketing· They have higher global sales· They have more systematic management· They use real time monitoring· They offer instant customer support In fact, it’s hard to thing of long term business growth without the push of information technology.5 Reasons for Accelerated Business Growth The technological revolution has improved businesses this century in the following five primary ways: Improved hardware (more memory, faster processors, sharper visual displays, etc) combined with smarter applications (Mindmapping software like X Mind, collaborative software like Kanban boards, organizers like Google calendar, etc) have made it easier to research data, analyze it, and plan scalability. Good decisions in business are based on solid market research.

Innovation in Business Information technology fosters innovation in business.

Innovation results in smarter apps, improved data storage, faster processing, and wider information distribution. And innovation increases value, enhances quality, and boosts productivity.In fact, it’s hard to imagine any business that has not benefited from the digital revolution.Even something as hands on as agriculture uses computers.While innovations in travel and multimedia improved collective intelligence, these were mainly passive forms of learning.Today, computer applications and the global brain have switched on active learning and improved how fast people learn new things.It was the work of individual genius or think tanks.For the most part, brilliant people innovated and the public slowly adopted the idea.In the 1980s, innovation was not necessary for business success.A business could do well just deploying a proven business model. Following tradition was a sensible way to stay in business.Innovation is the Wave of the Future If the purpose of business is to increase profits, then innovation is the way to make more profits, faster.The story of Jan Koum gives us a clue how much big businesses value innovation.

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