GLOBALIZATION AND ICTs

Globalization and the Diffusion of ICTs

Globalization and the diffusion of ICTs

Introduction

Information and communication technology is the system used for monitoring, management, processing and creation of information through telecommunications and computers (otherwise known as ICT) (Stiglitz 2003 54). Although information and communication technology describes a wide range of systems there are still some emphasizing commonalities?

The information system includes a group of people, equipment and procedures. It was there to collect, record, process, store, retrieve and present information (Kennedy 1994 121).

The importance of ICT for business continuity in many places of business is of paramount importance, and the next number of ways in which ICT can improve the efficiency of your company (Gilpin 2002 260);

> Increased Efficiency: If programmed correctly, computers can monitor the data collection processes very efficiently, whilst also checking for human errors and providing help and guidance to the user. Most large scale organisations are using computer-assisted interviewing as standard in many of their surveys simply because of the remarkable achievements good data collection programs can make to reduce human error and speed processing in the collection of important information (Gilpin 2002 260).

> Speed and Processing Power: Modern computers are fast. They are able to complete tasks 100's of times faster then we would be able to. Most computers are now so powerful, that computer users rarely come even close to utilising their full potential (Gilpin 2002 260).

> Cost Containment: ICT technology is an expensive thing to incorporate within your business however it will eventually create substantial cost savings through less time being wasted on laborious tasks and on recuperating human error (Gilpin 2002 260).

> Versatility: As computers become more powerful and efficient, you are able to make them do more varied and creative tasks. The average PC can already perform most multimedia functions such as reproducing photographic pictures as sharp as any film. The advantages can range from being able to create advertisements for your company to monitoring stock controls (Friedman 2000 178).

> Departmental co-operation: With open and shared databases, it enables a company to remove barriers between departments giving staff more accurate information and greater competency to serve customers (Giddens 1998 49-510).

> Manage better: It enables you to spend more time where it counts, managing and co-ordinating jobs rather than manually creating files or ordering. EPOS ordering systems being an example of this, as a product is purchased an order is placed for more stock (Friedman 2000 118).

> Commerce opportunities: ICT can improve a company's internal and external operations. Internally, a company can use ICT to streamline, integrate and synchronise key operating processes, (such as procurement, order fulfilment and customer service) (Berners 2002 289-290). Then it can extend these ICT enabled processes to improve the efficiency and effectiveness of supply and distribution channels.

> Content opportunities: Benefits are achieved when a company harnesses information and knowledge located inside and outside the company to improve the performance of individuals and groups as they make decisions and take ...