Information Technology

Information Technology

           Modern technology, which deals with the retrial & processing of user data, is termed Information Technology. This broad term encompasses computer science and technology as well as communication system such as computer networks (internet) etc. The striking advances in Many fields of science and technology have had a deep impact on our lives in almost every sphere of our movement whether it’s health, agriculture, communication, transport or defense, etc. these advances are the outcome of an ever-growing volume of exciting discoveries by the western nations, in particular, which have had the courage and vision to make the cornerstone of their development programs.

Information Technology
Information Technology

            The days when one could depend on agricultural produce, low-value textiles, leather, etc. for economic growth are long gone. The world is today simply divided by a “Technology Boundary” which separates the technologically advanced countries from the technologically backward countries. The former has been able to use their scientists and engineers for rapid economic growth while the so-called developing countries (which in reality are not developing at all) and one are almost totally dependent on the advanced countries for most of their needs, such as chemicals, pharmaceuticals, engineering, goods, transportation, defense equipment, etc.

            Nowadays the name of the game to achieve quick economic progress is Information Technology. it must be thought of as an important national investment and not as an expenditure.  This investment is more important than building roads, bridges, powerhouses, or motorways.

             Whether it’s a government sector or a private sector company, the usage of exciting integration systems built on the flow of computer-based information data and images has given the user an edge over its rivals. The computer-based application has led to great awareness, higher opportunity levels, better productivity, and less cost.

            The Americans and Japanese have capitalized the most of this knowledge called information technology (IT) and communication economy which has a market worth of over US $ four trillion. These two countries have led the way in developing hardware, and software and enabling communication technologies for system integration. The IT industry has a growth rate of 18% annually and has grown four times to its present size of US$ 4 Trillion since 1980. At present, the IT industry has more than 800,000 jobs worldwide which are yet to be filled up. The success of the IT industry is rated as the largest single factor in America today which is the world’s top economic power as IT & Communication contribute over 40% to its total revenue earnings.

            The newly industrialized countries have been quick to jump on the IT success trend. Its products and services contribute over 25% of the GDP in Singapore, 15% in South Korea, and over 14% in Malaysia. India has revitalized its economy around its booms in the 80s and the last 15 years, its IT industry grew from only US$ 281 million in 1985-86 to its present size of over US$ 4.5 billion reflecting an increase of over 1500%.

            Due to the marvelous development in the field of IT, the world has become a global village. After achieving significant growth levels through computer usage in the last 20 years, world economic leaders have opened up a new world, the internet in which everybody has a right to publicize an ideology, a product, or a service.

            The 2.3 billion pages on the internet have information and technology for all segments of society. Students in far-off lands can link up with the best of the universities in the USA or other first-world countries through internet-based distance-learning programs or consolation on the most fatal disease can be done on the internet. Through sites like or E-steel, a huge variety of consumers on industrial goods are traded on the internet.

            The growth rate in the other countries is 3-4% on average while in IT it’s 15-20%.

            The amalgamation of telephone, mobile phones, computers, and the internet is going to dominate the world scene in the next 5-10 years as the single largest medium of communication.

            Electronic commerce activities on the internet are estimated at US$ 1.5 trillion market in the next three years. Thus, will be dominated by the internet revolution, particularly in the field of E-Commerce.

            Let’s discuss in detail what’s E-Commerce.

Electronic Commerce (E-Commerce)

 It has two branches Business to Business (B2B and Business to Consumer(B2C). The first one does not straight contain consumers while the second one is the process of directing business on the internet with the consumer by skipping the traditional middleman.


            The B2B transactions are generally conducted between the supplier and the manufacturer and retailer directly. The buyer and seller have authorized access to each other’s information system and orders are placed for services, which are provided either through the internet or through a virtual private network. The physical transaction is conducted between two parties directly while the financial aspects of the transaction are conducted between two parties directly while the financial aspects of the transaction are facilitated by an intermediary which in most cases will be a bank.

            Businesses, organizations, and even governments are switching to electronic commerce to generate higher profits, cut costs and build intangible assets such as customer loyalty, brand equity, and public convenience. Some of the most successful adopters of electronic commerce are achieving all the benefits. Electronic commerce generates revenues through advertising, subscriptions, and the scale of products and services, which heavily depends on content and technology.

            In the time of life of E-Commerce, most firms and governments are on the web. Web-based databases and directories are becoming extraordinarily popular and valuable. The leading web-based directory service providers are becoming exceedingly popular and useful. The advertising is likely to yield much of the income on web pages.  Most governments are induced that E-Commerce is speedily penetrating the small and average business markets. Industry players have transformed their attention, so now they have staged building joint ventures, and partnerships with different players.

            As for every business for E-Commerce, one needs to establish first what to be sold, who are the target customers, how to market, what means of promotions to be used for broadcasting products and services, financial cost and benefits analysis, and so on. Those who are unsuccessful to assign the top cause for failure to inadequate business planning and lack of appropriate marketing.

            It should be kept in mind that customers on the web have greater access to choose moving from one shop to another may be a matter of seconds. While products are being sold on the net and offer lower prices than the traditional market outlet, customers buy from websites, (Web Shops) that render better services. From the customer service followed by no credit card acceptance, non-acceptance of payment through bank account, inadequate goods return policy, and so on.

            Thus, to be successful in the sphere of E-Commerce every company has to be competitive in terms of costs as well as in the provision of customized services.

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