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Information technology vs industrial cluster formation - Essay Example
Finance & Accounting
Pages 8 (2008 words)
Information Technology VS Industrial Cluster Formation XYZ Corporation July, 27, 2011 CONTENTS Contents Page Number Background and Introduction 3 Discussion 4 Conclusion 10 Information Technology vs Industrial Clusters Background and Introduction: Information Technology (IT) has been an important force transforming human life on planet earth…
The very meaning of markets and boundaries defining the markets and business domains have undergone a complete change because of the internet and fostering technological change that it brought in its wake. While corporate business world has taken full advantage of the internet, it has still I the early phases of realizing full support and potential of the internet. IT speculators suggested huge benefits from the internet which meant relocation and complete physical freedom from the customers, competitors and physical boundaries of the market which earlier defined the very limits of any industry. By early twentieth century, the markets were tended to be defined at local level, at city level and at the national levels. There was little mention of the international or global markets. This was because of limited progress achieved in the means of communications and transportations. Most markets were considered as physical definitions or definitions in terms of physical presence of the buyers and sellers. Each place where buyers and sellers could be physically present were defined as local markets. Where ever the buyers and sellers could gather together from a national scale were the national markets. ...
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