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Literature Review Of Information Communication Technology (ICT

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2. Literature Review Below is an overview of Information Communication Technology (ICT) The background and objectives of this study were outlined in chapter one, inclusive of research questions and research significance of the study. However, this chapter intends to present literature reviews, knowledge and other information relevant to the theme of this study. Therefore, this chapter focuses on reviewing the evolution and definition of information, communications and technology (ICT), e-business, e-commerce and marketing in social media.The ability of small and medium-scale business operators to respond rapidly and appropriately to the environmental challenges depends largely on the information systemsmanagement to reflect hopes, dreams and …show more content…

At early stages, the Information Technology was the single most dominant notion in terms of economic development and growth. However, despite the fact that IT expansion created significant economic opportunities, keeping it as discrete sector was not in economic terms wise and as such, emerged the significance of increasing communication technologies as well as information processing technologies – a shift from IT to ICT. Following was the intense placement of large volumes of investment to entice and stimulate all possible means of ICT infrastructure and development. Today, the result is clear, ICT shapes every aspect of our lives and is paradoxically taking on a hitherto unseen dimensions whereby communication technologies are becoming forces of social change – bringing the virtual and physical worlds more closer than ever before in a more dynamic fashion. Considering the rapid evolution of ICT and government policies and strategies in place, the future of ICT is promising at large in every imaginable sector and …show more content…

For small and medium sized enterprises, ICT can be exploited to create a list of contacts and to make use of available information to start and sustain new business ventures. For example, Moyi (2003:222) and Shiel et al. (2003:312) express that ICTs have the potential to link small sellers and buyers to the daily market prices of commodities in different places, giving them the ability to improve their negotiating power. Cohen and Kallirroi (2006:45) agree that information and communication technologies can radically change the competitiveness of organizations, and note how electronic commerce has reduced the cost of trading among companies and also helped to strengthen their relationships and

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