About IT World and Business
Technology has become a major part of business globally. Every business employs various IT tools and software to run their business. These programs and software aid businesses to reduce cost of operations by automating certain of their tasks. They also help businesses enhance the security of their data and information. These programs can also help businesses save money that they would have spent on hiring additional staff. They can invest the money in other areas like marketing, better security of their cyberspace, and employee development programs.
The role of IT in the future will rapidly change as digital technologies decentralize many processes within MNEs. They also shift their focus to provide value to their customers by shifting the costs and activities away from them and towards partners, complementors and consumers both at home and abroad. This trend creates new challenges and opportunities. The challenges include the rapid decline of MNEs’ competitive advantages and new sources of risk. The opportunities include greater market influence, greater market access, and more rapid technological advancement.
In the past, IT and business have been in a conflict. Each side blamed the other when projects did not succeed. This was exacerbated by the nature of IT projects which were complex and expensive to develop. Even with a contract ensuring that the business was aware of the IT provided, it was difficult to know what could be wrong. Furthermore, the requirements often changed during the development process. This gap could be plugged by establishing a new kind of collaboration between IT and business that is a partnership.
