role of it in business strategy

Therefore, a typical business structure always possesses three levels. IT Strategy creates IT Capability. Probe deeply into the types of projects that you can expect, the backgrounds of your future teammates, and the actual day-to-day tasks of the job. As IT solutions continue to increase the productivity, efficiency and effectiveness of business operations and communication, business will continue to rely on Information Technology for success. We previously defined management as the process of planning, organizing, leading, and controlling people in the organization to effectively use resources to meet organizational goals. Strategic Uses of IT in Business. A strong IT strategy provides a blueprint of how technology supports and shapes the organization's overall business strategy. Another role of IT in business is to improve the efficiency of operations so that the company can complete tasks quicker and cheaper. Rather than only being able to reach the company during business hours, customers can conveniently interact with the company on its website and through social media, email and custom instant messaging services. Thanks to IT, getting the latest information about your competitors and the market is as easy as searching Google on your computer or smartphone. Setting out a well-planned business strategy will ensure your entire organisation is working towards the same goals and instills a sense of shared responsibility amongst employees. It’s time to build an effective plan, including the development of priorities, a … Importance of Strategic Management. If this consistency exists and applied, there would be deployment of organizational resources in those areas where they find better use. This often happens with the help of enterprise software and a centralized company database. Currently Big data, Google Analytics and Microsoft CRM Dynamics are also great tools to extract useful information which can impact on decision making. Bolted on to the business strategy, rather than forming an integral part of it. Higher level of customer satisfaction is the key to success which cannot be achieved without a real time customer support process. Though it may sound easy, the role of a business strategist is challenging. Enterprise organisations normally use customer relationship management systems (CRM) to hold valuable data for understanding customer behaviours and future needs. Accountants increasingly play a key role in developing and implementing business strategy. Rather than having to get workers to count and monitor inventory, companies can use inventory management software that checks real-time levels, provides helpful reports to managers and can even trigger orders when the supply is low. Unlike a standalone decision or goal, a strategy is a coherent set of analyses, concepts, policies, arguments, and actions that are in response to a high-stakes challenge. A CIO who provides leadership on both the demand and supply sides of their role. Customer relationship management software has automated common sales and marketing tasks such as generating leads, sending promotions and tracking metrics. It is vital for companies to understand the four different roles for the Strategy Officer. Freelock: Information Technology in Business: The Big Picture. The right CIO in … Once an IT system is in place, it will be used to communicate between employees, customers, and other businesses more than any other medium. Currently online shopping, digital marketing, social networking, digital communication and cloud computing etc are the best examples of change which came through the wave of information technology. Strategy management provides the “glue” that holds these processes together. A critical assessment of the current and historical performance of your business and factors impacting it … Currently web market is booming at a very fast pace because most of the entrepreneurs have understood that the long term success in business is not possible without digital presence on the internet. Thanks to the Internet Technology that has enabled us to communicate with millions of potential or existing customer in the real time. Speed and accuracy are at the heart of making right decision for your business. Now, the managers can manage or monitor their organisational resources virtually anywhere in the world by using their personal computer, laptops, tablets or Smartphone. Strategies define the business area both in term… Helps in managing resources; Businesses should realize that their resources might run out. Monkey Business Images/Stockbroker/Monkey Business/Getty Images. 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