The Connection Between an Organization and Information Technology

Added on -2020-02-24

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Running head: MAKING IT INVESTMENTS AND PRIORITIZATION
Making IT Investments and Prioritization
Name of the Student
Name of the University
Author’s Note:
1MAKING IT INVESTMENTS AND PRIORITIZATION
Executive Summary
The main aim of this report is to understand the basic concept of Information technology and the
utility of investing on information technology. The implementation technique helps the
organization to attain the organizational goals and objectives. Information technology has
various advantages and disadvantages. The report covers a brief introduction and the basic
discussion on the utility of investments in information technology. It should be placed on the top
section of the strategic priority list in an organization. Information technology is an important
priority for any organization. The report further describes the connection between an
organization and information technology. The report also gives proper recommendations so that
an organization is able to achieve the goals and objectives.
2MAKING IT INVESTMENTS AND PRIORITIZATION
Table of Contents
Introduction......................................................................................................................................3
Discussion........................................................................................................................................4
Information Technology..............................................................................................................4
Investments in Information Technology......................................................................................8
Interconnection between Organization and Information Technology.......................................10
Need for Investments in IT........................................................................................................10
Prioritization..............................................................................................................................13
Recommendations......................................................................................................................14
Conclusion.....................................................................................................................................15
References......................................................................................................................................17
3MAKING IT INVESTMENTS AND PRIORITIZATION
Introduction
Any kind of purchase of products or services, which are not utilized on the immediate
basis but will be utilized in the near or far future to obtain profit, is known as investment. In
financial world, the economic advantage that is utilized to gain profit in the business or
organization is known as investment (Venkatesh, Thong and Xu 2012). It is assumed to bring
financial gain in future or can be sold at higher price for more profit. The application of systems
to retrieve, manipulate and storing of information and any type of data is known as information
technology. This is mostly applied for any kind of organization or business. Information and
Communications Technology or ICT is the extension of IT. It focuses on the amalgamation of
systems with communications for the betterment of the technological world. It further combines
with all types of telecommunications that allow manipulating, store and retrieving information
(Schwalbe 2015). Information Technology is always contemplated as the subpart of ICT.
Investment is Information Technology is an extremely important task for all organizations. It
helps the organization to take perfect decisions in their business according to the modern world.
It is prioritized in all organizations.
The report outlines a brief description about the utility of any kind of investments in the
Information Technology world. The report covers a detailed discussion on the definition of
Information Technology and the advantages of making investments in IT industry. The report
also unveils the drastic changes that may occur due to this investment and how to handle the
change management that will occur after introducing investment in IT (Laudon et al. 2012). The
following report further outlines the disadvantages and the problems that may occur due to this
investment and proper recommendations to handle such situation. The report also helps to
4MAKING IT INVESTMENTS AND PRIORITIZATION
understand why investments in Information Technology are prioritized for any organization
(Mithas et al. 2012). The description of the above discussion is given in the following
paragraphs.
Discussion
Information Technology
The implementation of all types of systems that are utilized to redeem, storing and
manipulation of information or any kind of data is known as information technology or IT.
Information and Communications Technology or ICT is the extension of IT (Wu, Straub and
Liang 2015). It focuses on the amalgamation of systems with communications for the betterment
of the technological world. It further combines with all types of telecommunications that allow
manipulating, store and retrieving information. Information Technology is always contemplated
as the subpart of ICT. This is always used in all types of business or organization. IT can be
utilized to get the facility of transferring data and information via different electronically enabled
devices and Internet enabled systems (Holtshouse 2013). The equipments needed for introducing
information technology in any organization are the basic computer hardware, operating systems,
software, telecom equipments and Internet enabling devices.
Information Technology is utilized for various developments of both the society and the
rest of the technological world. This helps to evolve out positivity and more technological
benefits (Ullah and Lai 2013). There are several advantages of investing and introducing
Information Technology in an organization. They are as follows:
a) Saves Time: The main advantage of IT is the saving of time. Technology has turned
the clock upside down. Everything is achieved by just one click on the mouse (Stahl, Eden and
5MAKING IT INVESTMENTS AND PRIORITIZATION
Jirotka 2013). Time is saved by this and the organization is benefitted. The staffs and employees
do not have to put much effort on their business.
b) Increase in Productivity: The second advantage of Information Technology is that it
increases productivity massively (Ullah and Lai 2013). Since IT saves time, there is a huge
chance of increasing productivity in the business. More production is done within a short span of
time, which is extremely advantageous for the organization.
c) Improves Communication: Information Technology helps to improve the
communication with all other employees and with other organizations (Rivard and Lapointe
2012). The IT engineers can communicate with other organizations easily with just one single
click. This is extremely helpful for all organizations. The easiest ways of communication through
information technology are the telephones, emails, audio and video conferences (Baltzan 2012).
Transfer of information and data has become very easy through this technology.
d) Improvement in Storage: Information Technology helps to improve in storing,
retrieving and manipulation of information (Peeraer and Van Petegem 2012). This improves the
storage and stores the data in the modern storage system. This helps in reduction of loss of data
and eradication of data and information.
e) Improvement in File Management: Previously, all the data and information were
stored in traditional files (Bloom et al. 2014). However, after Information Technology came into
account, the files are managed and data is stored in specific modern technological database
systems.
f) Improvement in Financial Management: Most organizations, nowadays, are using
accounting software packages for their accounting tasks and accounting departments (Chesley

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