Issues and Challenges in Information Technology Adoption and Societal Development

Information technology is currently taking center stage. The enormous advantages it has in easing the delivery of information around the world, means that information technology will shape the dynamics of the new millennium. Determining the impact of information technology ("IT") on organizational structure and outcome has become a crucial task for organization and society. With the speed of communications and the pace of business constantly on the increase. The main objective of this paper is to discuss the new challenges that directors, auditors, investors, and regulators face in adapting and using IT to enhance standards of corporate governance and fulfilling the requirements of Corporate Social Responsibility. The paper also provides a brief summary of the basic changes brought about by IT in the areas of data storage and management, the processing of information, and information dissemination. it will then go on to discuss and highlight how these changes can impact different organization and stake holders, investors, and regulators in their respective corporate social responsibility functions and point out some specific areas of potential development of IT. It also discusses the impact of information technology on society.