Information about IT World and Business
Technology has become a major element of global business. Every business utilizes different IT tools and software in order to run their business. These programs and applications help companies reduce their operational costs by automatizing specific tasks. They also assist in improving the security and privacy of their data. These programs also help businesses save money they would have invested in hiring more employees. These companies can invest the money they would have spent on hiring additional employees in other areas, like marketing, cyber security and employee rejuvenation programs.
Digital technology is disrupting several processes within MNEs, and reposition MNEs to deliver value to their customers by shifting costs and operations from themselves to complementors, consumers, and partners at home and abroad, the role of IT is evolving rapidly. This creates new challenges and opportunities. The challenges include the rapid loss of MNEs’ competitive advantage and the emergence of new risk sources. The opportunities include greater market influence, more market access and quicker innovation.
In the past, IT and business have had a hostile relationship. When projects failed, everyone blamed the other. This was made more difficult by the nature of IT projects that were both complex and expensive to create. Even with a contract that guaranteed that the company understood the IT provided, it was difficult to anticipate what could be wrong. The requirements were also constantly changing during development. This chasm could be bridged by establishing a new kind of collaboration between IT and business that is an alliance.
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