COLLEGE OF BUSINESS AND ECONOMICS

DEPARTMENT OF MANAGEMENT

COURSE TITLE:

COURSE CODE:

GROUP ASSIGNMENT: GROUP FOUR

PROJECT TITLE: APPLICATION OF COMPUTER IN BUSINESS

GROUP MEMBERS ID NUMBER

1. ABRHAM SHIFERAW 1500680

2. SELAMAWIT NIGUSSIE 1500784

3. SINTAYEHU WENDAFREW 1500787

4. SOLONIA BEKELE 1500790

5. YONAS NIGATU 1500815

6. ZEBENE BEKELE 1500818

SUMMITTED TO:

SUBMISSION DATE
Acknowledgement
Table of Content
 APPLICATION OF COMPUTER IN BUSINESS

Introduction
In the ever-evolving landscape of the modern business world, the role of computers has
become increasingly vital and pervasive. Computers have revolutionized the way
organizations operate, communicate, and make decisions, fundamentally transforming the
landscape of the corporate realm. From improving productivity and enhancing data
management to enabling digital presence and strengthening cybersecurity, the application
of computers in business has become an indispensable aspect of success and
competitiveness.

The integration of computers into various business functions has had a profound impact,
leading to significant improvements in efficiency, data-driven decision-making, and overall
organizational performance. Businesses that have embraced the power of computer
technology have gained a distinct advantage in navigating the complex and rapidly changing
business environment.

This paper aims to explore the multifaceted applications of computers in the business
domain, highlighting the key areas where their integration has been transformative. By
delving into the various ways in which computers have reshaped business operations,
communication, and strategic decision-making, this study will provide a comprehensive
understanding of the pivotal role that computer technology plays in driving business success
and sustainability.

From streamlining administrative tasks and enhancing data analytics to facilitating remote
work and bolstering cybersecurity measures, the applications of computers in business are
vast and far-reaching. This introduction sets the stage for a comprehensive exploration of
these advancements, equipping readers with the knowledge to understand and harness the
power of computer technology in their own business endeavors. in today's modern world,
computers have become an indispensable part of our lives. From personal use to business
operations, computers have revolutionized the way we live, work, and communicate. The
application of computers spans across various sectors and industries, playing a crucial role in
enhancing efficiency, accuracy, and productivity. Communication and Connectivity:
Computers have transformed the way we communicate with each other. With the internet,
emails, instant messaging, and social media platforms, computers enable us to connect with
people around the globe in real-time. Communication has become faster, more accessible,
and efficient, bridging the gap between individuals and businesses across continents.

Education and Research: Computers have revolutionized the education system, making
learning more interactive, engaging, and accessible. From online courses and e-learning
platforms to digital libraries and research databases, computers have opened up a world of
knowledge for students and researchers. They provide tools for simulations, data analysis,
and collaboration, enhancing the learning experience and pushing the boundaries of
research.

Business and Industry: Computers have become the backbone of modern businesses and
industries. They streamline operations, automate tasks, and provide accurate data analysis,
enabling companies to make informed decisions. From managing inventories and finances
to facilitating online transactions and marketing strategies, computers have transformed the
way businesses operate, increasing efficiency and profitability.

Healthcare and Medicine: Computers have revolutionized the healthcare industry,

improving patient care, diagnosis, and treatment. Electronic health records, medical imaging
technologies, and computer-assisted surgeries have enhanced accuracy, reduced errors, and
saved lives. Computers also play a crucial role in medical research, drug development, and
analyzing vast amounts of patient data, leading to advancements in medical science.

Entertainment and Media: Computers have transformed the entertainment and media
industry, offering immersive experiences and endless possibilities. From video games and
virtual reality to streaming platforms and digital content creation, computers have opened
up new avenues for creativity and entertainment. They enable the production, editing, and
distribution of music, movies, and multimedia content, reaching global audiences.

The application of computers is vast and ever-expanding, shaping every aspect of our lives.
From communication and education to business and healthcare, computers have
revolutionized industries, making tasks more efficient, accurate, and accessible. As
technology continues to evolve, the application of computers will continue to grow, bringing
new advancements and opportunities for individuals and businesses alike.

Business objective and information technology

In the realm of business, the application of computers and information technology has
become essential for achieving various objectives and staying competitive in today's rapidly
evolving market. Here are some key business objectives and how information technology
supports their realization:

Enhancing Operational Efficiency: One of the primary goals of businesses is to optimize their
operations and processes for improved efficiency. Information technology plays a pivotal
role in achieving this objective by automating repetitive tasks, streamlining workflows, and
integrating systems. Through the use of computers, businesses can implement enterprise
resource planning (ERP) systems, customer relationship management (CRM) software, and
other tools to manage resources, track inventory, and enhance productivity.

Improving Decision Making: Informed decision making is crucial for the success of any
business. Computers and information technology provide the necessary tools to collect,
process, and analyze vast amounts of data. Through data analytics and business intelligence
software, businesses can gain valuable insights, identify trends, and make data-driven
decisions. This enables them to adapt quickly to market changes, identify opportunities, and
stay ahead of the competition.

Increasing Customer Satisfaction: Meeting customer expectations and delivering

exceptional experiences is a key objective for businesses. Computers and information
technology enable businesses to better understand their customers, personalize
interactions, and provide efficient customer service. Customer relationship management
systems, online support platforms, and e-commerce websites facilitate seamless
interactions, enabling businesses to build strong customer relationships and enhance
satisfaction.
 Expanding Market Reach: Computers and information technology have expanded the
potential market reach for businesses. Through the internet and digital marketing strategies,
businesses can reach a global audience, irrespective of geographical boundaries. E-
commerce platforms allow businesses to sell products and services online, reaching
customers beyond their physical locations. Social media and digital advertising enable
businesses to engage with potential customers and build brand awareness on a large scale.

Ensuring Data Security and Privacy: With the increasing dependence on computers and
digital systems, ensuring data security and privacy has become a critical objective for
businesses. Information technology provides solutions such as encryption, firewalls, and
secure networks to protect sensitive business and customer data. Compliance with data
protection regulations and implementing robust cybersecurity measures are vital to
maintaining trust and safeguarding confidential information.

Facilitating Innovation and Adaptability: Businesses must continuously innovate and adapt
to stay relevant in a dynamic market. Computers and information technology enable
businesses to explore new ideas, develop innovative products and services, and swiftly
adapt to changing market conditions. Collaboration tools, cloud computing, and agile
project management methodologies support efficient teamwork, rapid prototyping, and
iterative development processes.

In summary, the application of computers and information technology in business is

essential for achieving various objectives such as enhancing operational efficiency,
improving decision making, increasing customer satisfaction, expanding market reach,
ensuring data security, and facilitating innovation. Embracing technology and leveraging its
capabilities is crucial for businesses to thrive in today's digital era.

Business Benefits of Information Technology

The integration of information technology and computers into business operations offers
numerous benefits that directly impact the success and growth of organizations. Here are
some key business benefits of information technology in the application of computers:

Increased Efficiency and Productivity: Information technology streamlines business

processes, automates tasks, and eliminates manual work, resulting in increased efficiency
and productivity. Computers enable employees to perform tasks more quickly, accurately,
and with minimal errors. The use of software applications, project management tools, and
collaboration platforms enhances teamwork, communication, and overall productivity.

Improved Decision Making: Information technology provides businesses with access to

accurate and real-time data, enabling informed decision making. Through data analysis and
reporting tools, businesses can gain valuable insights into market trends, customer
behavior, and operational performance. This empowers decision-makers to make strategic
choices, optimize resource allocation, and respond promptly to changing market conditions.

Enhanced Customer Service: Information technology enables businesses to deliver

exceptional customer service experiences. Customer relationship management (CRM)
systems help manage customer interactions, track preferences, and personalize
communication. Additionally, customer support tools, such as live chat and helpdesk
software, enable businesses to provide timely assistance and resolve issues promptly,
leading to increased customer satisfaction and loyalty.

Expanded Market Reach: Computers and information technology have broadened the
market reach for businesses. Through e-commerce platforms, businesses can sell products
and services globally, reaching a wider customer base. Digital marketing tools, such as
search engine optimization (SEO), social media marketing, and targeted advertising, enable
businesses to reach their target audience effectively and generate leads, resulting in
business growth and increased revenue.

Improved Inventory and Supply Chain Management: Information technology facilitates

efficient inventory and supply chain management. Computerized inventory systems enable
businesses to accurately track stock levels, manage reorder points, and optimize inventory
turnover. Supply chain management software allows businesses to monitor and manage the
movement of goods, streamline logistics, and reduce costs associated with inventory
management.

Enhanced Data Security and Risk Management: Information technology provides businesses
with robust data security measures and risk management strategies. Through encryption,
firewalls, access controls, and data backup systems, businesses can protect sensitive
information from unauthorized access, breaches, and data loss. Additionally, business
continuity planning and disaster recovery solutions help minimize the impact of potential
disruptions and ensure operational resilience.

Facilitated Innovation and Competitive Advantage: Information technology fosters

innovation and provides a competitive edge for businesses. Computers enable businesses to
explore new ideas, develop innovative products and services, and stay ahead of
competitors. Cloud computing, big data analytics, and emerging technologies such as
artificial intelligence (AI) and machine learning (ML) offer opportunities for businesses to
leverage data and technology to drive innovation, create new revenue streams, and gain a
competitive advantage.

In summary, the application of computers and information technology in business provides

significant benefits, including increased efficiency and productivity, improved decision
making, enhanced customer service, expanded market reach, improved inventory and
supply chain management

Managerial application of information technology

Information technology (IT) has various managerial applications in businesses, including:

Strategic Planning: IT helps managers in developing strategic plans by providing access to

market research, competitive analysis, and industry trends. Managers can use IT tools to
analyze data, forecast future trends, and make informed decisions about the direction of
the business.
 Decision Making: IT provides managers with real-time data and analytics to support
decision-making processes. Managers can use business intelligence tools, dashboards, and
reporting systems to analyze information quickly and make data-driven decisions.
Resource Allocation: IT helps managers allocate resources effectively by providing tools for
tracking budgets, monitoring expenses, and optimizing resource utilization. Project
management software, financial management tools, and resource planning systems assist
managers in allocating resources efficiently.

Performance Monitoring: IT enables managers to monitor the performance of employees,

teams, projects, and business operations. Performance management software, key
performance indicators (KPIs), and dashboard reporting tools help managers track progress,
identify areas for improvement, and measure success.

Communication and Collaboration: IT facilitates communication and collaboration among

team members, departments, and stakeholders. Managers can use communication tools
like email, instant messaging, video conferencing, and collaboration platforms to coordinate
activities, share information, and foster teamwork.

Risk Management: IT supports managers in identifying and managing risks by providing risk
assessment tools, security measures, and compliance monitoring systems. Managers can
use IT solutions to assess risks, implement controls, and mitigate potential threats to the
business.

Customer Relationship Management (CRM): IT helps managers build and maintain

relationships with customers by providing CRM systems for managing customer
interactions, tracking sales leads, and analyzing customer data. CRM software enables
managers to improve customer satisfaction, retention, and loyalty.

Supply Chain Management: IT assists managers in optimizing supply chain operations by

providing supply chain management software, inventory tracking systems, and logistics
solutions. Managers can use IT tools to streamline supply chain processes, reduce costs, and
improve efficiency.

Overall, IT plays a crucial role in managerial decision-making, planning, communication,

performance monitoring, risk management, and resource allocation in businesses.
 conclusion
the managerial application of information technology in businesses is essential for achieving
business objectives and reaping the benefits of IT. Information technology enables
managers to make informed decisions, allocate resources effectively, monitor performance,
communicate and collaborate efficiently, manage risks, and enhance customer
relationships. By leveraging IT tools and systems, businesses can streamline operations,
drive innovation, improve productivity, and gain a competitive edge in the market.

the potential of IT in achieving strategic goals. Managers need to ensure that IT investments
are aligned with the overall business strategy to drive growth, profitability, and
sustainability. By integrating IT into business processes and decision-making, organizations
can leverage technology to optimize operations, enhance customer experiences, and
innovate in their respective industries.

The business benefits of information technology in the application of computers in

businesses are manifold. IT enables businesses to automate tasks, improve efficiency,
reduce costs, increase productivity, and enhance decision-making processes. By leveraging
computer systems, businesses can streamline operations, access real-time data and
analytics, improve communication and collaboration, and gain a competitive advantage in
the digital age.

Overall, the strategic use of information technology in businesses not only enhances
managerial capabilities but also drives business growth and success. By embracing IT as a
strategic enabler, businesses can transform their operations, unlock new opportunities, and
stay ahead in an increasingly digital and competitive business environment.