The Future of IT World and Business
About IT World and Business
Technology has become a vital element of the global business. Every business makes use of 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 them to enhance the security of their data and information. Additionally, these programs allow businesses to save money that they would otherwise use for hiring more employees. These businesses can invest the money they would have spent hiring more employees in other areas, such as marketing, cyber security, and employee revitalization programs.
The future role of IT will rapidly change as digital technologies disintermediate various processes within MNEs. They also change their positioning to provide value to their customers by shifting costs and operations away from themselves and towards complementors, partners and consumers both at home and overseas. This creates new challenges and opportunities. The risks include the rapid erosion of MNEs’ competitive advantage as well as the development of new threats. The opportunities include increased market influence, broader access to markets, and quicker technological advancement.
Historically, the relationship between IT and business was adversarial. Each side blamed the other for projects did not succeed. The complexity and cost of IT projects made this situation worse. Even with a contract that ensured the business understood the IT offered, it was difficult to predict what could go wrong. Furthermore, the requirements often changed during the development process. This gap could be plugged by establishing a new kind of collaboration between business and IT called an alliance.
