The "IT vs Business" meme is popping up on Twitter again.
1. Humans have always depended on tools and technologies. Therefore the use of technology is inextricably intertwined with what it means to be human. There are multiple kinds of "technology": chemical, electrical, mechanical, nano, etc, etc.
2. Information Technology is one form of technology, predating automated computation. We can look to the theories of Shannon and Church/Turing as useful scoping. If you are dealing with a problem where those theories (and the edifice of knowledge built on them) are material concerns, you are dealing with IT.
3. Replacing "IT" with the generic "technology" is a loss of precision. The formulation "technology enabled business" is general to the point of triviality. Given human use of and dependence on tools, when has business ever NOT been enabled by technology of some sort? Which "technology" are we talking about?
4. The interesting question is not "IT versus the business" but rather, "to what extent is a business endeavor enabled or constrained by excellence in IT?" as defined in #2 above.
Sometimes, business is constrained by IT capability. Sometimes, it is constrained by other factors such as legal capability, access to capital, excellence in bulding skilled staff, product R&D in NON-IT technology, or multiple other factors.
See again this post on IT value: "IT Value is found in qualifying the organization to participate in information-rich, transactional environments, and -- to the extent that performance depends on excellence in managing information -- in elevating this performance above peers."