Information about IT World and Business
Technology has become a crucial element of the global business. Every business utilizes IT tools and software to manage their business. These software and programs help businesses cut down on their operational expenses by automatizing specific tasks. They also assist them to improve the security of their data and information. Moreover, these programs help companies to save money they would otherwise use for hiring additional employees. These companies can invest the money they would have spent on hiring additional employees in other areas, like marketing, cyber security and employee rejuvenation programs.
As digital technologies disintermediate various processes within MNEs and transform MNEs’ roles to provide value to their customers by shifting costs and activities from themselves to consumers, complementors and partners at home and abroad, the role of IT is changing rapidly. This creates new opportunities and challenges. The challenges include rapid erosion of MNEs’ competitive advantage and the emergence of new threats. The opportunities include broader access to markets, greater market influence, and faster innovation.
In the past, IT and business have had a negative relationship. Each group blamed the other when projects did not succeed. The complexity and cost of IT projects made this situation even more difficult. Even with a contract to ensure that the company understood the services IT was providing, it was hard to predict exactly what could be wrong. In addition, the requirements often changed during development. The solution to this problem was to create a brand new kind of collaboration between business and IT: the term “partnership.” This partnership is based upon the principle that both parties must be prepared for failure.
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