The changes brought about by the Internet have even broader implications. With the advent of Internet technology, every company becomes a global company, with the means and opportunity to buy and sell from, or strike an alliance with, any company, anywhere, anytime. This golden opportunity brings with it a level of complexity that surpasses anything that all but the most far-flung global enterprises have experienced to date.
The recent explosion of information and information technology (IT) has induced corporate management to utilize its ingenuity in creating the best available means to manage the flow of information, control flow channels, and integrate the different assets (both hardware and software) of IT utilized by the different departments and divisions of the corporation. As companies invest heavily in information-based systems, they are vesting more control in technology strategies and new business models, especially those related to electronic commerce, or e-commerce.
Although the role of information/knowledge is perceived differently by different scholars, the fact that it constitutes an integral component of global business is no longer disputable. According to Peter Drucker, “information is the manager’s main tool, indeed the manager’s capital”. John Rockart of the Massachusetts Institute of Technology’s (MIT) Sloan School of Management maintains that information is an “ingredient” vital to good management. Meltzer views information as having “inestimable value” and further writes that “corporations need information to compete, grow, profit, and survive…. The manager who fails to focus on the information needs of his company will soon be bypassed by a new breed of managers who realize that information is the lifeblood of the corporate body”.
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