Definition :
IT (information technology) is a term that encompasses all forms of technology used to create, store, exchange, and use information in its various forms (business data, voice conversations, still images, motion pictures, multimedia presentations, and other forms, including those not yet conceived). It’s a convenient term for including both telephony and computer technology in the same word. It is the technology that is driving what has often been called “the information revolution.”
Introduction:
Over the last two decades, the Internet has delivered tremendous economic and trade benefits. It has driven record increases in productivity, spurred innovation, created new economies, and fueled international trade. In part this is because the Internet makes geographically distant markets easy to reach.
Information technology has impacted the economy in a number of ways. The most noticeable changes involve e-commerce, marketing tactics, facilitation of globalization, job insecurity, and job design. There are variety of concepts pertaining to the changing economy, including downsizing, outsourcing, the use of cookies, the benefits and costs of globalization, and the impact of e-commerce. The last decade has seen incredible changes to the economy due to the World Wide Web. Entrepreneurs have harnessed technology and changed the way we conduct and transact business. Fortunes have been made and lost. Some experienced huge success and became dot-com millionaires or billionaires overnight, while others became dot-bomb failures. Information technology has redefined organizational boundaries. No longer are businesses confined to brick and mortar stores. Transactions such as payments can be conducted over the Internet. Relationships with customers, suppliers, and partners can be strengthened and streamlined. Inventory can be kept electronically. Purchase orders can easily be exchanged among different companies electronically.
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