About IT World and Business
Technology has become an essential aspect of the global business. Every business utilizes IT tools and software to manage their business. These programs and applications help companies reduce their operational costs through automation of certain tasks. They also help them to enhance the security of their data and information. These programs also allow businesses to save money that would be employed additional employees. These businesses can invest the money they would have spent on hiring additional employees in other areas, like marketing, cyber security, and employee rejuvenation programs.
The role of IT in the future will change rapidly as digital technology disintermediates a number of processes within MNEs. They also shift their focus in order to bring value to their customers by shifting costs and operations away from themselves, and toward complementors, partners and consumers both at home and overseas. This trend creates new challenges and opportunities. The risks include the rapid erosion of MNEs’ competitive advantage as well as the development of new threats. The opportunities include greater access to markets, greater influence on the market, and faster innovation.
Historically, the relationship between IT and business was adversarial. Each group blamed the other when projects were unsuccessful. The complexity and expense of IT projects made the situation worse. Even with a contract ensuring the business understood the IT offered, it was difficult to predict what could go wrong. Additionally, the requirements frequently changed during development. The solution to this problem was to create a brand new method of collaboration between the business and IT: the term “partnership.” This partnership is based on the principle that both parties must be prepared for failure.