Importance Of I.T in business?

Answer 1

since it is in Corporation section than
IT = Income tax
An income tax is a tax levied on the financial income of persons, corporations or other legal entities. Various income tax systems exist, ranging from a flat tax to a progressive tax or graduated income tax system. A tax levied on the income of companies is often called a corporate tax, corporate income tax or corporation tax. Individual income taxes generally tax the total income of the individual (with some deductions permitted), while corporate income taxes often tax net income, the difference between gross receipts, expenses and additional writeoffs.

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Answer 2

In some businesses, it can mean everything. I just examined a case study of Charles Schwab, where the company was able to offer lower commission fees to customers due to the company's ability to streamline orders, reduce paper, and match buyers and sellers. Without their IT systems, their initial business model wouldn't even exist.

In a more general sense a strong IT department can warehouse critical data that can be used by a company to understand customer behavior and preferences. This information in itself can lead to a competitive advantage that differentiates the firm and can lead to significant market share.

Answer 3

IT is the means to enhance any business. It is technology and helps the business become part of the world and helps the business achieve their goals.

Answer 4

saves time - time=$$
reduces staff - staff=$$
reduces paper - paper=$$
and its absolutely necessary in the 21st century to be competetive, to communicate, to deal with the incredible amount of info we are exposed to on a daily basis.