Information Technology and the Digital Economy

Abstract

Information technology and digital economy present new opportunities for all sectors of the economy. Today, economy is undergoing fundamental changes as a result of the rapid development of information technology and its use is also very fast. Especially the dynamics of the development of informatics and its products and business development opportunities based on the use of Internet technology have enabled the growth of the role and importance of using information technology in business processes in terms of the new economy or digital economy. The world economy has changed due to the great development and application of this technology. Enterprises are forced to survive in a modern economy where the global market is characterized by competition, diversity of products and services and short cycle life of the product. In terms of the digital economy, information technology creates opportunities for specialization and cooperation between companies from different regions by reducing transaction costs, creating ease of access to foreign markets and facilitating the development of new models of electronic business. The purpose of this paper is to present the importance of information technology in economy, computerization trends and the opportunities offered by this technology where consumers have quick and easy access on the global market, as well as in information about goods and services. In the condition of digital economy the usage of information technology provide businesess with new opportunities to access global markets and also develop business activities on-line. The full realization of these potentials is essential for new enterprises and companies which can compete and create competitive advantage globaly.

DOI: 10.5901/mjss.2015.v6n6p78