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Information about IT World and Business
Technology has become a vital part of the global business. Every business has its own IT tools and software in order to run their business. These programs and software can help businesses cut their operational expenses through automation of certain tasks. They also help to improve the security and confidentiality of their data. Additionally, these programs aid businesses save money they would normally spend on hiring additional employees. Businesses can put the money they would have spent on hiring additional employees in other areas, such as marketing, cyber security and employee revitalization programs.
As digital technologies disrupt various processes within MNEs and allow MNEs to reposition themselves to provide value to customers by shifting costs and functions from themselves to complementors, consumers and partners at home and across the globe, the role of IT is rapidly changing. This trend creates new challenges and opportunities. The threats include the rapid erosion of MNEs’ competitive advantage, as well as the emergence of new threats. The opportunities include greater access to markets, more market influence and faster innovation.
In the past, IT and business have been in a conflict. When projects failed, each pointed the finger at the other. The complexity and cost of IT projects made the situation even more difficult. Even with a contract ensuring that the business was aware of the IT offered it was hard to know what could be wrong. The requirements also changed frequently during the course of development. The solution to this gap was to establish a new method of collaboration between the business and IT: the term “partnership.” This partnership is based on the principle that both parties must be prepared for failure.