01 Oct The Future of IT World and Business
About IT World and Business
Technology has become an essential element of the global business. Every business makes use of IT tools and software to run their operations. These programs and software can help businesses cut down on their operational expenses by automating certain tasks. They also help to improve the security and confidentiality of their data. Moreover, these programs help companies save money that they would otherwise spend on hiring more employees. Businesses can put the money they would have spent on hiring additional employees in different areas, such as marketing, cyber security, and employee revitalization programs.
The role of IT in the future will change rapidly as digital technology disintermediates many processes within MNEs. They also alter their roles to provide value to their customers by shifting costs and activities away from them and towards complementors, partners, and consumers at home and abroad. This trend is bringing new challenges and opportunities. The threats include the rapid erosion of MNEs’ competitive advantage as well as the development of new risks. The opportunities are greater access to markets, greater influence on the market, and faster innovation.
In the past, IT and business have been in a conflict. Each side blamed the other for projects did not succeed. The complexity and expense of IT projects made the situation more complicated. Even with a contract ensuring that the business was aware of what IT offered it was difficult to anticipate what could go wrong. The requirements were also constantly changing during the course of development. This gap can be closed by establishing a new kind of collaboration between IT and business and business: A partnership.