About IT World and Business

Technology has become a major element of business globally. Every business uses various IT tools and software for their operations. These programs and software can help businesses cut down on their operational expenses by automatizing specific tasks. They also help businesses increase the security of their data and information. Moreover, these programs help companies to save money they would normally spend on hiring additional employees. They can then invest the money in other areas such as marketing, enhanced security of their cyberspace, and employee technical support issues development programs.

The future role of IT will shift rapidly as digital technologies disintermediate various processes within MNEs. They also shift their focus in order to bring value to their customers by shifting cost and the activities away from themselves, and toward complementors, partners, and consumers at home as well as abroad. This brings new challenges and opportunities. The threats include the an erosion of MNEs’ competitive advantage, as well as the emergence of new threats. The opportunities include greater market influence, greater market access and faster technological advancement.

In the past, IT and business have had a negative relationship. When projects failed, each side pointed the finger at the other. The complexity and cost of IT projects made this situation worse. Even with a contract that guaranteed the business understood the IT offered it was difficult to know what could go wrong. Moreover, the requirements often changed during the development process. The solution to this problem was to develop a new kind of collaboration between business and IT: a “partnership.” This partnership is based upon the principle that both parties must be prepared for failure.