Communication Technology has affected Business News all-round the globe

One important way in which information technology is affecting work and business around world is by reducing the importance of distance. Bringing latest business news from all around the world at one junction, the geographic distribution of work is changing significantly in many industries. For instance, some software firms have found that they can overcome the rigid local market for software engineers by distributing projects to India or other nations where the earnings are much lower. Furthermore, such arrangements can take benefit of the time differences so that critical projects can be worked on nearly around the clock. Firms can outsource their manufacturing to other nations and rely on world business news to keep marketing, R&D, and distribution teams in close contact with the manufacturing groups. Thus the technology can enable a finer division of labour among countries, which in turn affects the virtual demand for various skills in each nation. The technology enables a variety of work and employment to be decoupled from one another. Firms have greater freedom to locate their economic activities, creating greater competition among regions in infrastructure, labour, capital, and other resource markets. Updated to business news also opens the door for authoritarian arbitrage. Firms can increasingly choose which tax authority and other regulations apply. Computers and communication technologies also promote more market-like forms of production and distribution. An infrastructure of computing and communication technology, providing 24-hour access at low cost to almost any kind of price and product information desired by buyers, will reduce the informational barriers to efficient market operation. This infrastructure might also provide the means for effecting real-time transactions and make mediators such as sales clerks, stock brokers and travel agents, whose function is to offer an essential information linkage between buyers and sellers, unnecessary. [News - World News]Elimination of mediators would reduce the costs in the production and distribution value chain. The information technologies have facilitated the evolution of enhanced mail order retailing, in which goods can be ordered quickly by using telephones or computer networks and then dispatched by suppliers through integrated transport companies that rely extensively on communication technologies in gaining knowledge about latest business news for controlling their operations. Nonphysical goods, such as software, can be shipped electronically, eliminating the entire transport channel. Payments can be done in new ways. The result is disintermediation throughout the distribution channel, with cost reduction, lower end-consumer prices, and higher profit margins. The impact of information technology on the firms' cost structure can be best illustrated on the electronic commerce example. The key areas of cost reduction when carrying out a sale via electronic commerce rather than in a traditional store involve physical establishment, order placement and execution, customer support, staffing, inventory carrying, and distribution.