About IT World and Business
Technology has become a crucial element of global business. Every business utilizes IT tools and software for their operations. These softwares and programs help businesses reduce their operational costs by automating some of their tasks. They also help to improve the security and privacy of their data. These programs also allow businesses to save money that would be invested in hiring more employees. They can put this money into other areas such as marketing, better security of their cyberspace, and employee development programs.
As digital technologies disrupt many processes within MNEs and transform MNEs’ roles to provide value to their customers by shifting their costs and activities from themselves to consumers, complementors and partners at home and abroad, the future role of IT is evolving rapidly. This trend creates new opportunities and challenges. The challenges include rapid erosion of MNEs’ competitive advantage and the emergence of new risks. The opportunities include increased market influence, better market access and quicker innovation.
The relationship between IT and business was antagonistic. When best site projects failed, each side blamed the other. The complexity and expense of IT projects made this situation worse. Even with a contract to ensure that the company understood the services IT was offering, it was hard to predict exactly what could go wrong. Furthermore, the requirements often changed during development. The solution to this chasm was to develop a new kind of collaboration between business and IT: an “partnership.” This partnership is based upon the principle that both parties must be prepared for failure.
