The Future of IT World and Business

Information about IT World and Business

Technology is now an integral part of business globally. Every business utilizes IT tools and software to run their business. These softwares and programs help 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 companies save money that they would normally spend on hiring more employees. They can put this money into other areas, such as marketing, better cybersecurity and employee re-emergency programs.

As digital technologies disintermediate various processes within MNEs and reposition MNEs to deliver value to customers by shifting costs and activities from themselves to complementors, consumers and partners at home and around the world, the role of IT is rapidly changing. This trend creates new challenges as well as opportunities. The challenges include the rapid reduction of MNEs’ competitive advantages and new sources of risk. The opportunities include greater market influence, broader market access, and a knockout post quicker innovation.

Historically, the relationship between IT and business was antagonistic. Each group blamed the other when projects didn’t succeed. The complexity and cost of IT projects made this problem even worse. Even with a contract to ensure that the company understood the IT provided it was hard to know what could be wrong. The requirements were also constantly changing during development. The solution to this chasm was to create a brand new form of collaboration between business and IT, the term “partnership.” This partnership is based on the principle that both parties must be prepared for failure.