Information Technology in Business Essay Example | Topics and Well Written Essays - 3250 words

Information Technology in Business - Essay Example It can make employees more comfortable and happy, which in turn yields better results in productivity. It might also be able to conserve on time and resources by making work easier and faster. It is one of the most beneficial creations of the new century, which has taken human life into a new era of technological advancement, into a world where new possibilities are achievable and business experiences a new perspective, which is easier to handle, yet gives you better results, definitely a worthy option to be considered worth applying and thus executing a better corporate position and get endless business opportunities. Information management is one of the fastest growing areas of experimentation these days, with new areas being explored everyday and new evolutions and revolutions taking place in very short lapses of time. (C Kenneth Allard, 2004) The paper talks about the implications of information technology for businesses in order to achieve competitive advantage over other competent business rivals. Further more; it talks about different aspects of IT, the reasons why IT is not the only thing to be considered and finally, the different implications of IT and some examples of the systems that can be used to achieve competitive advantage. Competitive advantage is basically a hold of a particular firm over the industry. It is an advantage that a company has over others due to a particular service that only this particular firm provides or any system that is integrated only in this particular firm etc. In order to maintain its competitive advantage, a company should keep a close watch over its potential competitors in order to minimize the risk of losing its competitive advantage for not being aware enough. It is a position of a firm in the world of business, a space that it enjoys being better than its competitors in a particular area or a general environment. But, no matter how much the competitively advantaged the firm is, its never unbeatable; not even in the cases of a monopoly. The competitive advantage only lasts till the competitors don't have that particular advancement. The moment they do, the competitive advantage is gone. Thus, to conserve the competitive advantage, a firm must keep on updating its status and looking up for more opportunities of advantage. IT & Competitive Advantage: It is one of the biggest factors that help a firm in achieving competitive advantage. It has so many aspects attached to it that one aspect or the other is bound to provide competitive advantage. Nicholas G (2004) described that the only thing that is needed is the eye to look for it and the mind to implement it in a unique, personalized and customized way so that it is integrated in the firm and is hard for the competitors to achieve and thus ensures the possibility of long lived competitive advantage instead of a short lived one. IT assists Business Growth: The organizations and companies are under constant pressure of competition. First this competition was just with the local industries, organizations and companies, but as the world is coming closer and closer every day and is turning into a global village, the circle of competition has grown from local