Factors Essay Example | Topics and Well Written Essays - 250 words

Factors - Essay Example This factor is vital, because such change in the structure also changes the main principles of competition in this industry. Porter  and  Millar state â€Å"today, information technology must be conceived of broadly to encompass the information that businesses create and use as well as a wide spectrum of increasingly convergent and linked technologies that process the information†. The second vital factor to mention is creating competitive advantage. Information technologies provide the organization with new ways to do better than their competitors. The third factor is generating the completely new business by altering organization’s existing activity. According to Porter  and  Millar, â€Å"information technology is changing the way companies operate. It is affecting the entire process by which companies create their products. Furthermore, it is reshaping the product itself: the entire package of physical goods, services, and information companies provide to c reate value for their buyers† (Porter and Millar). Now the companies invest more and more money into the introduction of information technologies in order to keep competitive