Importance of Information Technology Governance in Modern Business Environment

Abstract

The rise in technology has driven businesses to innovate, and innovation has become the key element for the path to success. Every business is getting inclined towards Information technology for delivering value and satisfying the custom erneed Information technology has been aligned with the business strategy to improve efficiency and effectiveness, which helps the company differentiate itself from others. The reason for this exploration work is to identify the need for Information technology governance and the effect it has on business. The majority of the business organization faces implementation issues, which do not have long-term solutions and sometimes responsibility is not well defined, and it causes problems. A qualitative research method will be used from primary and secondary sources, and some data will be collected via a questionnaire which is answered by executives and IT Managers. Also, a comprehensive review of the literature is conducted Today, most of the business is facing issues in applying Information Security, Compliance, IT Project Management, Policies implementation, Executive Support and allocating roles and responsibilities for key stakeholders in the Information governance system. Implementation of Information Technology governance will not only deliver business value but it will also boost the confidence in the business by providing support in decision making and setting organizational goals.