Information about IT World and Business
Technology has become an integral element of business globally. Every business uses various website building tools by board room IT tools and software to carry out their business. These programs and software help businesses cut their operational expenses through automation of certain tasks. They also help businesses enhance the security of their data and information. Additionally, these programs aid businesses save money they could otherwise invest in hiring more employees. They can then put this money into other areas such as marketing, better security of their cyberspace, and employee development programs.
As digital technologies disrupt several 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 at home and abroad, the future role of IT is changing rapidly. This trend creates new opportunities and challenges. The main challenges are the rapid erosion of MNEs’ competitive advantage and new sources of risk. The opportunities include broader access to markets, greater influence on the market and faster innovation.
Historically, the relationship between IT and business was adversarial. When projects failed, both sides pointed the finger at the other. The complexity and expense of IT projects made the situation even more difficult. Even with a contract ensuring that the company understood the IT provided it was difficult to know what could go wrong. The requirements were also constantly changing during the course of development. This gap could be bridged by establishing a new kind of collaboration between IT and business that is an alliance.