Strategizing for Business Success: The Role of Information Technology - Research Paper

Introduction

The competition in the business world has led to the development of strategies that differentiate one company from the other in the various industries. Therefore, there are developments and improvements in the delivery of services. One of the strategies is Information Technology. In the sectors, Information Technology helps in the evolution of hardware and software. The roles of Information Technology in the industries include communication, data management, and management of the systems. The future and success of industries and businesses are dependent on digital technologies and the embracement of the technologies.

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There is the Global Information Technology report, which had four vital messages. First, the business models and the technologies determine and define the innovation of the business. Therefore, the success of the company is primarily obtained from the models or strategies and technology. Second, an establishment selects the design for business implementation. However, technology systems should be compatible and adaptable. Therefore, entrepreneurs and managers are advised to embrace digital technology to succeed in the digital economy fully. Besides, the government and private sectors need to invest in the digital platforms and services to impact the society, build a sustainable digital economy, and assist in the adoption of the digital economy. As a result, the community will be dependent on the new technologies and frameworks which will help improve circumstances.

Companies for Various Industries With IT Playing a Strategic Role

Manufacturing Industry

In the manufacturing industry, there is Intuitive Surgical, which is a company that offers robotic-assisted surgeries, develops, manufactures, and markets the surgical system. The company adopted its designs and they provide the system to other companies to help improve healthcare. There are many challenges faces by the surgical companies but Information Technology eases some of them by delivering digital solutions. Intuitive Surgical has provided the society with a sustainable digital economy by embracing emerging technology. Besides, Information technology offers job opportunities. In the medical field, there have to be people controlling the robots that handle the surgeries. The robots require services for the hardware and the software. There are actions that the robots may be unable to accomplish. Therefore, the experts should be present to execute them. The technology simplifies the manufacturing processes by automating the actions for the humans (Bardhan, Whitaker & Mithas, 2006).

Finance Industry

American Express is a company in the finance industry. The finance industry also includes banks. The banks are trying to provide online services to their customers. The online services include online banking, mobile banking, and Automated Teller Machines (ATMs). These kinds of services are all in existence due to the technologies that the banking industries have adopted. The American Express is useful in global payments. Therefore, the services offered by the company are all possible because of the technology. The models for the selection have to be analyzed per the problems, technology solutions, and the budget (Graves & Ringuest, 2012). The company has provided a channel where one may make payments globally.

Transport Industry

Japan Railways Group has developed because of the technology. There was a focus on the technical standards of the railway, designing, railway-related technologies, and public databases on railways. The focus of the company was on problems that they experienced over the years. The solutions were all based on the technology that was suitable for the company. The database of railway transportation needed to be analyzed. However, it would take a lot of time and errors for an individual to be able to explore all the data. The analysis of data without the use of technology would be close to impossible. Hence, the Japan Railway Group chose technologies that provided solutions to the problems they faced. Dealing with their challenges enabled them to provide better services to their customers.

In the future, the company will opt for a technological solution to keep up with the competition. Japan Railways group got support from the government and public sectors of transport. The government through the Ministry of Land, Infrastructure, and Transport and other independent administrative bodies, endorses the development of high-speed rail systems, transport safety, and environmental conservation (Morisugi, 2000). Therefore, the technology field in the transport sector is changing circumstances and showing its impact.

Agriculture

Technology has improved the Agricultural sector from the production to the marketing of the produce. One of the Agricultural companies that have embraced the evolving technology is Cargill. The agricultural produce is much dependent on the innovation and technology of a country or company. Hence, Cargill focuses on technology and digitalization for great and healthy production. The company has the best approaches for the advancement of agriculture globally. The supply chain in the Agricultural sector requires modernization and innovation. Therefore, there should be updates and changes in technology. Over the years, the evolving technology needs to be considered. The global population has been increasing over the years. Therefore, the challenge is the demand for food from the growing community.

The government and other agricultural bodies have offered support as they try to provide solutions and also grow individually. The technology, in this case, is used to improve the prosperity of the farmers and fulfill the purpose of the companies. Over the years, agriculture has shown improvement and advancement. In the beginning, people used complete tools and easy methods of farming. There have been improvements to boost production. To date, there is the use of machinery, and other mediums such as water to increase production and maximize the use of available resources (Cox, 2002).

Conclusion

The IT strategy outlines how technology assists in meeting the goals of the companies. Therefore, the factors that affect companies are well-drawn. The successful companies are those that have invested in the factors that affect the companies' use of technology. There are usually different business models that require the best analysis.

The industries that easily choose strategies that suit them well, and adapt to them easily have succeeded. The society appreciates the companies and businesses that are willing to provide solutions that are convenient to the users. Hence, there is high competition in the digital economy. The information Technology plays strategic roles in various industries, adds value, and provides a competitive advantage.

There is an evolution in the way of living of the people. Therefore, companies have to ensure that they provide solutions to problems. Besides, the answers should be convenient, timesaving, and easy to access. Then, companies are to assess, choose the best models and strategies, ensure that they are compatible and easy to implement. The internet has been shaped and made to develop the economy and improve social progress.

References

Baller, S., Dutta, S., & Lanvin, B. (2016). Global information technology report 2016. Geneva: Ouranos.

Bardhan, I., Whitaker, J., & Mithas, S. (2006). Information Technology, Production Process Outsourcing, and Manufacturing Plant Performance. Journal of Management Information Systems, 23(2), 13-40.10.2753/mis0742-1222230202

Cox, S. (2002). Information technology: the global key to precision agriculture and sustainability. Computers and Electronics in Agriculture, 36(2-3), 93-111. 10.1016/s0168-1699(02)00095-9

Graves, S. B., & Ringuest, J. L. (2012). Models & methods for project selection: concepts from management science, finance, and information technology (Vol. 58). Springer Science & Business Media.

Morisugi, H. (2000). Evaluation methodologies of transportation projects in Japan. Transport Policy, 7(1), 35-40. doi: 10.1016/s0967-070x (00)00013-5