Cloud Computing and Businesses

Abstract

The primary purpose of this research paper is to determine whether it is a smart, practical and viable decision for a business to adopt cloud computing technology. In order to determine this, the paper expands the knowledge of the reader on the benefits and drawbacks that cloud computing technology offers to businesses and assesses the application of the technology in context of the current global economic environment. The paper also identifies the resources that a business needs in order to successfully adopt the technology and highlights some common barriers that businesses may encounter during the deployment process. Effective management strategies and decision-making processes that are essential to overcome initial barriers in the integration of technology are also discussed in the paper. Moreover, an industry-based assessment of the technology is also covered in the paper which serves to highlight the inherent problems that businesses may face after the integration process and what decisions a business manager may need to take in order to successfully tackle them. In the end, the paper attempts to answer whether embracing cloud computing technology is a smart business decision.

Table of Contents

Abstract4

Cloud Computing and Businesses5

Introduction5

Research Question6

Literature Review6

The Current Global Economic Environment8

Introduction to Cloud Computing Technology9

The Three Cloud Delivery Methods12

Successful Deployment of the Cloud13

Barriers to Adoption of Cloud Computing Technology15

Common benefits of Cloud Computing17

Other major benefits that cloud computing offer to businesses20

Matters of Finance20

Competitive Advantages21

Advantages of cloud computing to businesses in developing ccountries22

Drawbacks of Cloud Computing23

Jurisdiction and Data Security Issues23

Tax Issues25

Auditing in the Cloud26

Contractual Obligations with Public Clouds27

Preventative measures for inherent risks27

Industry-based assessment of cloud computing to aid decision-making29

Broadcast Media and the Cloud29

Healthcare and the Cloud30

Conference Management System Security32

Conclusion33

Future Research35

Lessons Learned36

References37

Cloud Computing and Businesses

Introduction

In an era of economic uncertainty and cut-throat competition, it is common for businesses to devise effective strategies in order to enhance their revenue generating capacity. Businesses need to make decisions that promise to enhance their revenue-generating capacity while also endowing them with the skills to manage all their resources in a better and more efficient way. The role of technology in today's organization is an important one as several modern technological innovations have been successfully integrated into the business process to increase the efficiency. Technological superiority contributes towards success and it is essential that organizations stay abreast of emerging technologies to maintain a wide competitive moat in a challenging market. By doing this, the business will be able to save useless spending and avoid the costs that can be avoided.

However, where technology may promise a business certain benefits, it also has a tendency to acquaint it with unforeseen problems. For instance, conventional business applications that are commonly used among businesses have traditionally been complex to set up, and costly to maintain and upgrade. The software and hardware resources that are needed to run and upgrade them are challenging too and they demand a significant portion of businesses funds, affecting the profit margins of the business in the long run. Moreover, the applications need to be upgraded frequently in order to support the ...