Information technology refers to both the hardware and software that are used to Create, store, retrieve, and manipulate information
Evolution of IT Industry 60’s & 70’s – the Mainframe 80’s – the Desktop PC 90’s – Internet and Accelerated use of Computers 1998 – Y2K, boom in Telecom and dotcom start-ups – Offshoring begins 2001 – US Recession and increased Outsourcing
Role of IT in Business Automation of Specific functions Manufacturing Resource Planning Enterprise Resource Planning CRM/ EDI/ SCM
2. Market forces as enablers of industry competitiveness
Source: The Economist Intelligence Unit’s 2008 IT competitiveness survey
Six factors work together to create a sound environment for the IT sector.
ample supply of skills;
an innovation-friendly culture;
world-class technology infrastructure;
a robust legal regime that protects intellectual property such as patents and copyrights;
an open, competitive economy; and
government leadership that strikes the right balance between promoting technology and allowing market forces to work.
Four Asia Pacific economies – Taiwan, Australia, South Korea and Singapore – are ranked among the top 10 in the world in information technology (IT) industry competitiveness,
Factors affecting industry growth
3. Competitive broadband markets help cultivate strong IT sectors . Fast, reliable and secure Internet access, The high-quality networks and telecom liberalization spur IT outsourcing industries in countries eg., South Africa, Bulgaria, Ukraine and Vietnam 4. The brain drain of IT talent from emerging markets shows signs of slowing or reversing, as training opportunities expand in markets and IT professionals return home to work in established technology firms and start-ups. Factors affecting industry growth
Companies are expanding their research centers in other parts of the world where there is a surplus of engineers. Recruiting practices are changing with more emphasis of hiring foreign talent/ returning natives .
Investing in people is mission-critical for domestic IT industries. Sourcing talent—particularly employees armed with “soft” management and analytical skills—will be among the toughest challenges IT producers will face in the coming years.
Need to be conscious about changing demographics and social attitudes of the younger generation. Focus on improved networking skills both online and offline to seek and counsel “passive job seekers”
Relationship management vs transaction management. Encourage candidates to take responsibility for their own career development.