The Value Creation Of Information Technology

This article makes up Chapter 1 of the free, open access book titled, Information Systems: A Manager's Guide to Harnessing Technology, by John Gallaugher. Please ensure that you read the entire Chapter 1 of the book consisting of 3 parts (Part 1 Introduction; Part 2 Don’t Guess, Gather Data; and Part 3 Moving Forward).

Case Study Assignment KL Worldwide Enterprises Inc.: Putting Information Technology to Work Submitted by Mark Lemoine September 14th, 2012

Foundation of IT in a place is very crucial for most business. Organizations can use IT resource to create innovative and strategic process that helps business to reach beyond the status quo. Organization without new technologies resources can lose momentum and fall behind in competition. On the other hand, organizations with effective and updated technologies remain competent and superior; get competitive advantage thus acquire and maintain their big market share.

“No longer is IT just another tool the CEO might use to accomplish costs saving and operational ends. Today, information technology can help solve product problems, set new levels of service and create new distribution and communication channels.”

Information Technology (IT) is a foundation for conducting business today. It plays a critical role in increasing productivity of firms and entire nation. It is proven that firms who invested in IT have experienced continued growth in productivity and efficiency. Many companies' survival and even existence without use of IT is unimaginable. IT has become the largest component of capital investment for companies in the United States and many other countries.

The rampant used and rapidly advancement of information, communication and technologies in the past decade owes us benefits and shortcoming. Information technologies have ease and broadly opened opportunities for businesses innovations as well as productivity locally and internationally...

This case study aims at providing substantial information pertaining to the effects adopting IT in a particular banking institution. The researcher understands that there are important issues that have to be disclosed and discussed in order to determine aspects that need to be improved for both subjects involved in the study. For the purposes of achieving a comprehensive discussion regarding the topic, substantial amount of data has been gathered to serve as references. Direct texts are taken form relevant sources so as to prove that claims and arguments raised by the researcher are facts-based. In addition to this, direct statements coming from persons who are knowledgeable about the topic are also taken into account for the purpose of supporting arguments. Textual illustrations and practical examples are also included by the researcher in order to clarify ambiguous concepts and strengthen explanations.

As it has been evident in the 21st century, almost all companies at the global level are utilizing Information technology in their attempt to achieve the desired productivity. It is however worth noting that manufacturing, processing, assembly as well as service industries and companies have sought to utilize IT without emphasis on the specific achievements. In this context, it has come to the notice of many critics that entrepreneurs are utilizing IT just for purpose of achieving high profits and without paying key attention to the strategic importance of the same. As Carr argues, the power and the ubiquity of IT has increased prominently but this system is no longer offering the desired strategic advantage.

Information Technology (IT) is a foundation for conducting business today. It plays a critical role in increasing productivity of firms and entire nation. It is proven that firms who invested in IT have experienced continued growth in productivity and efficiency. Many companies' survival and even existence without use of IT is unimaginable. IT has become the largest component of capital investment for companies in the United States and many other countries.

I believe one of the major reasons why companies have had difficulty realizing productivity gains from investments in IT is because the users of the systems were not involved enough with the creation and implementation of new information systems. System implementations often focus on getting the technical solution designed and developed instead of focusing on the user and what information they need. This can create poor user interfaces that can confuse users and prevent or slow access to time saving opportunities. When selecting, developing and implementing new IT systems management and all users should be working closely with their IT staff to communicate what information they need or want. They also must ensure that the information will be delivered to them in user-friendly way and that the system is set up to help meet the organization’s strategy.

Nigerian banking industry has become highly ICT-based and is reaping the benefits of technological revolution as evidenced by its application in most of its operations. The objective of this paper was to determine if the Nigerian banks have failed or succeeded in the adoption and use of ICT (see table 2.1). An evaluation of the adoption and use of ICT infrastructures from the periods between years 2000 to 2008 indicated steady growth. It is presumed that as of today, the Nigerian banks may have attained their ICT potentials in their operations, though with some

In 2003 when Nicholas Carr wrote the article “IT Doesn’t Matter” companies were just beginning to utilize information technology as a competitive advantage. Mr. Carr contends that technology is not a permanent advantage because in time the competition will acquire the same resources and Information Technology (IT) just becomes another commodity. For the majority of companies throughout the world IT resources have become easily accessible and affordable. If Mr. Carr’s opinion is correct then the equality of IT access has just become a cost of doing

The use, acceptance, adoption and application of internet technology to businesses to boast their performances are not something new. Saffu et al., (2008), states that there has been a significant increase in the use and application of e-commerce in businesses in the past decade. E-commerce has benefits such as reduction in costs, increased business opportunities, reduced lead time and providing more personalized service to the customers (Turban et al., 2008). Internet banking or e-banking is one of the many tools of e-commerce adopted by the banking industry. Tools of information technology such as internet banking have significantly improved the quality of services offered by the banking

– Information technologies as competitive necessity – May be: • Industry-level changes, e.g. Citibank’s introduction of ATMs • Governmental regulations requiring record-keeping

New information technology has taken part and importance place infuture development and economic growth ,especially banking sector transition has been affected more than any other provider groups Widely used the advanced technology ,mobile services, internet as new distribution channel for banking transaction also international trading require more attention towards e-banking security to safeguard it from all the fraudulent activities .The development and the increasing progress in the Information and Communication Technology has brought about many changes in all facets in our life .Information Technology has emerged in vast field and contributed a alot in the growth of Indian Economy .It has made access easier ,saves time Information technology also helps the business world to maximize its productivity and work efficiently .Faster communication ,maintain records and protection of those records are advantages of IT .