Information Technology and Explosive Change

How has IT changed the way companies do business? List at least 2 ways Introduction Today, one may not be challenged for arguing that business is technology and information technology is business. This is because of the immense contribution that information technology plays in the running of businesses and how integral information technology has become in the operation of businesses across the globe. The National Institute of Health (2011) has explained that technology is a body of knowledge used to create tools, develop skills, and extract or collect materials. Technology could be said to have changed the way companies do business in two major ways.Innovation in ProductionOver the years, the level of innovation that technology has brought in the running of companies is unprecedented. Unlike before when the use of technology was confined to some few business set ups, today, information technology is in use in almost every company to bring about swift changes in the way companies go about their everyday activities – thus innovation. With technological innovations, information technology tools are today at the hem of affairs instead of manual application of human strength and knowledge. Such innovations have brought about speed in the delivery of work, thereby making companies have higher outputs. This means that efficiency generally go up with innovations because many people have the tools to design new and innovative software to solve common problems and improve efficiency (Global Guru, 2009).Scope of ReachAs information technology enhances and increases rate of production with innovative ways of getting production implemented, information technology again plays an important role of ensuring that products and services reach as many customers as possible. In times past, people living in one country barely had an idea about the kind of business that went on in other countries. Today, companies with just one branch in one country can boast of global customer base because of the power of information technology. Via the internet, companies of all kind – including individual freelancers make thousands of dollars a month because of the expanded reach of customer base that information technology offers them.ConclusionTo conclude, all companies who have not fully come to embrace the miracle of technology are advised to do so. Research among companies on how best they can utilize technology should not stop so that they will not lug behind in the new global trend.REFERENCE LISTGlobal Guru (2009). 5 Ways Technology Has Changed the Way We Do Business. Retrieved October 31, 2011 from Institute of Health (2011). Using Technology to Study Cellular and Molecular Biology. Retrieved October 31, 2011 from