Information Technology as Factor in Development of Contemporary Business

The purpose of this paper is to examine the information technology as factor in development of contemporary business. In this paper we intend to investigate the role and effect of information technology in the creation and maintenance of sustainable competitive advantages for organizations. Also we will offer basic notions related to information technology and explain the main factors that affect the application of Information Technology. As we know in current market conditions, nearly all business operations are closely related to and depend on the application of Information Technology. Information Technology enables cost reduction, market expansion, increase productivity, enables better communication, improves service and offers great opportunities to find e new business partners. Also we will become familiar with the application of computer networks such as: Internet, Intranet, and Extranet. Using the scientific and professional literature offered from several aspects to this research paper is aimed to proof the role and importance of use an Information Technology in development of contemporary business.