ITC563 | Role of ICT in Business Activities | Information Technology

Home Assignment Answers ITC563 | Role of ICT in Business Activities | Information Technology

Organizations today embrace Information and Communication Technology (ICT) as driving forces that accelerate enterprise and business growth. ICT supports numerous businesses activities by creating, storing, manipulating and communicating information with appropriate management methods. ICT is also a fundamental ingredient for the globalisation of the organisation. It has impacted all aspects of a business. It has enhanced almost all functional units of the business such as marketing, finance, networking and business collaboration. Major disruption has been brought about by electronic retail and online presence achieved by businesses via appropriate ICT. Via these strategies, businesses have reached new markets with cheaper and innovative ways. Customer engagement has also enhanced as via internet they can interact with the business whenever they want and from wherever they want.

Impact Of Organizational Activities and Business Functions

ICT has brought about effective means for communicating with customers, suppliers and other important stakeholders in real-time. Businesses can now conduct online marketing campaigns via Contact Management Systems that enables full cooperation between the customers and the business strategies. Having an ICT infrastructure is essential for businesses these days. This implies that they make use of mobile technology, email systems, laptops and broadband connections for reaching out their customers. Then, effective technology, auditing and inventory control systems must report the outcomes of their online marketing campaigns. This makes the business more targeted and effective. For managing financial activities of the business, they make use of software programs such as Excel and Sage that can automate the process of accounts management. Accounts managers can effectively visualise their financial details at any instant of time. They are also privileged to monitor the customer purchase patterns and respond to these patterns immediately. During the process, they can adopt certain customer retention strategies via ICTs such as offering those discounts that can result in improving their finance structures. The use of ICTs in this unit has resulted in significant reduction in the accountancy fees and operational costs.

ICT has majorly contributed to collaborate dispersed business teams and has made out of the office working possible. In fact, with the advent of ICT, the concept of dispersed teams has also grown. Now teams can effectively update one another and communicate from different geographical locations. This is facilitated by communication opportunities such as Voice over Internet Protocol (VoIP) that can effortlessly transfer data over far-flung locations. VoIP is capable of replacing entire telecommunication system of the organisation and allowing the enterprise to operate at the same time effectively. Businesses can also cost-effectively enable sharing of essential resources. Organizational assets such as printers, internet access and different files can be shared by multiple users at the same time via enterprise network connection. The enterprise can virtually view the security of the infrastructure and regulate controlled access to these resources. These transformations are continuously evolving to benefit businesses.  To remain competitive and productive, businesses must involve in the extensive use of ICTs central to their operational activities. They must involve in e-collaboration activities for sharing information among external partners. This process also constitutes an integration of all the business processes and departments. This is facilitated by third-party Application Service Providers (ASPs).

Benefits of ICTs

In the major application of ICT such as in E-Business processes, ICTs have eased out businesses processes by reducing transaction costs, increasing productivity and by speeding up the business. Market reach has broadened as ICT pose as a catalyst for driving business growth. Organizations can easily identify their comparative advantage over other businesses. Further, there is close alignment in business activities and ICT for bringing competitive advantage to organisations and for producing high-quality services and products at affordable prices. There are major applications that can assist organisations in such collaboration. They include Customer Relationship Management (CRM) Systems and logistics. These applications can directly implement business activities by linking the organisational culture, knowledge and ICTs. This integration allows business to function effectively by utilising key business assets. These applications are also customised to provide services to the end customers in an effective manner.

Adoption of ICT in business has significantly impacted business functioning internally and externally as it has brought about manifold changes in organisational structures. These changes are mainly observed in three areas namely market organisation, internal organisational structure and organisational cooperation among customers and company. ICT manage information processing and sharing among different organizational activities. Companies act as Internet Service Providers (ISPs) for their customers. Various ICT tools are used for different business processes such as video-conferencing for contacting dispersed teams, email services for sharing business related files. Thus geographical locations don’t restrict business operations as they can be continued via remote services and internet.

ICTs are strongly participating in growth related activities for businesses all around the world. They have allowed sellers and buyers to interact with one another as never seen before in the history. Online ordering systems have broken barriers and allowed businesses to enter new markets. ICTs have positively associated with organisational growth and associated activities. They are allowing businesses to connect with the rest of the world remotely. However, it is essential that businesses focus on certain factors such as speed of response in real-time and the ways how team and customers interact with one another. Then, they must remain updated with the newer technologies to maintain their competitive edge. They must expand their business as per the communication opportunities coming in the market. In this way, companies can benefit immensely regarding operational savings and productivity.

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