The Role of IT Clusters for International Business in North West London
As an emerged business trend, the vast applications of information technology (IT) on economic organizations are immense and immeasurable. Organizational systems and functions are now considered effortless and unproblematic because of IT. IT also expanded the opportunities concerning product development processes or innovations that provide organizations with cost and competitive advantages. In a much broader sense, information technology strengthens the business value of every organization. The parameters of using IT for internal affairs have profound impact specifically for core management responsibilities (Gunasekaran, et al, 2002). To wit, IT impacts three key issues which are quality, usefulness and usability.
With the Silicon Valley as the primary actor, IT clusters are built to cater to the needs of the organisations especially those organisations that are extending its operation both geographically and virtually. Clusters are not the solutions but they provide immeasurable results. IT clusters is where businesses meet, network and cooperate which might lead to successes each of them could not do alone. Advantages of IT clusters for instance include opening up of markets and reducing costs, specialisation among local firms, improved productivity and competitiveness through both cooperation and competition and larger networks even for small firms.
Further, there are well-established IT clusters in Singapore, Scotland, Finland and Ireland as well as Israel and India and their advantages is now becoming more apparent economically and technically. These countries recognised the knowledge economy hence the initiative to tap the IT-superseded economic model must be pursued. Maguire (2003) even said that radical ways of thinking and doing while also taking advantage of speed, flexibility and nimbleness in seizing market opportunities combined with the presence of entrepreneurial talents and technological expertise are critical. With this said, the study will explore the role of IT clusters for international business in North West London.
2.0 Problem Statement
The problem that this study will address is - what roles do IT clusters play for international business platform in North West London. Research questions will include:
1) How IT clusters could support the development of international business environment in the place?
2) Are IT clusters capable of helping in the development of international business in the place?
3) To what extent do IT clusters could contribute in the development of international business in the place?
4) What are the likely challenges?
3.0 Study Objectives
The main aim of this study is evaluate the position, function and responsibility of IT clusters in the development of international business in North West London. Specifically, the study purports to:
· Determine the benefits, detriments and challenges for IT clusters in international business development
· Distinguish how IT clusters will impact the success of international business particularly in North West London
The research strategy that the study will utilize is the descriptive method. A descriptive research intends to present facts concerning the nature and status of a situation, as it exists at the time of the study (Creswell, 1994). It is also concerned with relationships and practices that exist, beliefs and processes that are ongoing, effects that are being felt, or trends that are developing (Best, 1970). In addition, such approach tries to describe present conditions, events or systems based on the impressions or reactions of the respondents of the research (Creswell, 1994).
In this study, primary and secondary research will be both incorporated. The reason for this is to be able to provide adequate discussion for the readers that will help them understand more about the issue and the different variables that involve with it. The primary data for the study will be represented by the survey results that will be acquired from the respondents. On the other hand, the literature reviews to be presented in the second chapter of the study will represent the secondary data of the study. The secondary sources of data will come from published articles from books, journals and theses and related studies.