Sep 19 2008
Role of Information Technology in Growth of Business
Role of Information Technology in Growth of Business
Information technology (IT) refers to the management and use of information using computer-based tools. It includes acquiring, processing, storing, and distributing information. Most commonly it is a term used to refer to business applications of computer technology, rather than scientific applications. The term is used broadly in business to refer to anything that ties into the use of computers. Mostly businesses today create data that can be stored and processed on computers. In some cases the data must be input to computers using devices such as keyboards and scanners. In other cases the data might be created electronically and automatically stored in computers. Small businesses generally need to purchase software packages, and may need to contract with IT businesses that provide services such as hosting, marketing web sites and maintaining networks. However, larger companies can consider having their own IT staffs to develop software, and otherwise handle IT needs in-house. For instance, businesses working with the federal government are likely to need to comply with requirements relating to making information accessible. The constant upgrade in information technology, along with increasing global competition, is adding difficulty and hesitation of several orders of scale to the business and trade. One of the most widely discussed areas in recent business literature is that of new organizational network structures that hold survival and growth in an environment of growing complexity. Effective implementation of information technology would decrease liability by reducing the cost of expected failures and increase flexibility by reducing the cost of adjustment. The businesses reaction to the environment remains to be the vital determinant for its effectiveness. The capabilities and flexibilities of computer-communication systems make them gradually more appropriate to businesses by being able to respond to any specific information or communication requirement. Information Technology is having impact on all trade industries and businesses, in service as well as in manufacturing. It is affecting workers at all levels of organizations, from the executives to middle management and clerks. Information technology is increasingly becoming a basic factor of all types of technologies such as craft, engineering, routine, and non-routine. The advances in Information Technology would result in remarkable decline in the costs of synchronization that would lead to new, concentrated business structures. It enables the business to respond to the new and urgent competitive forces by providing effective management of interdependence. In the near future businesses would be facing a lack and a redundancy of information called information glut. To solve the information-glut companies will need to introduce methods for selective thinning out of information. Improvements in telecommunications will make it easier to control business units dispersed over different parts of the world. Advances in telecommunications, would result in increased distance-communication. Indirect communication would be preferred for well-structured information for routine, preprogrammed and decision processes.
William King is the director of <a href=http://www.wholesalepages.co.uk> UK Wholesale Suppliers</a>, <a href=http://www.dailytrader.com> Wholesale Suppliers </a>, <a href=http://www.aidandtrade.com> Dropshipping Directory</a>, and <a href=http://www.zameen.com> Pakistan Property Portal </a>. He has 18 years of experience in the marketing and trading industries and has been helping retailers and startups with their product sourcing, promotion, marketing and supply chain requirements.
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The Government's Role in Promoting Logistics Services in China
China has joined the World Trade Organization (WTO) and become the world s third largest trading nation, behind the United States and Germany. Multinationals now consider using China sourcing in international trade to be essential, if they are to remain competitive, and companies like Wal-Mart have adopted China sourcing in a big way.
Rapid economic progress and booming internal and international trade in China have been putting pressure on the country s fragmented transportation networks and logistics systems.
China s Traditional Logistics Problems
Transportation costs are almost three times as high in China as compared to the United States. The country spent 21.3 percent of GDP on logistics in 2004, compared to 8 to 9 percent for most countries.
China has an unfriendly geography that includes major mountain ranges, extreme altitudes, permafrost, deserts and seasonal flooding, which hamper the development of an integrated, countrywide logistics industry, and so hamper international trade.
In addition, local governments in China erect regulatory barriers, including fees, inspections and licensing requirements, to protect local transportation companies. Toll charges are very high, and very few licenses have been issued for countrywide transportation operations, which makes China sourcing difficult.
Due to this, multinational companies that are keen on China sourcing, and want to move goods across the country, prefer to rely on third party logistics providers.
China has a history of state ownership in the logistics sector, and this has resulted in management and infrastructure ill-suited to international trade and sourcing. In addition, the infrastructure has been designed to move bulk commodities, rather than sensitive or perishable goods.
Luckily, the government expects that high levels of foreign competition, and demand for China sourcing, will raise standards in the industry, and promote international trade.
A New Dawn for China Sourcing: Improved Logistics for International Trade
Due to the boom in international trade, the demand for rail transportation is much higher than supply. The government has planned heavy investments to extend the railway network and to build freeways.
The government has realized that the overall health of the economy is dependant on the country s logistics capabilities, and it has given a high priority to this sector in its current Five Year Plan.
Massive investments are being made to develop the country s logistics capabilities rapidly, to keep pace with the boom in international trade.
The future is looking brighter for businesses wishing to source from China as the country s logistics network transform from that of an insular state into a WTO nation focused on international trade.
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Are You Paying the Prices for Your Subscription Site?
One of the risks acquiring banks perceive with subscription merchant accounts is the risk of hijacking. Hijacking is a common practice is that merchants selling subscription based goods and services use to make it extremely difficult for consumers to cancel the payments. For example, consumers sign up for a monthly service, such as web hosting, dating services, or online magazines. The terms of the service are that the consumer will continue to be billed automatically. That is, if the consumer does not notify the merchant of cancellation the consumer will continue to be billed month after month. Once a consumer decides to cancel, locating the way to cancel on the merchant site may be hard. The cancellation policy is buried somewhere in the fine print on an obscure web page. Once located, the consumer is not able to cancel easily on line The consumer may be forced to cancel by phone or in writing. When calling in to cancel, the consumer is put on hold for long periods of time. If and when the call is ever answered, the consumer may find that the call gets suddenly gets dropped and the consumer has to call back in and begin all over. Or the call may be answered by a foreign call center and the request to cancel is refused. Another ploy is for the call center to offer inducements for the consumer to continue the service. Even if the consumer refuses, the call center indicates approval and the billing cycles continue. Some online services have a long subscription period with no refund policies allowed. Even with a cancellation, the consumer is still forced to forfeit all money for the current billing period. Most subscriptions have relatively low rates in the hopes that a consumer will not pay attention to the small fee the billing statement. If the consumer does decide to cancel, the time to cancel costs more than the bill itself. For example, it may take hours to cancel a $10 per month recurring charge. The frustration level of cancellation is so high, the consumer gives up trying.
Chris Miller is an expert in the payment processing industry and specializes in high risk and international merchant accounts. Website:http://www.merchantaccountsoffshore.co.uk/
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