Information about IT World and Business
Technology has become a vital part of the global business. Every business uses various IT tools and software for their operations. These programs and software help businesses cut down on their operational expenses through automation of certain tasks. They also aid them in improve the security of their data and information. Furthermore, these programs assist businesses save money they would otherwise use for hiring additional employees. Instead, they can invest the money in other areas like marketing, enhanced cybersecurity and employee re-emergency programs.
As digital technologies disrupt several processes within MNEs, and transform MNEs' roles to provide value to their IT World and Business customers by shifting their costs and activities from themselves to complementors, consumers and partners at home and around the world, the role of IT is changing rapidly. This trend creates new challenges and opportunities. The challenges include 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.
In the past, IT and business have had a hostile relationship. When projects failed, everyone pointed the finger at the other. This was exacerbated by the nature of IT projects which were complex and expensive to create. Even with a contract that guaranteed that the business was aware of what IT provided it was hard to predict what could be wrong. The requirements were also constantly changing as the technology developed. This gap can be closed by establishing a new type of collaboration between IT and business: a partnership.