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Economic Implications of ICT: Costs, Productivity, and Career Opportunities

This section explores the economic implications of Information and Communication Technology (ICT) in organizations. We discuss the costs associated with implementing and maintaining ICT systems, including initial setup, running costs, and investment in updates. Furthermore, we examine how ICT enhances productivity and profitability by enabling more efficient processes and reducing errors. Lastly, the section highlights emerging career opportunities in the ICT sector, emphasizing the necessity for higher education in top-level positions. Whether you're a business leader or potential ICT professional, understanding these economic factors is crucial.

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Economic Implications of ICT: Costs, Productivity, and Career Opportunities

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  1. Higher Information Systems Economic Implications of ICT

  2. What we will learn. • In this section we have looked at: • Economic Implications of ICT: • Cost of ICT for an Organisation • Effect on Productivity and Profitability • ICT Careers

  3. Economic Implications of ICT Cost of ICT for an Organisation Software and hardware mean the company can become more productive (efficient) and expand its market. This is the main reason for upgrading either of these expensive items. Costs include: Initial Set Up– the cost to install the hardware, software and network as well as training staff. Running costs– the cost of maintaining the system, data connections, consumables paper, ink , electricity, salaries and support staff. Investment costs– renewing hardware software and keeping licences up to date. If companies don’t invest then they will not increase their profitability.

  4. Economic Implications of ICT Effect of ICT on Productivity and Profitability If you increase your productivity – how efficiently you produce your goods (less mistakes spend less money) then you will increase your profitability (how much money you make). Computers have made companies more profitable because they can do more tasks faster than the human equivalent and don’t make as many mistakes.

  5. Economic Implications of ICT ICT Careers ICT has introduced lots of new types of jobs. Most professional level jobs require further or higher education. A degree is needed for top level jobs. • Examples are: • IT Support Specialist • Computer Programmer (Software Engineer) • Web Developer • Systems Analyst • Database Administrator

  6. What we have learned. In this section we have looked at: • In this section we have looked at: • Economic Implications of ICT: • Cost of ICT for an Organisation • Effect on Productivity and Profitability • ICT Careers

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