Wednesday, December 2, 2015

Digital CIO’s Agenda VIII: IT Strategy-Execution Management

Strategy execution is no longer linear steps, but an iterative continuum.

The “Future of CIO” Blog has reached 1.1 million page views with 2300+ blog posting in 59+ different categories of leadership, management, strategy, digitalization, change/talent, etc. The content richness is not for its own sake, but to convey the vision and share the wisdom. 

The strategy is the focal point of the “Future of CIO,” and the pillar of organizational existence, its design, structure, functions, vision, and mission. A real strategy is neither a document nor a forecast but rather an overall approach based on a diagnosis of a challenge. CIOs as business strategists: How do you manage strategy execution lifecycle effectively?

IT Strategy-Execution Management

  • IT Strategy as an Integral Part of Business Strategy: The biggest challenge now is the increasing rate of change, and this isn't going to change! The objective of the IT strategy is not just to be aligned with business strategy, but the IT strategy is an integral part of business strategy. IT strategies, services, and solutions, absolutely need to be able to respond in an agile way and change themselves! In detail, how to craft a good strategy, and how to execute it effectively?

  • IT Strategy Planning Scenario: Preparing a strategic plan is important as it points the organization in a direction where it can maximize its value position and reap as many benefits as possible. This direction must allow for economic, market or customer change and let business adapt swiftly. Alternatives and adaptation are the keywords to survival. To put another way, strategic planning simply answers the two questions: Where will you compete and what do you need to do to win? Now information and technology leads to disruptive innovation more often than not, so CIO as a strategist: What’s your strategy scenario?

  • Is IT Strategy Equal to Digital Strategy: The biggest challenge now is the increasing rate of change, and this isn't going to change! The current strategy making methodologies are out of date mainly because digitalization is driving unpredictability, demanding a more rapid strategy methodology that quickly can adjust to new market conditions. So how relevant is the Digital Strategy for the organizations today? And is IT strategy equal to digital strategy?

  • Do you have Enterprise-Wide Data/Information Strategy: Data is life blood in modern businesses today, however, from industry survey; a very real gap exists with just over one-third of respondents having an enterprise-wide information management strategy in place currently. What’s holding these organizations back from building out an enterprise-wide information management strategy? What’s needed to close the gap? Also keep in mind, data/information strategy needs to be the key element of the IT strategy, which is also an integral component of the overall corporate strategy.     

  • CIO as Strategist: Is One Page Strategy Practical: For many organizations, the business strategy documents are “shelf-ware”, not shareware. Albert Einstein’s simplicity principle: Keep things as simple as possible but not simpler; should also be applied to strategy making, but is one-page strategy practical or too empty.

  • Five Key Factors in Strategy Execution. Strategy execution is difficult. A recent executive survey indicated that execution excellence was the number one challenge facing corporate leaders globally. Statistically, about two-thirds to three-quarters of large organizations struggle to implement their strategies. Why does strategy execution unravel, and what are the key factors to lead the effectiveness of strategy execution?
  • How do you Measure Success of Strategy Execution Program? The purpose of the strategy is obviously to enable the organization to reach its strategic objective or vision. So, to measure the strategic execution is about how well organizations actually reach that goal or vision. What are the multifaceted aspect or logical steps to measure the success of your strategy execution program?

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