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Economics in the IT Industry -- Additional Four Pages for Your Essay
Making Information Technologies a Competitive Strength
The pace and depth of innovation continues to accelerate in all sectors of IT. Across all sectors, enterprise and organizations that choose to automate their core business processes using IT systems and platforms are gaining the greatest impact of all however. Manufacturing and services companies are adopting Enterprise Resource Planning (ERP) systems to streamline their supply chain, sourcing, procurement, production and service strategies (Sternad, Gradisar, Bobek, 1511). ERP systems are proving to be extremely valuable for these organizations as they strive to create a more unified series of business strategies across all their divisions. IT has emerged as an agile platform to support business' growth over the long-term as a result.
IT investments are also now entirely tied to business objectives and strategies as well. This has made IT critical form any companies to gain the information and knowledge they need in order to keep producing their product, serving customers, managing pricing and production in a synchronized way. Globalization, continued economic risk and uncertainty, and the rapidly increasing pace of new product development across many diverse industries is also making IT a critical asset for managing a business. In short, IT has become the dial tone in many enterprises, creating the information and knowledge necessary to manage a diverse set of product divisions, services, distribution channels and new product development programs.
IT is also driving the development of entirely new approaches to unifying the enterprise as well. The growth of Service Oriented Architectures (SOA) and Web Services to streamline the most critical business processes enterprises continue to also show the value of IT as well.
Where Web Services have shown the greatest value...
IT is progressing at such a rapid pace in enterprises that it is revolutionizing how databases are used to better attract, sell and serve customers, while also making large-scale systems more intuitive and easier to use (Sternad, Gradisar, Bobek, 1511). The role of Web Services will continue to accelerate and be used for capturing, processing, producing and delivering products across globally-based production centers and manufacturing plants. As SOA platforms support Web Services and allow for cross-production center transactions and workflows, companies are investing heavily in this area of IT to drive down costs and increase response times (Lee, Kwon, Lee, Park, Hong, 2193). The future of IT's use in enterprises will continue to support complex transaction workflows while making the use of these systems intuitive and easily learned by everyone who is reliant on them (Sternad, Gradisar, Bobek, 1511). IT is the new dial tone for enterprises, and is going to accelerate business sales, production, services and new product development given its ability to unify all aspects of a business model. SOA and Web Services are case in point where this is occurring today (Lee, Kwon, Lee, Park, Hong, 2193). The benefits of IT in large-scale enterprises are delivering far beyond their costs, leading many Chief Information Officers to consider increased investments in new applications that can unify their companies and deliver strong Return on Investment (ROI). As companies become more focused on competing with knowledge over just production capacity or expertise, IT will continue to be an essential element in their transition to services-based business models as well.
How Cloud Computing is Revolutionizing Information Technologies
The rapid development of Cloud Computing…
References
Benlian, A., and T. Hess. "Opportunities and risks of software-as-a-service: Findings from a survey of IT executives. " Decision Support Systems 52.1 (2011): 232.
Fern Halper. "THE TOP 5 TRENDS IN REDICTIVE AN ALYTICS: Maturing user adoption brings vision, viability, validity and value. " Information Management 21.6 (2011): 17.
Han, Y.. "Cloud Computing: Case Studies and Total Costs of Ownership. " Information Technology and Libraries 30.4 (2011): 198-206.
Tobias Klatt, Marten Schlaefke, and Klaus Moeller. "Integrating business analytics into strategic planning for better performance. " The Journal of Business Strategy 32.6 (2011): 30.
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