*IMPACT OF INFORMATION TECHNOLOGY IN BUSINESS COMMUNI*CATION We are in the midst of a third major revolution in human civilization. First there was the Agricultural Revolution, then the Industrial Revolution, and now we are in the Information Revolution. Information and communication technology and a world wide system of information exchange has been building growth for over a hundred years and physical technology and industry is not slowing down in growth - rather it is accelerating. Information technology (IT) is playing a crucial role in contemporary society. It has transformed the whole world into a global village with a global economy, which is increasingly dependant on the creative management and distribution of information.
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Feedback Customers can now communicate with product and service providers through the Internet. This has the advantage of more efficient order processing but can also facilitate feedback. Telephony Sometimes, businesses need to make conference calls bringing several people together and technology can help here too. Programs such as Skype or Gizmo Project offer Voice over Internet Protocol (VoIP) services that allow individuals and businesses to call places all over the world for prices much cheaper then regular landline services.
Microsoft pointed out that a Forrester study done in 2006 showed that 17 percent of businesses made converting to VoIP a priority, with another 18 percent already using VoIP to some degree. VoIP allows businesses to be in near-constant communication with employees and others at a fraction of a cost. Online Media Sites such as Youtube see millions of hits a day, with online video and audio becoming extremely prevalent on websites. Businesses can capitalize by making their own media. Companies can create in-house advertisements for use on websites, webinars on the use of products that can further communicate between businesses and their consumers, and provide education. These forms of media are also available nearly 24 hours a day, so think of them as day-long commercials for your business. Social Media With the rise of social networks such as Facebook, Myspace, Digg and others, a form of