The Role of ICT in International Business
By Fathi Al-Riyami
The International Telecommunications Union (ITU) claims the total number of people connected to the Internet worldwide is surpassed 2.7 billion in 2013, while the total number of applications downloaded over all types of devices exceeded 50 billion. Emerging markets stand to gain from innovative and disruptive information and communication technologies (ICT). Valerie D’Costa, a program manager with World Bank says “developing countries’ roles in the digital world have been mostly limited to users and consumers, not producers. But today, a growing mesh of digital services is giving rise to a new layer of entrepreneurial opportunities with very low entry barriers”.
Organizations use websites to compete in the global market as a means to provide information about their products or services. In addition, merging ICTs such as virtual environments, social media and other online tools allows companies to communicate, display and promote their products and services to customers in real time through customized designs and platforms. With the use of innovative and disruptive technologies it is possible to reach out to different demographics through the use of trendy platforms and media. Such advanced setup can facilitate connections between businesses and new markets.
Businesses that rely on information, exposure and international trade stand to gain from ICT through increased customer interaction, clients receiving better product knowledge, increased sales, better customer service, reduced costs, and increased productivity. These are just some of the vast benefits they stand to gain as small business, large corporations and governments use technology to achieve various goals. Having the ability to empower the potential client by carefully crafting a creative process through the use of technology can provide beneficial opportunities of engagement within the international market. To do this effectively and in a manner that offers a simplified and humanized end-user experience is both a science and an art.
Reflection Point: In the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later. ~ Harold S. Geneen