ABSTRACT

Information technology (IT) has advanced rapidly during the past two decades and has impacted all aspects of our lives. IT, or its extended synonym information and communication technology (ICT),* refers to hardware, software, and telecommunication networks used for collecting, storing, processing, and transmitting information (World Bank 2012). New developments in IT, especially the advent of the Internet, have created significant opportunities for business competitiveness. IT has been recognized as a major enabler of business growth and innovation (Koellinger 2008; OECD 2011).