Write the impact of ICT in society in an about 200 words.
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Answer:
The impact of ICT on business is particularly significant. It empowers people to share knowledge and advice instantaneously and set up an online shop or website at a low cost, dramatically lowering the barriers to starting a business. As such, it is an important enabler of change and ICT maturity is closely linked to economic growth.
Advances in technology have always been used by for-profits to increase revenue. However, government bodies and NGOs have struggled to successfully apply them for social good. An emerging type of business, the social business, is bridging the gap between the two.
The social impact of ICT
ICT and the social business
Social businesses are driven by a social cause, but seek financial stability in order to further their impact.
ICT is playing a central role in the emergence and development of social businesses. These companies are driven by a social cause, but seek financial stability through profit making in order to further their impact. This combination is allowing them to effectively utilize technology for good.
The impact of ICT infrastructure on social businesses cannot be understated. It has made social impact affordable, social impact scalable, and enables new ways to connect to and engage with local communities (a key characteristic of the social business).