Information Technology – The 21st Century Business Value Driver

• Main Author: Marius Daraban
• Format: Article
• Language: English
• Published: Ovidius University Press 2019-01-01
• Series: Ovidius University Annals: Economic Sciences Series
• Subjects: economic value; information technology; knowledge-based organization
• Online Access: http://stec.univ-ovidius.ro/html/anale/RO/wp-content/uploads/2020/02/Section%20III/10.pdf

One of the most important changes of the 21st century, an information-driven century, is the shift in the paradigm of managing and understanding businesses. Economic value has become more and more difficult to define and understand when looking through the perspective of the information age. The information age has brought information technology “into the spotlight” and transformed some of the classical economics concepts. The qualitative research for this paper has shown that “Information Technology” is a solid 21st -century knowledge-based organization and economic- and business-value driver that business organizations have to capitalize in order to achieve Porter’s business margin. The paper demonstrates that information technology as a business activity is not only a clerical activity, it has morphed to knowledge based organization and a value driver for the business organizations of the information age.