https://addmy-sites.com/2021/07/08/generated-post-2
About IT World and Business
Technology is now an integral element of the global business. Every business makes use of IT tools and software to carry out their operations. These programs and software can help businesses reduce their operational costs by automatizing certain tasks. They also aid them in improve the security of their data and information. Additionally, these programs aid businesses save money they would normally spend on recruiting new employees. These businesses can invest money they would have spent on hiring more employees in other areas, like marketing, cyber security, and employee renewal programs.
As digital technologies disintermediate many processes within MNEs and shift MNEs’ focus to provide value to customers by shifting costs and operations from themselves to complementors, consumers, and partners at home and abroad, the role of IT is evolving rapidly. This trend creates new challenges and opportunities. The threats include the rapid erosion of MNEs’ competitive advantage and the emergence of new threats. The opportunities include greater access to markets, greater influence on the market and faster innovation.
Historically, the relationship between IT and business was adversarial. When projects failed, each side blamed the other. The complexity and cost of IT projects made the situation more complicated. Even with a contract in place to ensure that the business understood what IT was providing it was difficult to know what could go wrong. The requirements were also constantly changing throughout the development. The solution was to establish a new method of collaboration between the business and IT: the term “partnership.” This partnership is based upon the principle that both parties must be prepared for failure.