ROI of Implementation
Journey50
Katherine_Askew_Week1_CMGT583_BusinessAndITstrategy.pptxBusiness and IT Strategy
Katherine Askew
CMGT 583
February 3, 2020
David Conway
1
Overview
Identify the commonalities in the business strategy and IT strategy.
List the critical elements of information technology needed.
Describe the importance of the critical elements.
Identify recommended changes to better align the two plans.
Describe the value added the business should realize if these recommendations are adopted
Commonalities Between Business and IT Strategy
Both strategies aim at bringing about business value
They complement each other until the overall desired goals and objectives are met.
They both require inputs in terms of resources such as capital.
An organization must set aside the resources
There are commonalities between business and IT strategies. First, both aim at creating value for a business organization. The goal is to realize the desired business value. Additionally, the two need to complement each other. It means that they should both produce results that are similar. Further, both the strategies require inputs in terms of capital and other resources (Yeganeh, 2019). These resources ensure that the set goal is being realized. An organization must set aside resources that will help drive both strategies.
3
Critical Elements of IT Required
To realize the strategy, there are critical elements of IT required. First, human resources are required to draft and implement the strategy. This entails skilled and competent IT professionals. Also, an information technology system that meets the business needs is required. It must ensure that the information is centralized and secure from access by unauthorized parties (Yeganeh, 2019). Reliable data sources are required so that the IT system can help provide actionable information to the organization. Reliable data will guide the business decisions that are made.
4
Human resources are needed. Skilled and competent IT professionals should be assigned the responsibility.
A new information technology system is required.
It must meet the business needs and ensure security of information.
Reliable data sources are required. The data will be analyzed and help guide business decisions.
The Importance of the Critical Elements
The resources are what the company needs to drive the business goals.
An IT system requires human resources and credible data sources for it to provide the desired outcomes.
If the company works on the two, it will attain better business goals.
The critical elements outlined in the previous slide are very important. First, they are primarily what the company needs so that the desired goals can be realized. The IT strategy needs the key resources which are human resources and credible data sources. Mainly, an IT system will provide the best outcomes if it can collect information from credible data sources. When these two are worked on, the IT strategy will bring about the desired business value.
5
The Recommended Changes
To better align the two plans, there are recommendations that the company needs to consider. First, it should hire skilled and competent IT professionals who will help draft and implement the IT strategy. The IT team will work with other teams such as marketers so that all teams can work on the same goal. Actually, collective performance is deemed the most important approach. All teams need to understand the goal that should be realized and created synergy. This will create a new culture that will be about pursuit for the targeted business goals.
6
The company needs to hire skilled and competent IT professionals.
They will be required to draft and implement the strategy.
They will work with other teams such as marketers to ensure all processes are aligned with the overall desired goal.
Continued….
It is important that a new culture is cultivated.
The culture is about aligning IT with business goals.
Motivation and performance evaluations will help realize the new culture.
All teams should be motivated through rewards and provision of all resources they might need.
Performance evaluation should be done to ensure process align with the desired goals.
In addition to the creation of the teams, the management must focus on cementing a new culture of aligning business and IT goals. As such, motivation and performance evaluation need to be undertaken. Motivation entails providing the teams with the required resources and rewards whenever they realize certain milestones (Thompson, 2017). Also, performance evaluation should be routinely to achieve that the desired goals.
7
The Projected Value
Implementing the recommended changes will create value for the organization. Information will be collected and analyzed fast, hence help the organization make better decisions. The IT system will enable the business to learn more about consumer trends and preferences, thus align the supply chain with the trends. Which will allow it to provide better services to the customers. More so, the company will attain a better understanding of the consumer markets and will implement strategies that align with the market factors.
8
Implementation of the changes will create business value.
The company will gain a better understanding of the consumer markets.
It will provide services and products that meet the needs.
A high customer satisfaction level will be realized.
The development will strengthen the company’s brand.
References
Thompson, J. (2017). Principles of Marketing. New York, NY: Larsen and Keller Education .
Yeganeh, K. (2019). Major Business and Technology Trends Shaping the Contemporary World (1st ed.). New York, NY: Business Expert Press.
