The evolution of Information and Communication Technology (ICT) over the last 40 years has had a profound impact on the development and functioning of society, businesses, Governments and nations as ‘competitive states’ (Al-Jaghoub & Westrup, 2003). In fact, it may be argued that no single era of technological advancement has had a more significant impact on the way we live and work. We live in an ICT enabled world where all our activities are now in some way influenced, inspired, and linked through information and communication technology. But what exactly is ICT and of what strategic importance is its use in shaping the future of business, governments and nation states? This paper will attempt to answer these questions by reviewing relevant literature in the field. This paper will support the view that the strategic use of ICT is now essential to the creation of a competitive advantage for firms (Barney 1991; Porter 1996), the efficient running of governments and the creation of competitive positions for emerging nations in an integrated world.