About IT World and Business

Technology has become a vital part of the global business. Every business employs various IT tools and software to manage their business. These programs and software help businesses reduce their operational costs by automatizing specific tasks. They also help businesses increase the security of their data and information. Additionally, these programs aid businesses save money they would normally spend on hiring more employees. These businesses can invest money they would have spent on hiring additional employees in other areas, such as marketing, cyber security and employee revitalization programs.

As digital technologies disintermediate the processes of MNEs and transform MNEs’ roles to provide value to customers by shifting costs and functions from themselves to consumers, complementors and partners in the United States and across the globe, the role of IT is rapidly changing. This trend is creating new challenges and opportunities. The challenges include rapid erosion of MNEs’ competitive advantage and the emergence of new threats. The opportunities include increased market influence, broader market access and faster technological advancement.

In the past, IT and business have had a negative relationship. Each side blamed the other when projects failed. This was further exacerbated by nature of IT projects, which were complex and expensive to design. Even with a contract ensuring that the business was aware of the IT offered it was difficult to predict what could go wrong. Furthermore, the requirements often changed during the development process. The solution to this chasm was to develop a new method of collaboration between the business and IT, a «partnership.» This partnership is based upon the principle that both parties must be prepared for failure.