CHANGES IN TECHNOLOGY
The way business is conducted today differs completely from the way it was done decades ago. This has been brought about by the incredible changes that have occurred in communication and information technology. The world has been transformed into a global village. Movement of information from place to place is getting faster and faster each day.
In each passing decade, our society has been changed by technology tremendously. Each new technology improves the way we handle transactions and makes communication quick and cheaper. Enormous amount of information can be accessed and moved with much easy. Nowadays paper technology is being replaced quickly with most of the transactions being done through machines to save money and time, at the same time provide exceptional services. In the business arena, transactions over the internet have resulted into “electronic commerce”. It is a very efficient way of communication. Electronic commerce has caught the attention of everybody including governments and individuals.
The Internet began when governments put together efforts to enable speedy communications by researchers who where undertaking various national security projects all over the world. Up to date, the volume of Internet servers has been on a constant increase after each six months. Research has shown that 1 in every 11 individuals are active online. The internet is perhaps one of the places where an individual can get almost any kind of information as well as get an excellent tool to use in communication quickly. It is evident that the future of communications technology and business commerce lies in the Internet. Another name for the internet is the Word Wide Web (WWW). However, “The Web" is much like graphical hyperlink based webs or "pages".
Paper and ink technology is the oldest and fairly familiar. It starts in a very earlier age in everyone’s life. We learn how to read and/or write at a tender age. We expect that whoever we may want to communicate to can only be able to communicate back with special equipment. Paper documents are sufficiently permanent and durable for their purposes, even though it is understood that they may get damaged or destroyed. For security purposes, information on paper has been safeguarded by signatures for a long time now. In order to verify the authenticity of the information on a piece of paper, we identify the difference or similarity between an original signature and a copy of the same signed document. However, that is becoming much difficult to differentiate with reproduction technology. We usually rely on our own ability to identify people’s signature and differentiate them from those of other people, yet we are sure a signature can be forged. This is the major downside of using paper to communicate important information.
Effects and impacts of communication technology on businesses
One of the forefront users of technology has been the business world for a...