Technology has https://addmy-sites.com/2020/10/12/website-building-tools-by-board-room become a major element of global business. Every business employs IT tools and software to run their business. These programs and software can help companies reduce their operational costs by automatizing specific tasks. They also help to improve the security and confidentiality of their data. These programs also help companies save money they could have employed additional employees. Instead, they can invest the money in other areas like marketing, better cybersecurity and employee re-emergency programs.
As digital technologies disrupt the processes of MNEs and allow MNEs to reposition themselves to provide value to customers by shifting their costs and activities from themselves to consumers, complementors and partners at home and abroad, the future role of IT is evolving rapidly. This trend creates new opportunities and challenges. The main challenges are the rapid erosion of MNEs’ competitive advantage and the emergence of new risks. The opportunities include broader access to markets, more market influence, and faster innovation.
Historically, the relationship between IT and business was antagonistic. When projects failed, each pointed the finger at the other. This was further exacerbated by nature of IT projects, which were complex and costly to design. Even with a contract to ensure the business understood the IT offered it was difficult to predict what could be wrong. The requirements also changed frequently during development. The solution to this gap was to establish a new form of collaboration between business and IT: the term „partnership.” This partnership is based on the notion that both parties must be prepared for failure.
