Globalization and Business IT Exam Assignment Example | Topics and Well Written Essays - 2500 words

Globalization and line IT Exam - Assignment ExampleBusiness to Consumer (B2C) Business to Employees (B2E) and Consumer to Consumer (C2C), the archaic methodology of conducting business line has been redefined. The most striking advancement brought upon by the advancement in selective information technology is the drastic modification in the communication norms. Businesses ar now able to communicate with its internal, external and connected stakeholders more conveniently, thus saving precious time and cost. Internet has played the most heavy(p) part in abridging the distance. By using e-commerce, companies of exclusively types be able to explore new business ventures in the form of new and similar securities industry segments and lucrative business opportunities. Distance in no more a hurdle. Since the internet never sleeps, customers have the privilege of doing transactions 24-hours of the day, 365-days of the year. Bad weather or labor problems volition not prevent the cus tomers from visiting the store and placing their orders. From global perspective, the introduction of electronic information interchange (EDI) has standardized the language of business all across the globe. According the Advantages of EDI, using these industry standards, for transfer data related to commercial transactions, the manufacturer and the supplier are easily and quickly able to shade a business transaction. In order to objectively evaluate the role of information technology for all businesses, its role can be divided into three major aspects which can prove to be lively for any business enterprise Support of its business processes and operations Support of decision making by its employees and managers Supports of its strategies for competitive advantage (OBrien and Marakas 2008) An organization operating in global environment strives to implement the above mentioned traits in its corporate strategy and thus reaping maximum benefits. Multinational organization uses IT i n order to integrate its heterogeneous strategic business processes and operations such as keeping record of purchases and sales, automating the inventory record agreement or maintaining transaction history of the customers in order to forecast their demand in future. IT also provides the managers and those charged with governance several tools which assist them in making apt decisions. These decisions might include the addition or deletion of products from the current product line, what are the projects which are likely to yield positive cash flows in the future and identification of the lucrative investments. In todays world, to obtain a clear strategic advantage over the competitors, a company needs to align its corporate strategy keeping in consideration the information technology requirements. The use of strategic information system has tremendously uplifted the tonus of product and services offered by different companies and have immensely assisted in obtaining competitive advantage. A company can only survive if it develops strategies which are sufficient to counter the prevailing competitive threats in the market. Competitive forces can be analyzed through Porters five forces model which are illustrated in the figure below In todays dynamic market, not only the companies are expending sufficient resources in countering the prevailing rivals in the market, but efforts have also been diverted towards establishing barriers which will stop the new entrants into the market. The internet has created several ways through which new entrants can enter into the market more easily and quickly and with considerably less