Final answer:
The statement that returns on IT investment have little variation among firms is false as such returns can vary significantly based on how the IT is implemented and utilized within the context of each company's specific circumstances.
Step-by-step explanation:
The statement that there is little variation in returns on IT investment across firms is False. Returns on IT investments can vary greatly among firms. This variability is largely due to several factors, including how well the IT aligns with the company's business strategy, the industry of operation, the firm's management practices, and the ability of employees to effectively use the technology.
For instance, a company that integrates IT investments with a clear strategy and trains its employees to use these technologies effectively is likely to achieve higher returns than a company that invests in technology without a focused approach. The unique competitive environment of an industry can also influence the outcome, as certain sectors may derive more benefit from IT investments than others. Consequently, it is critical for companies to consider these factors to maximize their IT investment returns.