Information about IT World and Business
Technology has become an integral aspect of the global business. Every business uses various IT tools and software to manage their business. These programs and applications help companies reduce their operational costs by automating certain tasks. They also help them to increase the security of their data and information. These programs can also help businesses save money they would have spent on hiring additional staff. They can instead invest this money in other areas like marketing, enhanced cybersecurity and employee re-emergency programs.
Digital technologies are disrupting many processes within MNEs and shift MNEs’ focus to provide value to customers by shifting costs and functions from themselves to complementors, consumers, and partners at home and abroad, the future role of IT is changing rapidly. This trend creates new challenges as well as opportunities. The main challenges are the an erosion of MNEs’ competitive edge and the emergence of new risks. The opportunities include greater access to markets, greater market influence and faster technological innovation.
Historically, the relationship between IT and business was adversarial. Each group blamed the other when projects didn’t succeed. The complexity and cost of IT projects made the problem even worse. Even with a contract to ensure that the business was aware of the IT offered it was hard to anticipate what could be wrong. The requirements also changed frequently during the course of development. The solution to this problem was to develop a new form of collaboration between business and IT: it’s called a “partnership.” This partnership is based on the notion that both parties must be prepared for failure.