Information Technology Changing the Global Economy
Today,
part of the global economy grows as the information technology,
changing the economy landscape. Professor Uday Karmarkar from UCLA
Anderson School of Management describes the rise of service industrialization below.
This
is happening because of the advent of information technologies and the
surge of new technologies made it possible. This is also termed as
globalization of the economy, or even techno-globalism. The phenomenon
is evident in most industry, especially the financial market. As a
result, this increased the cooperation between and inter-linkages among
organization to lead innovative work for the research & development,
servicing and production spreading around the globe
The
advent of computer-based information technologies, especially on the
emphasis upon process, system and code has enabled business models and
processes to perceive that they, too, function as forms or subsets of
Information Technology (IT). Today, everyone has begun to write computer
programs to aid their business processes, even small medium businesses.
This is also part of reengineering the business process, for example
from a brick and mortar operation to a click and mortar.
IT is the area of managing technology and spans a wide variety of areas that include computer software,information systems ,computer hardware, programming languages
but are not limited to things such as processes, and data constructs.
In short, anything that renders data, information or perceived knowledge
in any visual format whatsoever, via any multimedia distribution
mechanism, is considered part of the IT domain. IT provides businesses
with four sets of core services to help execute the business strategy:
business process automation, providing information, connecting with
customers, and productivity tools.
IT professionals perform a variety of functions (IT Disciplines/Competencies) that ranges from installing applications to designing complex computer networks and information databases. A few of the duties that IT professionals perform may include data management, networking, engineering computer hardware,
database and software design, as well as management and administration
of entire systems. Information technology is starting to spread further
than the conventional personal computer
and network technologies, and more into integrations of other
technologies such as the use of cell phones, televisions, automobiles,
and more, which is increasing the demand for such jobs.
In the recent past, the Accreditation Board for Engineering and Technology and the Association for Computing Machinery have collaborated to form accreditation and curriculum standards for degrees in Information Technology as a distinct field of study as compared to Computer Science and Information Systems today. SIGITE (Special Interest Group for IT Education) is the ACM working group for defining these standards. The Worldwide IT services revenue totaled $763 billion in 2009.
