EFFECTS OF COMPUTING ON TRADE

Effects of Computing On Trade

Abstract

For many people in modern society, the greatest impact of computing technology has been in the workplace. As technological innovation produces computing equipment that is faster, more powerful, and less expensive than its predecessors, there is an increasing impetus toward using computer systems in an enormously wide variety of work environments. In the office, typewriters have been almost entirely replaced by word processing systems or workstations. On the shop floor, technology has led to the development of significantly more sophisticated tools, such as computer-aided design and computer-aided manufacturing systems. Computers have made their mark even in the all sort of industries.. This paper discusses the history of computing in trade starting from 18th century when no computing was used. The first computer used in business was Leo which was invented in 1951. This paper provide information on how it was invented and for what purposes it was used in business and how trade improved after that.

Effects of Computing On Trade

Introduction

When the digital computer was invented as a mathematical instrument in the 1940s, it could not have been foreseen that this new artifact would ever be of a certain importance in the business world. About 50 firms entered the computer business worldwide in the late 1940s and the early 1950s, and the computer was reconstructed to be a type of electronic data-processing machine that took the place of punched-card technology as well as other office machine technology. It is interesting to consider that there were mainly three types of companies building computers in the 1950s and 1960s: newly created computer firms (such as the company founded by the ENIAC inventors Eckert and Mauchly), electronics and control equipments firms (such as RCA and General Electric), and office appliance companies (such as Burroughs and NCR). Despite the fact that the first digital computers were put on the market by a German and a British company, U.S. firms dominated the world market from the 1950s onward, as these firms had the biggest market as well as financial support from the government.

Computers are electronic devices that process and store information at fast speeds. The advanced technology produced by scientists and inventors during the twentieth century, especially during the two world wars, required the computation of scientific data faster than ever before.

Discussion

Ever since the introduction of microcomputers in the late 1970s, computers have become more and more a part of everyday life. Computers are integral to communications, government, the military, medicine, and most businesses. When you visit the bank, you are likely to use an automatic teller machine. If your job once required a typewriter, the odds are good that you now use a word processor. When you make an airline reservation, request a telephone number from directory assistance, or even order a meal in a fast-food restaurant, a computer system is likely to be centrally involved, even if consumers are not always conscious of that fact. (Zhu, 2006)

Effects of Computing On Trade

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