IT Strategy and Management of Li and Fung Company
Whilst the firm is aware of the benefits of new information technology, they are a bit skeptical about losing their traditional grip on the business. They are also skeptical about outsourcing competent IT specialists as it may put to risk some information seen as confidential to the organization. However, it is recommended that the effective use of the internet through specially designed websites is one of the most viable ways of ensuring competitive advantage in the contemporary period which is characterized by a highly sophisticated medium of communication in the form of the internet.Information and technology (IT) generally refer to the technical aspect of using computers and telecommunications in some instances to store, retrieve or even transmit data while information systems (IS) refer to the soft process of manipulating and processing of information (Strydom 2004). The new information and communication technology has brought about dramatic changes to the way organizations conduct business during the contemporary period. The advent of the internet, in particular, has revolutionized the ways people interact and exchange information. Similarly, it is now easier for businesses to disseminate or process information as well as link with its stakeholders instantly with the aid of the internet.In attempting to understand clearly the challenges facing Li amp. Fung in the given case study, it is imperative to give a brief explanation of what the internet is. The internet is most commonly defined as a global network of computer network that brings together all of the computer networks, information on them on a single computer monitor (Du Plessis F. et al 2005). Marketing communication forms the backbone of all information dissemination related processes within an organization in attempting to satisfy the needs of the targeted audiences. In this situation, new information and technology form a pivotal role in providing a direct link between the organizationand its stakeholders.