Exploring The Impact of Information and Communication Technology (ICT) on Innovative Businesses: An Investigative Analysis

Abstract

Purpose: In today’s rapidly evolving business landscape, the integration of Information and Communication Technology (ICT) has redefined the parameters of innovation, challenging businesses to adapt and leverage technology-driven solutions to maintain competitiveness. This investigative analysis delves into the profound impact of ICT on innovative business, shedding light on the transformative role of technology in reshaping strategies, processes, and outcomes. Research Methodology: The paper employs a mixed-methods approach, combining qualitative six case studies to comprehensively explore the intersection of ICT and innovation. Result: The study examines how businesses across industries have harnessed ICT to revolutionize their product development, marketing, supply chain management, and customer service processes. The framework of the Technology-Organization-Environment (TOE) model and the Innovation Ambidexterity concept guide the analysis, offering theoretical underpinnings for understanding how technology interacts with the organizational context and fosters both exploitative and explorative innovation endeavors. Conclusion: The transformative potential of ICT comes hand in hand with a set of challenges. The research elucidates the barriers encountered when integrating ICT into innovation strategies, including data security concerns, skills gaps, resistance to change, and regulatory complexities. By addressing these challenges, businesses can unlock the full spectrum of benefits that ICT offers. Keywords: Information and Communication Technology (ICT), Innovation, Product Development, Technology Organization Environment, Supply Chain Management.