In the last couple of decades, there’s been a revolution in computing and communications, and all signs are that technological advancement and usage of information technology will continue at a fast pace. By Moore’s law, the processing power of microchips is doubling every 18 months. These improvements present many major opportunities but also pose big challenges. Choices made today will have long-lasting effects, and attention has to be paid to their social and financial consequences.
The consequences of information technology and electronic commerce on business models, trade, market construction, office, labor market, education, personal life, and culture as a whole.
1. Business Models, Commerce, and Market Structure
One significant way in which information technology is impacting work is by lessening the significance of space. In most businesses, the geographical distribution of work is changing appreciably. For example, some software companies have discovered they can conquer the tight neighborhood marketplace for software engineers by sending jobs to India or other countries where the salaries are much lower. Additional such arrangements can make the most of the time gaps so that crucial jobs may be worked on almost round the clock. Businesses can outsource their production to other countries and rely on telecommunications to maintain a marketing, R&D, and supply groups in touch with all the production groups. Hence the technology can allow a finer division of labor among nations, which subsequently impacts the relative demand for a variety of skills in every single nation.
Computers and communication technologies also encourage more market-like kinds of distribution and production. An infrastructure of computing and communication technology, supplying 24-hour access at a reduced cost to virtually any sort of cost and product information needed by buyers, will reduce the informational obstacles to efficient market performance. This infrastructure may also offer the means for Commodities real-time trades and create intermediaries such as sales clerks, stock agents, and travel agents, whose role is to provide a vital information connection between sellers and buyers, redundant. Elimination of intermediaries would reduce the prices from the creation and supply value chain.
2. Workplace and Labour Market
Computers and communication technologies make it possible for people to communicate with each other in a way complementary to conventional facial, telephonic, and written modes. They empower collaborative work between dispersed communities of celebrities who rarely, if ever, meet physically. These technologies use communication infrastructures that are both worldwide and constantly up, thus enabling 24-hour actions and asynchronous in addition to synchronous interactions among people, groups, and associations. Social interaction in organizations will be impacted by the utilization of computers and communication technologies. Peer-to-peer relations across section lines will be improved through sharing of information and coordination of activities.
The significance of space will be reduced by computers and communication technology favors telecommuting, and so, has consequences for the house patterns of their taxpayers. As employees discover they can perform nearly all of their work in the home instead of at a centralized office, the demand for houses in climatically and physically appealing areas would grow. The results of such a change in employment in the suburbs to more distant areas are deep. Property values would climb from the favored destinations and autumn at the suburbs. Rural, historic, or magical facets of the environment in the recently attractive regions would be jeopardized. Because most telecommuters one of better educated and higher paid, the requirement in these places for high-rise and high-status services such as gourmet restaurants and clothes boutiques would grow.
Advances in information technology can influence the craft of instruction by complementing instead of eliminating conventional classroom education. Really the successful instructor behaves in a combination of functions. In 1 function the teacher is a provider of solutions to the pupils, who may be considered its clients. Nevertheless, the successful teacher occupies another function too, as a manager of students, plays a part in motivating, supporting, assessing, and growing pupils. For almost any subject there’ll always be a small fraction of pupils with the required background, inspiration, and self-discipline to understand from self-paced workbooks or computer-aided instruction. For nearly all pupils, but the existence of a live teacher will continue to become a lot more powerful than a computer-aided counterpart at facilitating positive educational results. The best possibility of new information technology is present in enhancing the productivity of time spent beyond the classroom. Making alternatives to problem sets and assigned reading materials that can be found on the Internet delivers a great deal of convenience. E-mail vastly simplifies communication between faculty and students and among students who might be engaged in-class projects. Advances in information technology can influence the craft of instruction by complementing instead of removing conventional classroom education.
Although distance education has been around for a while, the Internet makes possible a sizable expansion in policy and greater delivery of education. Text can be used with video/audio, and students may interact in real-time through email and conversation groups. Such technological improvements coincide with an overall requirement for retraining by people who, because of family and work needs, can’t attend conventional courses. Distance learning through the Internet is very likely to match present schools for kids and college students, but it may have more of a substitution effect for continuing education programs. For some level programs, high-prestige institutions may use their standing to draw students who’d otherwise attend a neighborhood center.