The History About Business And It

Published Date: 02 Nov 2017

Definition of business is an organization or economic system where goods and services are exchanged for one another or for money. Every business requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit. Businesses can be privately owned, not-for-profit or state-owned. An example of a corporate business is PepsiCo, while a Nasi Kandar catering business is a private enterprise.

While information technology definition (also referred to as IT) is the application of computers and telecommunications equipment to store, retrieve, transmit and manipulate data, often in the context of a business or other enterprise. But in the business context, the Information Technology Association of America has defined information technology (IT) as "the study, design, development, application, implementation, support or management of computer-based information systems". The business value of information technology is to automate business processes, provide information for decision making, connect business with their customers, and provide productivity tools to increase efficiency.

Now I will story about some history of information technology. Here is some history about information technology; the back-story of information technology precedes the invention of the computer. The abacus, used by Asians, Egyptians, Romans, and the Greek can be termed a source of information technology. Calculators, the first mechanical one built by German polymath Wilhelm Schickard, or the slide rule, developed in 1622 by William Oughtred, also comes under the heading of information technology. Another example would be punch card machines, expanded upon by IBM in the early to mid-1900s, qualifies the term information technology. The basic concept of Information Technology can be traced to the World War II alliance of the military and industry in the development of electronics, computers, and information theory. After the 1940s, the military remained the major source of research and development funding for the expansion of automation to replace manpower with machine power.

After know about their history, this is the objective of business that means the purpose for which the business is established. It is generally believed that the main objective of business is making the profit and the avoid loss. I admit that profit is a driving force in undertaking any business activity but it is not the sole objective of any business. In the words of Urwick "earning of profit cannot be objective of a business any more than eating is the objective of living". A business which is hunting after profits and ignores other objectives will not be doing service to the community. The other business objectives also are a way for an organization to define its goals and direction. A company uses a combined strategy at every level of its operation to achieve its objective. It determines how a company will allocate its resources and what strengths, weaknesses and opportunities it may have. A business objective is usually not altered once implemented, unless changes in circumstances arise; setting a clear course for the organization it key to its success.

While business objectives of information technology (IT) is about drive an organization's success and growth by focusing on improvements in efficiency, productivity, customer relationships, business processes, decision making and collaboration. Together, those business objectives aim to deliver greater value from investments in IT. Here is the some type that must be focus in business and information technology like linkage, value, risk, efficiency, customer service, and collaboration.

1# Linkage, business objectives and IT objectives do not always coincide. Because the links between the two sets of objectives are an area of concern for both IT and business executives. An article in "MIS Quarterly" based these findings on a study of the content of IT and business plans and the degree to which IT and business executives understood each other's plans.

2# Values, when the two sets of objectives are integrated, organizations can derive business value from IT investments to creating value and business effectiveness.

3# Risks, information technology meets the key business objective of reducing risk to the organization. It achieves this by supporting the acquisition, storage and distribution of vast amounts of information. Organizations use information access to make effective business decisions and respond rapidly to any threats. The ability to store and manage information ensures that the organization can comply with regulatory requirements to maintain and secure relevant corporate and personal data.

4# Efficiency, this is about automating important business processes with IT solutions helps organizations meet the business objective of reducing costs through productivity and efficiency gains. Employees reduce the time they take to carry out knowledge-based tasks when they have instant access to information. Giving mobile employees smartphones and other devices makes it easier for colleagues to collaborate with each other and complete strategic projects quickly, regardless of location.

5# Customer Service, information technology helps organizations meet their customer service objectives. A customer experience infrastructure, for example, makes comprehensive information available to all customer-facing staff so that they can deal effectively and efficiently with inquiries. A communications infrastructure enables call center operators to route more complex inquiries to the most suitable specialist in the organization. Lastly is about collaboration, it mean organizations can meet their growth objectives by using information technology to improve collaboration within the organization and, externally, with supply chain members and business partners. Collaboration enables the organization to access additional skills, technologies and resources. It also reduces the time taken to complete strategic projects such as new product development.

Now I will tell about why the an information technology is very important in business, why I told that, this is because there are many businesses which are in need of the software packages for satisfying their operational as well as functional needs. For fulfilling this requirement, these companies sign deals with the software manufacturing companies. Information technology is useful in ensuring the smooth functioning of all the departments in a company such as the human resource department, finance department, manufacturing department and in security related purposes. The companies in the automobile manufacturing sector are able to get rid of any sort of errors or mistakes in the proper functioning of the tools used for designing and manufacturing purposes. Due to the development of the information technology sector, the companies are being able to keep themselves aware of the changes in the global markets. The software applications and the hardware devices are known to be the main elements of the use of information technology. The web browsers, the operating systems, ERP's and special purpose applications are the software which is used in information technology. IT plays an important role in easily solving the mathematical problems and in the project management system. It has a great use in the automated production of sensitive information, automated up gradation of the important business processes and the automated streamlining of the various business processes. It has also played an important role in the areas of communication and automated administration of entire systems.

Simple conclusion of this topic is without information technology any world cannot make progress. At present, with the advancement of technology, there are almost no places where technology has not been used. Its development constantly affects in several activities whether medical and educational activities. Vaccine and drugs are produced more effectively with new medical technology. Instructional technology such as electronic board more involve in education system for improving children learning ability. Moreover, the effect of technology makes a change in business as well as medication and education. It makes many parts of business activities better and more convenient especially in transportation, trading and communication.

Transportation is one of the most important factors for running business. Having good transportation can keep up a good connection with customers; so many businesses tend to use technological advancement to ensure safe, fast and efficient delivery to impress customers, for example In Transit Visibility system. In Transit Visibility (ITV) is the ability to track individual information, status and location of goods from origin to destination. Users will be able to know the location of vehicles and goods by using In Transit visibility tracking, which is available through item level tracking. The item will confirm that the right shipments are delivered to the right destination on time without damage. Beyond the ability of tracking goods, ITV can also help managers to track their drivers. ITV allows companies to determine available time of diver hours. Knowing driver hours is good for considering about having enough drivers for new assignments. Whenever customers receive their goods, it is responsibility of transportation service provider to verify the shipment that was delivered on time and safe.

Business has become indispensable in our lives. Nearly everything an individual does is directly or indirectly related to business. As clearly defined by many of the authors, business is exchange of goods. For example is service for money with a profit motive). Hence most of our wants are satisfied only by business. Of course, there are activities carried on which are non-business kind. For example, a government official or governments body itself, a doctor, a teacher, a police or a house wife. But these activities are supplied with the essential goods and services by business only.

Based on M.J. Jucius and G.R.Terry in their "Introduction to Business" say "what is gained depends on one's objectives, interests and curiosity. Business has the capacity to satisfy almost any ambition one may have. It is extensive, subject to man's manipulation and is made up of many different types of work performed by many different types of people". Economic accords bring nations closer. There may be political differences, but economic transactions do not get influenced by this. It is the foreign trade which earns us the valuable foreign exchange. We apply the technical know-how of the foreign goods to our products; hence we increase the standard of the production of domestic goods. Computerization and modernization of several industries is a result of our economic relationships with the foreign countries. Therefore we can conclude that business influences our lives in every walk.

The improvement in the business is directly related to the urge in people to give the best to the world. The product, we get now has undergone tremendous trials and errors with various technology applied on it. It has come a long way, with consumer satisfaction and profit being the important motives. So, we have to agree that business study has numerous benefits to the society.

Firstly, we can say that one gains an appreciation for the key positions of people in business. When a product is sold, the interests of the consumers or people who buy it finally form the common ingredient of all business. Therefore any product or company cannot be divested of people.

Secondly, the study of business helps us to have its clear picture. A business unit or a concern is not just a mere economic entity which combines different specialized activities under one roof to produce one product.

Similarly, it is not also an evil force which exploits the consumers. An in-depth study of business enables us to know that it is an important institution which has the great responsibility of contributing the maximum to the nation's prosperity.

Thirdly, the business study helps in selecting a career. In the Indian context today, employment in the Government and the public sectors has become very difficult. Study of business and business management assumes great importance, as self-employment and entrepreneurship are the order of the day, especially, in view of India opening up its markets to the world.

To compete with the western capitalists countries, effective and efficient administration of even the smallest industry becomes indispensable. To ensure this, the services of technicians, artists, administrators, financial experts, accountants, engineers, scientists, marketers, legal experts etc., are necessary. So, by ascertaining the avocations available in business, one can select a career. By studying the modern trends in business, an individual will know in what area he can specialize.

Finally, an in-depth study of business helps a businessman to know the market strategies. Before introducing any product to the market, he or she can know whether it is feasible for him to go ahead with the product and whether the product is needed in the market at all. All these will be possible only with the proper study of the business strategies.