Significance

The importance of technology as a component for enhancing enterprise agility is primarily due to the disruptions that are happening as a result of rapid technological inventions. If a new tech invention suddenly seems to appear from nowhere and gains mass adoption, this could threaten the survival of well-established businesses. Kodak going out of business due to digital cameras, Amazon becoming a serious threat to physical retail stores across industries, and Airbnb shaking up the hospitality industry are just a few examples of the swift and hard-hitting impact that technology is having on organizations.

The role of technology has rapidly changed from supporting a business to being at the core of the business, thereby becoming the driver for creating and sustaining competitive advantage. The following diagram shows the progression of how technology has moved closer to the business world:

Figure 9.1: The relationship between technology and business

Any enterprise not giving strategic...