The IT World and Business

Technology has changed the way we conduct business. IT has facilitated businesses of all sizes from simple tools such as the calculator to complex systems that facilitate global communication. It’s not easy to imagine a world without these technological advances however, they come with a lot of baggage. Hacking and other malicious actions could cause disruption to the business processes. It is essential that businesses comprehend the tools available and use them with care.

Today, business owners use numerous tools in the field of technology to streamline internal processes and provide support to customers and employees. Numerous software tools automate tasks such as data collection and record keeping. Certain of these tools allow businesses to track and process employee attendance, calculate vacation leaves, and even calculate monthly salary. Cloud technology allows businesses to store and access data on third-party servers over the internet, rather than purchasing and maintaining expensive physical infrastructure.

Digital technologies are also changing international business (IB). Digital platforms enable firms to provide IB – including procurement, production, logistics, marketing and communications – across national boundaries. This enables businesses to eliminate intermediaries in processes, shift costs and operations from the company’s own operations to complementors, customers, and other stakeholders in the home and abroad.

The IB community has long recognized the significance of these developments and has developed a number of strategies to facilitate their acceptance. However, IB is still grappling with the issues that come with these new capabilities.

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