Business information technologies as the main aspect of the competitive advantage of modern business.
Abstract
The article reveals business information technologies as the main aspect of the competitive advantage of modern business. The use of innovative information technologies allows the enterprise to develop much faster and earn more profit. In order to survive in modern conditions, business enterprises must change the already existing structure and achieve consistency between business strategies and IT technologies. In today's conditions, time reduction becomes the basis for obtaining competitive advantages. Business strategies based on time reduction bring maximum competitive advantages. It is noted that in the current conditions of the development of world markets, the key factor determining the competitiveness of an enterprise is the availability of a unique information resource, which is based on the enterprise's business strategy and takes into account the main indicators of the business sphere. Only the availability of an information resource is not a source of competitive advantage. Possession and management of a unique information resource provides opportunities for business enterprises to improve the use of traditional factors of production and economic resources, or to combine them with new resources, which ensures greater effectiveness compared to competitors. At the enterprise level, the implementation of business information technologies enables faster collection and analysis of information for making strategic management decisions. Information technology as a tool helps to reduce costs, increase the profitability of the enterprise, and increase labor productivity, provided that it is fully aligned with the strategies of the enterprise. It is emphasized that the use of business information technologies gives the enterprise a significant advantage over competitors, allowing more efficient allocation of company resources, personnel management, cost reduction, etc. Thanks to investments in business information technologies, enterprises have the opportunity to change their business and, as a result, increase their market share, occupy a new niche, establish closer cooperation with customers and suppliers.
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