Corporate Information Strategy and Management Essay

incarnate tuition Strategy and Management - Essay ExampleThe scenario in the world of business is changing both now and then with new entrants in the market making sincere attempts to make it to the top. Any formation either to survive or compete in the industry needs to re-formulate its strategy keeping in view the market condition and rivals. According to Grant (Bowman, E.H and Helfat, C.E., 2001) business strategy deals with the ways in which a single business theatre or an individual business unit of a larger firm competes within a particular industry market whereas corporate strategy deals with the ways in which a corporation manages a set of business together. Chew E.K. and Gottschalk, P. (2009) states that strategy is ab out(p) creating a competitively severalise position to win customers in the marketplace. Yannis and Treacy (1986) mentioned that senior executives, strategic planners and entropy system managers are nowadays formulating policies to hold learning engi ne room to achieve competitive advantage in the industry market. The technology offers great take off of capabilities at lower costs that has motivated the companies to utilize the technology for better decision making process. Information technology is useful in trying to improve the efficiency and effectiveness of current arrangement and out maneuver the others in the competition. The components of corporate strategy, which include internal, competitive and business portfolio strategy, are affected by information technology that improves the efficiency of the firms operation. It has become necessary in todays competitive climate for every business organization to utilize the information technology in its operations to achieve the objectives in scheduled time. Therefore the usher in study intends to find the importance of information technology as part of corporate strategy and its expediency to the management and also to evaluate its impact during the turbulent times of recess ion when most of the companies were going go bad and filing for liquidation.Research Question The present study is research on the importance of information technology in corporate organizations and management in taking decisions with regard to achieving the objectives through various literature reviews. It is think to study the impact of IT strategy in development of companys internal strategy and how it is useful in attaining its goals and objectives. Therefore, a short study will be carried out in one of the organizations to study its corporate information strategy and how it is effective in taking managerial decision making process. Review of literatureArquilla and borer (2007, p.4) relating information strategy to history mentioned that the first giant leap came with electrical telegraph that allowed information to take to the woods at the speed which was unheard at that time. And presently, Information Technology (IT) is referred to as wildcard in business by Applegate et a l (2008, p.1), a source of opportunity and uncertainty, of advantage and risk. It is further stated that the evolution of technology, work and work force over the past 40 years has dramatically influenced the concept of organizations and the industries and IT is not considered as a hazard office transactions tool, it has become a strategic part of businesses enabling the redefinition of markets and industries and strategies and designs of firm