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For instance, the economies of scale are undoubtedly surging in this industry.

The characteristics of the IT industry can be identified at a glance due to the outstanding and unique nature of the sector. Besides, recent years have witnessed a substantial growth of the industry, mainly due to emerging trends in the globalization of the world economy. There is a growing base of available IT products that have made it possible for both consumers and business enterprises to easily access the much-needed services and products (Hill & Jones 65). It all begins with the computing system, software and hardware development, creation of IT management systems, as well as the study and design of IT knowledge and infrastructure. For a complete IT industry, several components come into play. The fact that computers and the associated information systems are utilized by all organizations in the contemporary explains why the IT industry is fast on track in accelerating economic growth both at the local and global scale (Grünig 144). The needs of enterprises and consumers in terms of both insatiable demand and economies of scale have significantly contributed towards the precedent growth of this sector. So to speak, this industry is the most robust in the world today and especially in the industrialized countries.

Needless to say, the IT industry has grown into a giant economic accelerator throughout the world. The modern global economy is largely dependent on the Information Technology (IT) industry in driving communication needs as well as providing the much-needed software and hardware products.

This was through the adaptive enterprise strategy that spelled the type of technology and services as well as the practices to be used. In 2003, HP came up with methods of getting the best out of investing in IT. For instance, because of its significant market strength, it was able to merge with Compaq. In addition, this innovative focus has attracted many other great and successful companies to it. Over the years, HP has seen significant growth in its market changes that have been accompanied by success in business. It has been able to get into new markets and offer better products and services through its innovative solutions to IT hardware and software, as well as emerging technologies.