The Future of IT World and Business

About IT World and Business

Technology has become an integral element of global business. Each business uses different IT tools and software in order to run their business. These programs and software aid businesses to reduce the operating costs by automating a portion of their tasks. They also assist in improving the security and confidentiality of their data. Additionally, these programs aid companies to save money they would otherwise use for recruiting new employees. They can instead invest the money in other areas, such as marketing, better cyber security and employee rejuvenation programs.

The role of IT in the future will change rapidly as digital technology disintermediates a number of processes within MNEs. They also change their positioning to provide value to their customers by shifting costs and activities away from them and towards partners, complementors and consumers at home and abroad. This creates new challenges as well as opportunities. The main challenges are the rapid erosion of MNEs’ competitive advantage and the emergence of new threats. The opportunities include increased market influence, greater access to markets, and quicker innovation.

Historically, the relationship between IT and business was antagonistic. Each side blamed the other for projects did not succeed. This was exacerbated by the nature of IT projects, which were complex and expensive to develop. Even with a contract to ensure that the business was aware of what IT was providing it was difficult to determine exactly what could fail. The requirements were also constantly changing during the course of development. This best site gap could be plugged by establishing a new kind of collaboration between business and IT: the partnership.