The Impact Of Information Technology On Business - 1304 Words

The Impact of Information Technology on Business Ye Jin MIST 501 New York Institute of Technology Abstract Information, material and energy are the three major resources of human social development. The industrial revolution made people a great success in exploring and using of both material and energy resources. With the rapid development of modern information technology represented by computer technology, communication technology and network technology, the society is moving from the industrial era to the information age. The scientific and technological revolution, which is based on the digitization and network as the main features. It has a huge and profound influence on the production economy, the way of thinking, the way of†¦show more content†¦Also, the competitive advantage of business strategy can be simply described as something you can do but the competitors can’t. In international market, information technology has become a key component of enterprise operation. The relationship between business and consumers is more closer, so information collec tion and analysis plays a crucial role (Kangas, 2003). More and more enterprises use information technology in the market to establish uniqueness, explore potential business opportunities and establish an differentiation strategy, from price, product innovation, customer service, market positioning, etc. so that enterprises can quickly and effectively collect and process market data information and quickly meet the different needs of different niche markets to gain market advantages. The information system can help enterprises build their brand image to enhance their competitive advantage. For example, at the beginning of this year, Walmart developed new features on its mobile app to help customers avoid line traffic when they go shopping, which takes aim at Target and Amazon’s weakness (Gustafson, 2017). The first one makes consumers to refill and manage the prescriptions through their mobile devices so that to avoid the line at the pharmacy counter. The second one is Walmart makes customers use the money transferringShow MoreRelatedInformation Technology And Its Impact On Business1757 Words   |  8 PagesInformation technology is a broad field concerning with all aspect of acquisition, manipulating or processing, dissipation and the general management of information normally within large organizations or companies. Additionally, it is not associated with the personal or home application of computers and networking. In other words, information technology can be defined as the use of technology involving the development maintenance and use of computers and software for the purpose of processing andRead MoreThe Impact Of Information Technology On Business1370 Words   |  6 PagesChapter 1. 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