The constant evolution of technology, along with the emergence of new and more complex ways of using it as a complete networking and globalization of the economy, and systems mean that, more than ever, information technology (IT) offer unique opportunities, while significant risks and high costs.
Costs, risks and opportunities make IT a strategic element for growth, maturation and transformation of organizations, but also make them critical to the company success and survival.
There is a school of thought that considers IT as a key driver of the economy in the XXI century. While this can be debated, the MSc in IT Strategic Management is increasing in number of students and there is complete agreement that future business needs and competitive advantages are supported by the intensive use of IT.
Those organizations that do not pay attention to IT at least the same attention they have traditionally paid to other functions such as production or financial, will lose their competitive advantage and will eventually be out of the market. Conversely, organizations that focus their efforts on the government IT will see their IT investments return value to the company, enhance business and keep them in progress and know the risks inherent in the use of technology.
Every organization should consider an IT plan that considers actions in each of the following:
- Lead: Alignment with business objectives to build mechanisms to deliver value.
- Create: Return value of the investment in IT.
- Protect: Risk management to preserve the value of assets.
- Act: Resource management and IT development plan.
- Monitoring: Evaluation of the implementation and performance of the plan to realign the government established IT with business if necessary.
Knowledge and Reasoning for IT
Human capital and knowledge cannot be called “assets” of the company, but can be considered strategic “resources” of the organization. The management of both knowledge and reasoning will be crucial to the success of XXI century organizations.
The role of IT to identify, enhance and develop both knowledge and reasoning are crucial.
“Only 15% of the market value of a company lies in its tangible assets, while the remaining 85% lies in its intangible assets most of them in the form of information.”
IT have a double-sided: On the one hand require large investments and accompanying risks can potentially destroy the business; while at the same time offers exceptional opportunities for growth and business development.
The directors and manager must be aware of the impact of IT in the organization, be able to meet its profitability and be prepared to understand and manage the risks inherent in its use. Those organizations whose managers do not understand and prepare for the new era will be jeopardizing their ability to adapt and therefore are taking a very high risk of extinction.
