Information about IT World and Business

Technology has become a major part of global business. Every business utilizes IT tools and software to manage their business. These programs and tools help businesses reduce their cost of operations by automating certain of their tasks. They also assist in improving the security and confidentiality of their data. These programs also help companies save money that they would have spent on hiring additional employees. Instead, they can invest the money in other areas such as marketing, enhanced security of their cyberspace, and employee development programs.

As digital technologies disintermediate many processes within MNEs and shift MNEs’ focus to provide value to customers by shifting their costs and activities from themselves to consumers, complementors and partners at home and across the globe, the role of IT is evolving rapidly. This trend creates new challenges as well as opportunities. The biggest challenges are the rapid decline of MNEs’ competitive advantages and the emergence of new risk sources. The opportunities include broader access to markets, greater market influence and faster innovation.

In the past, IT and business have had a rocky relationship. Each side blamed the other for projects did not succeed. The complexity and expense of IT projects made this situation more complicated. Even with a contract that guaranteed the business understood the IT offered, it was difficult to anticipate what could go wrong. Furthermore, the requirements often changed during development. The solution to this problem was to establish a new method of collaboration between the business and IT, it’s called a “partnership.” This partnership is based on the notion that both parties must be prepared for failure.

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