The Future of IT World and Business

Information about IT World and Business

Technology has become an integral element of the global business. Every business utilizes IT tools and software to carry out their operations. These programs and software help businesses cut their operational expenses by automating certain tasks. They also help businesses improve the security of their data and information. Moreover, these programs help companies save money that they would normally spend on hiring additional employees. They can then put this money into other areas such as marketing, enhanced security of their cyberspace, and employee development programs.

As digital technologies disrupt various processes within MNEs and shift MNEs’ focus to provide value to their customers by shifting their costs and activities from themselves to complementors, consumers and partners both at home and around the world, the role of IT is changing rapidly. This creates new challenges as well as opportunities. The main challenges are the rapid decline of MNEs’ competitive advantage and the emergence of new risk sources. The opportunities include increased market influence, greater market access and more rapid innovation.

In the past, IT and business have been in a conflict. Each group blamed the other when projects were unsuccessful. This was exacerbated by the nature of IT projects that were complicated and expensive to create. Even with a contract to ensure that the business understood the services IT was providing, it was hard to predict exactly what could be wrong. In addition, the requirements often changed during development. This chasm could be bridged by establishing a new type of collaboration between IT and business that is a partnership.

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