ICT in Business

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Week10:ICT in Business

Subject Code: COMP131By: Marlon Jamera

Email: [email protected]

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IcebreakerBrain Teasers

• Teaser 1

• Read out loud the text inside the triangle.

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• Teaser 1

• More than likely you said, “A bird in the

bush”

• Did you see that the word THE is repeated

twice?

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• Teaser 2

• What do you see?

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• Teaser 2

• In black you can read the word GOOD, in

white the word EVIL. (inside each black

letter is a white letter).

• It’s all very physiological too, because it

visualizes the concept that good can’t exist

without evil (or absence of good is evil)

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• Teaser 3

• Now, what do you see?

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• Teaser 3

• You may not see at first, but the white

spaces read the word OPTICAL, the blue

landscape reads the word ILLUSION.

• Look again! Can you see why this painting

is called an optical illusion?

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• Teaser 4

• What do you see here?

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• Teaser 4

• This one is quite tricky!

• The word TEACH reflects as LEARN.

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• Teaser 5

• What do you see?

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• Teaser 5

• You probably read the word ME in brown,

but…..

• When you look through ME you will see

YOU.

• Do you need to look again?

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Impact of ICT in Business

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Scope of the Lesson

• Impact of ICT in Business

• ICT’s Impact on Business Operation

• ICT Basics

• Role of ICT in Business

• Competitive Advantage of ICT

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Learning OutcomesBy the end of the lesson, you will be

familiar with the impact of Information Communications Technology in Business.

• Define and explain perception of the ICT basics.

• Identify and compare the dynamics of the role of ICT in business.

• Describe the features and the aim of the competitive advantage of ICT.

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ICT’s Impact on Business Operation

• Information Technology is everywhere in business.

• Anyone involved in business must understand technology.

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• Accounting: provides quantitative information about the finances of the business including recording, measuring and describing financial information.

• Finance: deals with the strategic financial issues associated with increasing the value of the business, while observing applicable laws and social responsibility.

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• Human Resources: includes the policies, plans and procedures for the effective management of employees.

• Sales: the function of selling a good or services and focuses on increasing customer sales, which increases company revenues.

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ICT Basics

• Information Technology: is the totality of means employed to systematically correct, process, store, present, and share information, in the support of human intellectual activities.

• Information Technology is also known as Information and Communications Technology (ICT).

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ICT Basics

• Technology plays a vital role in the business world.

• It provides the tool and functions on which almost all companies throughout the world run.

• With the advent of new technologies, the use of computers and internet has increase.

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ICT Basics

• History: before the development of modern technology, there was the trade and barter system.

• Advances led to a skeleton of what we know as business today.

• People handled every aspect of running a business, even the responsibility of making machines work manually.

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ICT Basics

• Significance: technology and business are practically inseparable today.

• Without technology and computers, the routine business would be severely slowed.

• Benefits: Business has become so entrenched with technology because of the benefits that technology provides. E.g: It decreases the time it takes to perform a task, ability to take multiple tasks at one and low acquisition costs.

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ICT Basics

• Opportunities: the use of technology in business has created opportunity for more technological advances.

• Many business functions are able to operate autonomously with the use of technology.

• This has led to the need for software development companies and business consultants domestically.

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ICT Basics

• Considerations: while there are innumerable benefits of using technology in business, there are some downsides.

• According to United Nations University, it has led to increased dependency.

• According to the small business bible, it has also led to a decline in the skill level end user.

• It has eventual reduction of incomes.

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Role of ICT in Business

• Information Technology has become a vital and integral part of every business plan. From multi-national corporations who maintain mainframe systems and databases to small businesses that own a single computer, IT plays a role.

• The reasons for the omnipresent use of computer technology in business are the following:

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• Communication: for many companies, email is the principal means of communication between employees, suppliers and customers.

• Over the years, a number of other communications tool have also developed like live chat systems, online meeting tools and even video conferencing systems.

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• Inventory Management: inventory management systems track the quantity of each item a company maintains, triggering an order of additional stock when the quantities fall below a pre-determined amount.

• Data Management: companies are able to store and maintain tremendous amount of historical data economically, and employees benefit from immediate access to the documents they need.

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• Management Information System (MIS): enable companies to track sales data, expenses and productivity levels.

• Managers can track sales on a daily basis, allowing them to immediately react to lower-than-expected numbers by boosting employee productivity or reducing the cost of an item.

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• Customer Relationship Management (CRM): systems capture interaction a company has with a customer, so that a more enriching experience is possible.

• It helps to improve the way they design and manage customer relationships.

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• The other role of IT in terms of productivity:

• Productivity

• Speed of Processing

• Online Storage

• Replacing Human Labor

• Scalability

• Advertising

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Competitive Advantage of ICT

• A fundamental change is happening in companies competition due to change in global business’ environment.

• Development in Banking Sector: have speed up communication and transaction to client.

• Economy of Production: the emergence of IT sets another trends.

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Competitive Advantage of ICT

• Fundamental Requirement: Competitive advantages for an organization if it is survive in long term.

• IT has been perceived: it means to provide more efficient process that would led to lower costs.

• Widespread Impact: increasing new technology continues to progressively penetrate into core business.

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Let’s call it a day,Thank you!

ICT in Business

Internet

Transcript of ICT in Business