Role of Information Technology in the Global Market


By

Dr. Gurendra Nath Bhardwaj
Lecturer
Amity Business School
Amity University Uttar Pradesh
Noida

Dr. Amit Kumar Dwivedi
Lecturer
Amity Business School
Amity University Rajasthan
 


As a human being, we all think about our development. As we plan for our development we also have to decide our working area, or the most possible / approachable area. Every one likes to cover bigger area as much as he can cover. Initially we had a small area of operation in each segment of life. But as the technology developed, we become part of global market and now we are able to cope with the market development at large.

Information technology has made a tremendous development in respect of our approach at a mass level. It opens the door of several avenues as well as has brought in several threats, which should be analyzed carefully. Due to development in technology, the information can be transferred from one place to another in very short span of time, earlier which required lot of time.  Transfer of large information and storing capacity for a long period also has some draw backs, inherent in the process itself. For example manipulation of message is very easy and it requires small level of technical literacy. It is also observed that master in a subject may not be many times able to express his views effectively as compared to a person having less knowledge of subject but more computer literacy, who can make better presentations. Here the knowledge part of the core subject has been compromised with proficiency with technology. .

Now, to teach one subject several teaching methodologies are available. One has to apply one or two out of them, which suits him most. If one institute has less number of such teaching technologies it cannot make its place in the market even if it is very sincere and dedicated for providing a quality education to the students. Here it leads to pomp and show than the development of value-based teaching.

It is true that the development of information technology made available number of resources but it also lead duplicacy as well as piracy. In spite of reading articles or gathering information from different sources for qualitative research useful for the society, one would like to cut and paste information and other relevant matter for his advantage, which discourage the habit of reading, being creative and utilizing brain storming exercises.

Whole economy of the world is vary much dependent upon the technological advancement. This increased competition in each segment of the market. One very important aspect is that now people are buying consumer durables not once only but majority of them are replacing the existing product within very short span of time. Such type of changes in consumer taste can be seen in the Television, Air conditioner, washing machines, automobiles, mobile industries etc. It leads to the product out of market with in very short period of time, and it also increases consumerism. Which ultimately decrease the saving and investment habit of an individual.

This drastic change in the technology has negative impact on society also. Now the theft, piracy, robbery and other type of hi-tech crimes have grown up very fast. These crimes are committed by young professional generation because they need handsome money through the application of such technical advanced skills. This shows negative picture of current education system and also of educated class. It demoralizes the young generation.

Today's generation is very much choosy than earlier and the reason is that they have more alternatives in their hands. Certainly, it creates more avenues and dynamism but it also hampers the mental stability. Today's young generation wants to earn money by hook or crook. It is immaterial for them, how they earn money. The most important thing for them is only how much money they have. It reduces the quality of life, which generates the stress, social unrest and mental tension and ultimately no peace in the life. They are trying to stretch the period of twenty-four hours of a day in more and more productive hour at the cost of their health. Which has disturbed their natural system of digestion and standard level of health? To improve the health and physical fitness they need a sophisticated & hygienic environment and medical physician and surgeon.

Lack of required number of people of desired qualification and skill is also a big problem. Due to fast change in the information technology, several technical qualifications have also become out of date with in very short period of time.

The technological development especially in information sector requires a large amount of capital investment, sophisticated environment and increase in dynamic risk. Dynamic risk means possibility of loss due to change in environmental factors. First it requires investment in its installation, maintenance and then in its replacement. It involves cost of equipment, which is of capital nature as well as remuneration paid to personnel involved at each stage i.e. revenue expenditure. Capital expenditure requires its absorption during fixed period of time through depreciation. Like wise the revenue expenditure also involves some of cost of capital, which is made available through own or borrowed sources of owner. The depreciation and all the revenue expenditure form part of the annual income statements. Above cost factors play a very crucial role in the adoption of new technology.

Last but not least the tendency to adopt new technology is a very typical psychological tension of mind. With a great pressure one become ready to adopt new technology if he has no choice, otherwise the general tendency is to cope with the old technology or work with old technology for which people are habitual. So, the adoption of new technology is also difficult.

All in all, the development of new information technology should be welcomed because it is the need of the hour. And all of us should prepare ourselves to make it easier for us and should use it in ethical ways then only we would be able to survive in the global market.

References:

1. Economic Times (News Paper)
2. Business Standard (News Paper)
3. Financial Express (News Paper)
4. Business Economy (Magazine)
5. Amity Business Review (Magazine)
 


Dr. Gurendra Nath Bhardwaj
Lecturer
Amity Business School
Amity University Uttar Pradesh
Noida

Dr. Amit Kumar Dwivedi
Lecturer
Amity Business School
Amity University Rajasthan
 

Source: E-mail June 11, 2008

           

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