SALISU RAMAT UMAR
MIM/EDU/9113/2009/2010
COURSE: LIBS 883 ONLINE INFORMATION INDUSTRY
Information and Communication once carried on by small enterprises which lived in an atmosphere of craft rather than industrial production is today an important industry which bulks large in the economy of any nation, in terms of plant, employment and requirements for capital. This holds true in countries with market or centrally-planned economies, and whether the economy as whole is a big or a small one.
The information industry today is in the early stages momentous transformation. Historically industry has been organized on the basis of information form; companies within the industry tended to focus on business opportunities related to a single form of information, these includes, Voice, Text, Image Audio/Video or Data.
The article also strengthens that information-intensive approaches will replace physical assets and physical actions as well some selected areas such as Education, Health Care and entertainment. The dream of a convergent information industry is straightforward and unparalleled the creation of a national eventually global electronic communications network that directly links individuals and different organizations to everyone else.
Even though, an Information industries have traditionally been defined in terms of the form of information, for two most important reasons. Firstly, the essential technologies for handling each type of information have been greatly varied in the past, and each technology could not handle other sorts of information. Secondly, the government has actively constrained many information-based companies from entering other types of information businesses. All information companies now harness essentially the same technologies; and these technologies are rapidly becoming multimedia.
Therefore, the underlying logic by which companies participate in the information industry must reflect this new reality. With the rapidity of technological change in the information industry, the importance of research and development has never been greater. Technological breakthroughs will be crucial both the basic as well as the applied levels.
In terms of competitions globally, the information industry will require access to some considerable amount of capital. Obtaining it will require tapping global capital markets as well as sources such as the World Bank and so on. Companies must invest in upgrading and maintaining their human capital, also all companies in the industry must keep a focus on the customer’s customer that is the ultimate end user. Neglecting such a discipline, product-development efforts will surely fail. Therefore, end users provide the volume and velocity needed achieved required price/performance ratios.
CRITICS
If individuals are to play their part as responsible citizens in the community at the local, national and even international level they must be adequately informed, possessing sufficient facts on which to base rational judgments and select courses of action. A full understanding of the events and issues which affect individuals can be attained only by the simultaneous supply of a variety, even controversial if necessary, of background data, information and facts through an accessible means.
The information-based businesses are becoming increasingly crucial to our commercial and social lives, insufficiencies in the information market place are becoming less tolerable and according to the article, the contemporary information industry is characterize by; significant waste of economic and ecological resources, inadequate matching of information content with the needs of the recipients, Severe Time and place constraints on information access and availability, Cumbersome and expensive physical infrastructures for information distribution and Inefficient information distribution.
The article physically encourages cost effectiveness and capitalism as well, the convergence and globalization promotes capitalism and support capitalist ideology by in information and communication industry.
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