If the only constant is change, how is your business coping with it? Trouble is, today’s solutions often turn out to be tomorrow’s fatal errors.
In our new, hyper-dynamic and ever changing economy, the business landscape morphs at a rate roughly corresponding to Moore’s Law.
Most everyone can agree that business productivity can be traced to an organization’s ability to successfully execute on overall strategy. What else ensures business success? Businesses need engaged and highly productive employees executing on goals that are aligned with the organization’s strategic objectives.
Technology can be used in various ways depending on the industry. Businesses can use technology in manufacturing, use it in improving customer care, use it in transportation, use it in human resource management, use it in business communication, use it securing and transferring of business information, use it in branding and product promotion, and use technology to improve their services or products as a way of gaining competitive advantage.
Managers have the responsibility to make decisions that ensure that the business is successful. The authority of the general manager may include hiring the technical personnel to oversee business technology, or the purchase of tech related equipment or manage projects.
Analyze performance – Today’s technology provides advanced reporting and business analysis capability to help you gain a deep understanding of business performance, customer preferences, and market trends. And, your executives and business managers can access performance metrics and analytical reports and use this information to work together to set or redesign strategy.
Understanding their strategic strengths and weaknesses is critical to charting the course for achieving and sustaining market leadership. We have seen giants of industry fall and upstarts rise to unimaginable heights. What were the complex ingredients for success or failure? In-depth analysis and years of study help us to answer these questions as they relate to the use of technology.
The technology a business employs may be used as a catalyst for innovation: Using technological tools like the internet can help the business find relevant information which can be used to expand their business and also create new opportunities or trading partnerships.
Business managers must accomplish a sort of IT alignment which is in line with the planned future strategy of that business. A specific manager should be charged with approving all technology investments; and process, roles and actions required to implement a corporate information network with strong dependence on a standard architecture at the enterprise level, outsourcing and being able to rapidly support business change.