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A Debate that is related to Microeconomics - Essay Example

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There are those who argue that IT has over decades lost its essence and importance in businesses across the globe, against those who hold…
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A Debate that is related to Microeconomics
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A Debate that is related to Microeconomics

Download file to see previous pages... It is important for economies to determine whether such ventures as minimizing IT will mean reduced operational costs and increased profits (which forms the core aim of all businesses) (Hubbard and Anthony, 377).
Those who see IT as obsolete and replaceable say that the fact that almost all companies have embraced IT has removed the competitive edge it offers as a result of this ubiquity and is no longer important. IT, according to them, is therefore no longer a tool that a business can use as a tool for competition in the markets to advance itself above the rest. They therefore see it fit that companies that are wise and that have studied the times begin to swiftly reduce their spending on IT and focus on other ideas and innovations that can lead to originality and therefore serve as strength of a particular business against all the other market competitors. IT to them has simply become too old and basic and therefore expendable (Gravelle and Ray, 312).
On the other hand, there are equally those who have vehemently argued against such claims of IT obsolescence. They state that IT comes with a plethora of benefits both to the consumer and the business itself. According to these proponents of IT, IT is irreplaceable in linking businesses and its consumers through the click of a button, a phone call or even email just to mention a few, while also offering a relatively easy source of information on the market trends, needs and preferences. It enables a company improve on service delivery and gain competitive advantage over others if superiorly utilized. IT also enables fast and efficient money transactions that are vital in the smooth running of any business set up, failure to which many businesses have crumbled prematurely (Hubbard and Anthony, 411).
In my opinion therefore, IT remains important in businesses as it saves time and offers an ...Download file to see next pagesRead More
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