The Future of IT World and Business

About IT World and Business

Technology has become a major element of the global business. Every business utilizes different IT tools and software to run their business. These software and programs help businesses cut their operational expenses through automation of certain tasks. They also help to improve the security and confidentiality of their data. These programs also help companies save money that would be spent on hiring additional employees. These businesses can invest the money they would have spent on hiring more employees in other areas, like marketing, cyber security and employee renewal programs.

Digital technologies are disrupting several processes within MNEs, and transform MNEs’ roles to provide value to their customers by shifting their costs and activities from themselves to complementors, consumers and partners both at home and abroad, the future role of IT is evolving rapidly. This trend creates our website new challenges and opportunities. The main challenges are the rapid erosion of MNEs’ competitive advantage and new sources of risk. The opportunities include a wider access to markets, greater market influence and faster innovation.

The relationship between IT and business was adversarial. When projects failed, each pointed the finger at the other. This was further exacerbated by nature of IT projects which were complex and expensive to design. Even with a contract that guaranteed that the business was aware of the IT provided it was hard to predict what could go wrong. Moreover, the requirements often changed during development. The solution to this gap was to establish a new form of collaboration between business and IT: a “partnership.” This partnership is based on the notion that both parties must be prepared for failure.