cantly, but it also allows corporations to do many things that were not possible in the past. It is a proven fact, from a survey of chief information officers (CIOs) that roughly 30 percent referred to Information Technology used for strategic reasons as their top concern, and Information Technology used for cost cutting was ranked as the third concern. At first IT systems were primarily oriented toward cost reduction, mostly to automate as completely as possible those functions that were previously performed by humans. Information Technology systems worked toward adding value, by increasing effectiveness or generating new products. What are the benefits of implementing IT?The benefits resulting from Information Technology benefits were in many different forms such as allowing all firms to accomplish tasks they had been doing before at reduced costs, it opened up possibilities to do things never attempted before, also allowed firms to "re-engineer" parts of their companies and make better strategic positions. The Information Technology had improved the companies planning and decision making efforts, cost savings, and maximized information available for the corporations.What are the setbacks of implementing IT?Although there has been much success of Information Technology, there have also been some setbacks and constraints as well. Decentralization was noted to lead to situations where it was difficult to keep a link between the various IT networks in different parts of a corporation. Certain systems were at times highly compatible, while other systems did not adjust as well. Another key issue is availability of skilled staff, as well as the difficulty of integration of new technologies and industry standards with their existing installed database. Since new technology consistently outperforms existing technology for new products, but it is not implemented as much as the older applications it replaces, so companies develop duplications...
