Believe it or not, there was a time when IT did not exist. During this period, the slow pace of information exchange, along with the inaccuracy of data only helped to create problems instead of solutions. With the creation and implementation of IT, there came a substantial increase in speed as well as accuracy. This increase helped propel domestic and global markets into the giant conglomerates we are familiar with today.
One may argue however, that IT does not matter in today's business world. While IT may help to speed up the exchange of information, it only helps a company gain a competitive advantage if its competitors do not already have the same technology. Once new IT emerges, it takes very little time for mass adoption, if the new IT is effective and practical. The high cost of IT is also a major disadvantage. Many small business' simply cannot afford the IT they may need to compete effectively.
On the other hand, many argue that IT is essential. Without IT, many transactions and other communications would never happen, customers would become unsatisfied, and manufacturers could not meet deadlines. While certain IT may not help with gaining a competitive advantage, companies who lag behind in the IT world, will slowly fade away in their respective market.
IT cannot be ignored. It is the future and the basis of all business practices and functions. Without IT, many business' would be subject to the sluggish pace of pen and paper. While pen and paper may be cheaper to purchase and maintain, the advantages of IT are very significant compared to the losses that may occur because of its absence.
No matter what business you may be in, whether to implement IT is a choice that will be left up to top managers and executives. IT can be a hindrance or a catalyst. The ultimate decision lies in whether it will be helpful in gaining a competitive advantage or ultimately become a costly failure.
