Running Head: RESEARCH PAPER SUMMARY 1

Research Paper Summary

Name:

Institutional Affiliation:
RESEARCH PAPER SUMMARY 2

TITLE: ADVANCING GLOBAL ECONOMY THROUGH INFORMATION TECHNOLOGY

ABSTRACT

Information technology plays a critical role in improving the performance of businesses (Tam,

1998). It enables businesses to position themselves in the global market and gain potential

customers across the world, which greatly increases their income sales. It allows businesses to

access international markets easily. Information technology enables businesses to improve their

productivity, which allows them to remain competitive in the global market. It also enables

employees to increase their efficiency. Through information technology, employees can easily

access project guidelines, timelines, and progress (National Research Council (U.S.), 1998). This

enables them to plan accordingly and deliver their work on time with minimal errors. Besides,

information technology enables managers to plan effectively through analytical tools, which

enables them to disregard irrelevant and costly production factors. Information technology

allows businesses to implement the analytical tools to understand the preferences of their

customers and determine the most efficient delivery channels for their products or services. This

enables them to gain and retain a wide customer base across the globe. Information technology

also enables businesses to interconnect with other businesses globally to establish efficient and

cost-effective supply chains (Ran, 2013). The supply chains enable businesses to greatly lower

their product or service production costs while increasing their consumer value and profit

margins (Tam, 1998). Besides, Information technology allows businesses to access platforms

that facilitate customer interaction and facilitate faster product or service delivery channels that

enable them to increase their consumer value.

RESEARCH PAPER SUMMARY 3

REFERENCES

National Research Council (U.S.), N., 1998. Fostering Research On The Economic And Social

Impacts Of Information Technology. Washington: National Academies Press.

Ran, B. (2013). Global perspectives on technological innovation. Charlotte, N.C.: Information

Age Pub.

Tam, K., 1998. The Impact of Information Technology Investments on Firm Performance and

Evaluation: Evidence from Newly Industrialized Economies. Information Systems Research,

9(1), pp.85-98.