Information about IT World and Business
Technology is now an integral element of global business. Every business utilizes IT tools and software for their operations. These programs and software aid companies to cut operational costs by automating some of their tasks. They also assist in improving the security and confidentiality of their data. Additionally, these programs aid businesses save money they could otherwise invest in recruiting new employees. They can then put this money into other areas, such as marketing, better security of their cyberspace, and employee development programs.
As digital technologies disintermediate many processes within MNEs and shift MNEs’ focus to provide value to customers by shifting costs and functions from themselves to complementors, consumers and partners both at home and abroad, the role of IT is evolving rapidly. This trend is bringing new challenges and opportunities. The risks include the an erosion of MNEs’ competitive advantage and the emergence of new risks. The opportunities include greater market influence, better market access and faster innovation.
In the past, IT and business have been in a conflict. When projects failed, both sides blamed the other. This was made more difficult by the nature of IT projects that were both complex and expensive to create. Even with a contract to ensure that the company understood the IT offered, it was difficult to know what could be wrong. Moreover, the requirements often changed during development. The solution to this chasm was to establish a new anonymous kind of collaboration between business and IT: it’s called a «partnership.» This partnership is based on the idea that both parties must be prepared for failure.