About IT World and Business
Technology has become a major part of the global business. Every business utilizes IT tools and software to manage their operations. These programs and tools help businesses to reduce operational costs by automating some of their tasks. They also assist in improving the security and privacy of their data. Additionally, these programs aid businesses to save money that they would otherwise use for hiring additional employees. Instead, they can invest the money in other areas like marketing, improved cyber security and employee rejuvenation programs.
Digital technologies are disrupting various processes within MNEs and allow MNEs to reposition themselves to provide value to their customers by shifting costs and activities from themselves to consumers, complementors, and partners at home and across the globe, the role of IT is evolving rapidly. This creates new challenges as well as opportunities. The threats include the an erosion of MNEs’ competitive advantage, as well as the emergence of new risks. The opportunities include broader access to markets, greater market influence, and faster innovation.
The relationship between IT and business was antagonistic. When projects failed, everyone blamed the other. The complexity and expense of IT projects made the problem even worse. Even with a contract in place to ensure that the business was aware of the services IT was offering it was difficult to know what could go wrong. The requirements also changed frequently throughout the development. The solution was to develop a new type of collaboration between IT and IT: the term “partnership.” This partnership is based upon the principle that both parties must be prepared for failure.
