Impact of Information Technology on Business Growth: A Conceptual Review

Abstract

Information Technology (IT) in recent times has become a veritable tool for business development in particular and the Bern of economic growth in general. It assists business to penetrate new market for being innovative for generating new products to enhance business growth and development. The revolution of information and communication technology (ICT) facilitates the outstanding performance of the economy in business sector, through the exchanges of information by using internet and electronic devices to facilitate accessibility of doing business between companies globally. This study analyzes the impact of IT on business in the economy, using a conceptual review approach. Necessary concepts associated with the topic have been reviewed. Sixteen empirical literatures were brought into focus and requisite gaps established. Findings from the study reveal that, the impact of ICT therefor is germane to the growth of business. It is therefore recommended that…Information technology should be seen as veritable tools that enhance business growth, government arms must simplify the cost of acquisition and usage of all the ICT infrastructures, more areas of research highlighted in the paper must be considered by intending researchers who wish to add to the already existed body of knowledge.