The IT World and Business

Technology has transformed business as we recognize it. Technology has helped businesses of all sizes starting with simple tools like the calculator, to complex systems that facilitate global communication. It’s hard to imagine a world without these technological advancements, but they come with a lot of baggage. Hacking and other malicious actions can cause disruption to business operations. It is important that businesses understand these tools and utilize them in a responsible manner.

Today, business owners use numerous tools in the field of technology to simplify internal processes and help employees and customers. Numerous software tools automate tasks such as data collection and record keeping. Some of these tools also allow businesses to track and process employee attendance, compute vacation time, and even calculate monthly salary. Cloud technology allows businesses to store data on third-party servers and access it through the internet, rather than purchasing and maintaining costly physical infrastructure.

In addition digital technologies are changing the ways that international business (IB) is conducted. Digital platforms help companies provide IB – including logistics, production, procurement marketing and communications across national boundaries. This lets businesses decentralize processes by shifting costs and tasks away from their operations and onto clients, partners and other parties in both the home and abroad.

The IB community has been aware of the importance of innovation for quite some time and has developed a range of strategies to assist in their adoption. However, IB is still grappling with the challenges associated with these new capabilities.

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