The fastest growth in the industry's business trend is Technology. Let me start by saying "The competitive advantage of technology really lies in how you and your organization decide to respond to technology and use it" this quote came from a case study entitled: Disruptive Technologies Disrupt Blockbuster Late Fees.
Nowadays Information technology helps business to gain and sustain such advantage against their competitors. It's the reality of booming companies in the world today, they use information to be capacitated by a foundation of their products and service, the more "hi tech" and the more information you get the more successful your company would be. "They transformed technology from a supporting tool into a strategic weapon" this is a proof coming from Thomas A. Davenport; Competing on Analytics.
True that technology is growing and growing faster but we have to remember that information and people are the most important resource in Management Information Systems. Now, I am moving to a more specific angle in Information Technology. From what I remembered from my Database for Management class, There is a Database Management System that is made through the computer system that enables the users to record, incorporate and update files automatically. The DBMS could be the structure on how the company wants to share information to their customers. It could also be the base for their clients to place their datas into the input screen (if there would be any) that is provided by the company to be able to serve them better. There are alot of DBMS available in the market today like Oracle, this is one of the main DBMS that is used by rather large companies.
Though many companies depend on enhancing their competitive advantage still they struggle with the limitations of using Information Systems. As Don Tapscott said in Business Intelligence: Actionable Insights for Business Decision Makers; "And while they provided significant value, these systems were often constrained by inherent challenges, such as complexity and data limitations---problems which continue to the present day". So it continues, even if it has some disadvantage at some point still the power of the internet give people the hope to pursue the question of "what will happen next?".
But nonetheless it caters more advantage, for it is more and so developing and enhancing. There are such solutions like In-memory technologies that helps, for example the IT team of a certain company to help provide more services by not affecting their need to design, build and maintain intermediary data sets.
Popular companies involve Telecommuting, and outsourcing or what they usually call BPO's. This companies usually work with the help of Information Systems. They gather, manipulate, create, and even survey datas to be able to cater to each of their customers need. Many banking corporations seek the service of outsourcing companies to help them improve their customer service, hotlines, collection of payments/ fees, and even offering new products and services. The use of IT nourish the companies competitiveness among their rivals. We could say that there is a lot of "call centers", and all of them are quite effective because they are in demand. Another example would be online bookings. More and more travel agencies are trying to make their service as accesible as possible. So even if people are on the go, they just go through the internet or just have a phone call and you're ready to go. That easy.
Think about it. It may be a PAIN at the beginning and starting up of improvement using IT, because you may need to shell out and invest a lot of money to make your capacity as the best as possible (undergo trainings, maintenance, securiy, etc.) but their will always be a GAIN just wait and see how your business would flow and grow. Probably the best key, really, is be a Knowledge Worker. People are into the "easiest way around" mode, so more and more companies look into ways on how to reach this potential customers. I bet IT is the answer.
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