Information Challenge of Doing Business in Global Conditions

Abstract

In the face of the globalization of the economy, society relies on previously built sources of information, which are disseminated through the latest communication and information transfer technology. So, in the conditions of contemporary globalization, in the first place comes the new competitive factor - information. One of the indispensable conditions for the development of economic relations is the recognition of all market participants, because unpredictable situations can lead to serious economic consequences. It should be noted that the distribution of information among participants in the economy practically always carries an unequal character. The availability of scarce information offers significant competitive advantage that provides additional chances in the fight for competition. So, they represent an economic resource used in the production of goods, services, offer, demand, and the formation of the basic productive forces that are essential for doing business in contemporary conditions.

Keywords: Information, data, cybernetics, knowledge, goods, services, IT etc.

DOI: 10.7176/JLPG/120-12

Publication date: April 30^th 2022