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This essay discusses the strategic role of Information Technology in business management and its global implication. This essay further discusses evolution of business and information technology systems. Use of the internet has helped business to make a strong impact on the globe. Information technology has changed the global organizational structures. Information technology helps achieve the organizational goals and objectives in different ways. The discussion elaborates upon the uses of Information Technology in different management functions. Technology effects an organization’s productivity, cost-effectiveness and ability to influence the society. To discuss the effect of technology on business, let us first discuss the evolution of businesses and management systems. In ancient times, the business involved more face-to-face conversations. The societies were small; people knew each other and exchanged goods and services. The type of business was bartering. Then currencies came and the function of businesses changed. The businesses were not the exchange of goods, but about buying and selling of goods and services. A major development occurred with the industrial revolution, which brought in mass production and mass marketing. This brought in the demand for specialized and skilled people. All these developments progressively changed the organizational structures and functions (Levine, Locke, Searls and Weinberger, 2000). In the recent times we have seen the technology advancing at a faster pace. For instance, it required 50 years to commercialize telephones but it only took five years (Amor, 2002) for the internet to be common. There were few multi-national companies prior to the advent of internet. The internet has provided younger companies to do e-business and grow globally. It took many years for the companies, such as GE (founded in 1892, with its market value of 389 in 1999), IBM (founded in 1911, with its market value of 223 in 1999), Wal-Mart (founded in 1969, with its market value of 211) to reach their present positions. On the other hand, the relatively young companies using e-business, either reached or surpass the old blue chip companies. For example, Microsoft (founded in 1981, with a market value of 483), Lucent (founded in 1995, with a market value of 202) and Cisco (founded in 1984, with a market value of 220). In 1995, the number of public internet companies was four; in 2000 the number was 162.
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