Telecommunication and Its Effect on Business Activity Essay

In Singapore, the development of telecommunication is the core of the development of the business. This is the one thing that connected the unconnected parts of Singapore. As the country is full of islands and for business connecting it was important, the country tried to include each and every part of Singapore to build the business infrastructure.

At present Singapore is an international hub for telecommunication. For students studying business and management courses, knowledge of telecommunication is necessary. As this is a significant part of the business activity, its role is very important to assess. The students should know their role and importance in business.

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Telecommunication and its effect on business activity

Telecommunication is an important part of any country and its infrastructure. Its high growth it’s critical for the economic activities in the country. It is the electronic media which transfer the information through technology. The technological instruments involve are telephone, radio, internet, etc. It also counts when it comes to the standard of living of people.

As an infrastructure, it is the base for business activities. The business depends on communication and telecommunication made it easier. Especially the financial, banking and tourism industry solely depends on the advantage of telecommunication.

Singapore had formed the National computer Board and issued the National Information Technology Plan to boost multimedia services. Singapore in the world is known as an intelligent Island. The government also opened Singtel a telecommunication industry that demonstrated high-quality telecommunication services and attracted overseas companies for the business. Singapore government also owns Radio and television stations. The government also banned private ownership of the satellite dishes.

There are also underwater cables for a telephone that go to other countries like, Malaysia, Indonesia, and the Philippines. The communication network through these companies and infrastructure development with 99 percent connectivity made Singapore a business hub. The availability of broadband internet everywhere in Singapore gave it an added advantage for the business. It made it easier to swap the data at the far distances

Impact of the telecommunication industry on Business activities

It had become now a vital part of the civilization and plays a most resourceful element for the development of the business. As distance is always a constraint in any business, telecommunication decreases the distance by enabling the business parties to communicate in real-time. This enabled the business to run smoothly and negotiations could happen from the distances itself. With the revolution in this sector, even the gap between rich and poor decreased as it equipped people with access to information equally.

Through these business activities became easier and the access to information of the markets added to its convenience. As there are changing political, social and economic scenarios in the global world and Singapore an open economy, the effect in any trading partner country impacts the business in the country. Through telecommunication and internet, it became easier to predict and know the business cycles so the appropriate measures to curb the impact of negative cycles can be made possible,

With the increasing competition in providing real-time service, the telecommunication had expanded the horizons of every business. Now every technology which is needed in the business is being developed and used. Most of the conferences and business meetings happen through the internet nowadays so the decision making in business is possible sooner than in the past. However the technology doesn’t restrain itself from the business people but it had reached the consumers also, Every household in Singapore has at least one phone which enables the communication between a producer and consumer.

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For consumers, the knowledge of different products is readily available through the internet and this thing empowers the consumer for making its choice to pay the most worthy product. Over time Singapore had become the hub of electronic products and a mirror of technological advancement. The technology had injected immense potential to the business in Singapore. The trade with other countries had increased after the introduction of the internet and now also continuously adding to the revenue of the country.

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