The IT World and Business
Technology has changed the way businesses operate as we have it today. From simple tools such as the calculator, to complex systems that allow for global communication, IT has made it easier for businesses of all sizes to operate. It’s difficult to imagine a world without these technological advancements however, they carry a lot of baggage. Hacking and other shady actions can disrupt business operations. It is imperative that businesses comprehend these tools and utilize them responsibly.
Nowadays, business owners make use of various tools of technology to streamline internal processes and provide support to employees and customers. Numerous softwares are available to automate everyday tasks like recording and data collection. These tools can also be employed to calculate vacation days as well as track attendance of employees and calculate monthly salaries. Cloud technology allows businesses to store and access data stored on third party servers over the internet, instead of buying and maintaining expensive physical infrastructure.
Additionally digital technologies are also changing the ways in which international business (IB) is conducted. Digital platforms help companies provide IB such as logistics, procurement, production, marketing and communications – across national borders. This allows companies to disintermediate processes by shifting costs and activities away from their operations and onto complementors, clients and other parties in the home and abroad.
The IB community has been aware of the importance of innovation for a long time and has devised a number of strategies to assist in their adoption. However, IB is still grappling to overcome the challenges associated with these new capabilities.
