19 Jul Technology
Over the twentieth century, the ability to process information in terms of labor units has improved by a factor in the order of 1 to 5 trillion. This improvement represents a compounded growth rate of between 30 to 35 percent per year for a century. At the turn of the twentieth century, the mechanical calculator offered a modest productivity increase but the number of workers required to maintain the accounts of a medium-sized business still remained very high. Many tasks would take a large investment in equipment and a significant number of accountants’ weeks to process. A hundred years later, the same tasks can be completed by a standard desktop computer in minutes. The challenge for management has transitioned from a simple reduction in labor requirements to leveraging the increased processing power to develop competitive, efficient, and profitable organizations.
· Explain how information systems influence businesses to be more competitive, efficient, and profitable.
· Provide at least one example for each factor.
Write a response in 300–500 words according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation
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