The Future of IT World and Business

About IT World and Business

Technology is now an integral element of global business. Every business utilizes IT tools and software to manage their operations. These software and programs help companies reduce their operational costs through automation of certain tasks. They also assist them to increase the security of their data and information. These programs also help companies save money they could have spent on hiring additional staff. Instead, they can put this money into other areas like marketing, enhanced security of their cyberspace, and employee development programs.

The future role of IT is changing rapidly as digital technologies disintermediate various processes within MNEs. They also reposition them in order to bring value to their customers by shifting the expenses and activities away from them and towards complementors, partners and consumers in the US and abroad. This is creating new challenges and opportunities. The issues include the rapid reduction of MNEs’ competitive advantage and the emergence of new risk sources. The opportunities include greater access to markets, more market influence, and faster innovation.

The relationship between IT and business was adversarial. When projects failed, each pointed the finger at the other. This was made more difficult by the nature of IT projects, which were complex and costly to design. Even with a contract to ensure that the business was aware of what IT offered it was difficult to anticipate what could be wrong. The requirements also changed frequently throughout the development. This gap could be plugged by creating a new type of collaboration between IT and business called A partnership.

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