How is Information Technology affecting finance and global competition?
348462
It's enabling companies focus on their key competencies and compete better because IT provides solution to help streamline repetitive and backoffice tasks while aiding in the companies' decision-making processes.
1078466
In one word, I think 'reality' would be the main reason.\n\nAs the fervour grew in the late 90's for tech stocks, everyone believed that the 'new paradigm' for business would change everything. Market share was more important than profits ... eyeballs more important than income ... making a huge loss was ok if there were profits forecasted for the future ... any business doing anything online was 'exciting' ... etc etc.\n\nThen reality started to dawn on investors, venture capitalists, business owners and managers that the old ways of business needed to apply to the web. The internet was and is not immune. \n\nHuge speculation is just that. Huge speculation. The massive market valuations were based on many strange ideas and the companies could not operate in the way that the market needed - profitably.\n\nI believe that reality arrived.
564089
Since you are into Yahoo! Answers already, you have a pretty good handle on your own answer.  With the Internet, you have instant access and open communication with the deposit of human knowledge worldwide.\n\nOffice Word especially gives the resource for any type of writing from notes to letters to term papers and theses.  I use Quicken for managing every type of finance from checking accounts to the stock market.  Access gives us an easy way to handle lists like addresses.\n\nIt is because of the open Internet today, that peace and harmony will happen throughout the world.
672896
The U.S. is in a post-industrial economy, also called the Information Age or Technology Age sometimes.  Look at the richest man in the world and what his company does.  There is Yahoo! and the internet (where we are), etc...  Without technology like computers and internet you wouldn't have been able to ask your question to me and I would have never been able to answer.
1169864
All medium to large organisations depend on Information technology For their continued survival. Consider organisations like British Gas, British Telecom, the Power and Water companies having to manually calculate, millions of customer bills every month or quarter! Clearly the clerical effort involved would make it difficult if not impossible for the organisation to make a profit. Similar arguments apply to many other organisations such as the high street banks, central and local government. A recent article in the Daily Telegraph IT supplement suggested that many large organisations could last no longer than 24 hours without IT support! There should be little wonder that attitudes to the development of information systems have changed over the years from an ad hoc almost cavalier approach to a professionally managed, disciplined, planned, engineering approach.\n\nFor more information on this topic, please go to http://www.comp.glam.ac.uk/pages/staff/tdhutchings/chapter1.html.
596925
I assume you mean communication with the rest of the world? If so, communication is absolutely essential for developing an economy on the global market. These countries have to try to turn a trade deficit into a positive by attempting to export more than they import. Communication is the primary medium that allows this to happen. Internet, telecommunications, etc... Also, tight controls on inflation through currency availability is important. Finally, opening up trade for foreign direct investment will bring in revenue. In every case I have mentioned, communication is the backbone. Communication could not possibly be more important than that!
648384
Information technology (IT) or Information and communication(s) technology (ICT) (also Infocomm, esp. in Asia) is a broad subject concerned with technology and other aspects of managing and processing information, especially in large organizations.\n\nIn particular, IT deals with the use of electronic computers and computer software to convert, store, protect, process, transmit, and retrieve information. For that reason, computer professionals are often called IT specialists, and the division of a company or university that deals with software technology is often called the IT department. Other names for the latter are information services (IS) or management information services (MIS), managed service providers (MSP).
1353
It's here, whether we like it or not!!\n\nRead Friedman's The World Is Flat: A Brief History of the Twenty-first Century.\n\nIt's about outsourcing.\n\nWhat Friedman means by "flat" is "connected": the lowering of trade and political barriers and the exponential technical advances of the digital revolution have made it possible to do business, or almost anything else, instantaneously with billions of other people across the planet.\n\nGlobalization 3.0, as he calls it, is driven by individuals: desktop freelancers and innovative startups all over the world (but especially in India and China) who can compete--and win--not just for low-wage manufacturing and information labor but, increasingly, for the highest-end research and design work as well.\n\nVery interesting book...
708577
A website, like any marketing communication tool, is as good as the people managing the content. Perhaps instead you should ask what key opportunities or threats face banking today, then address the content issue for banking websites.\n\nSeveral things come to mind: primarily rising interest rates, the "to bubble or not to bubble" housing market, user interface technology, website redesigns, etc.
181905
Mostly by enabling organization to keep up with the competition. Rarely these days does a IT system give a organization a competitive advantage, but the lack of a decent IT system can be a severe disadvantage. Example: there was a time when a company having an inventory tracking system enabled them to make JIT (just in time) deliveries much more accurately than their competition. Now without the ability, they will be eliminated by the customer as a vendor.\nSo to clarify, IT systems don't bring in income, but enable a company to do so.
1015450
I.T = Information technology. Thats if youre talking about the Tech definition of it.\n\nIts basically information related to technology such as the internet, computers, etc. It also concentrates on the managing of how technology processes information. \n\nWhen it comes to IT in companies, we are the ones that manage the processes of information related to computers and computer engineering.
163765
why productivity is not directly correlated with IT investment
1156227
Great career choice both in the industry and the academia. Definitely more creative than finance or even IT (except when you are creating the next Google). \n\nThe con is that marketing types are more likely to be laid-off in a downturn since marketing spend is still treated discretionary in many companies dominated by engineers or the finance types. \n\nHowever the paid-search phenomenon is changing that perception and making marketing more measurable and accountable, so future of marketing looks bright.
1168836
Theory of competitive advantage
998028
Finance is the key to getting the top jobs, and advancing within them.  More CEOs come out of Finance than any other background.\n\nAccounting is tactical - you figure out what's in the numbers.  Finance is strategic - you plan how to grow the numbers.  Firms therefore put higher value on Finance.\n\nInfo Systems is a good field, but not if you want to get into Finance or Business Consulting.  The demand will be there in ten years, but lots of jobs here are moving to India and China - limiting opportunities in the US/Singapore/other wealthy nations.  Plus you'd have a tough time breaking into banking or business consulting if you're experience is only in Info Systems, and very few CEOs come out of IT.
249648
There's a few ways:\n\nCost reduction.  Transaction processing is much faster, less paper is used (ideally), etc.\n\nLocking in customers/suppliers.  The new modes of communication can be used to strengthen relations between a company and other parties.\n\nProduct/service differentiation.  IT can be used to help differentiate products from those of other companies, or even help develop new products.\n\nThese are just a few vague ones that I hope help get you started :)
464594
1. Globalisation. \n   \nNo longer can management think in the box. Focus is on the world much more than localities.\n\n2. Information Superhighway.\n\nThe World Wide Web has changed the way we market. Various options will need to be looked at before money is committed to any form of marketting.\n\n3. Delivery\n\nShipping used to be easy. With the world as your market, logistics have to be in place to meet these needs.\n\n4. International Laws\n\nThe boderless world however necessitates that we know and appreciate international laws which can affect us.\n\n5. Foreign Currency.\n\nHedging, Conversions, exchange rates etc all these are key to operating in the changing world .