Running IT as Business in the Business by Taking Innovative Approach

IT is the business in the business and the innovation engine of the entire organization. 

The digital world is so data-driven and information-intensive. Organizations rely more and more on technology, technology needs will only expand. IT is being used more and more around the globe for revenue generating initiatives and the business is becoming IT. IT has also to be run as the business in the business by taking varying innovative approaches.

Effectively and efficiently manage existing and new technology as well as the exponential growth of information: Digital IT should help the business unlock both digital performance and potential by effectively managing existing and new technologies. Making IT organization a profit center is what the real challenge is because it requires some kind of rethinking and reinventing the corporate processes and returning the business capabilities. That requires IT management to make a serious amount of positive communication whilst continuously looking for the cost-efficient replacement of unstable or old processes. IT leaders should position and maintain the IT organization to ensure that it addresses both “IT effectiveness” and “IT efficiency.” Information is one of the most invaluable assets of the business besides people, IT should manage information management lifecycle effectively, in order to capture real-time business insight, identify opportunities for growth and lead business transformation wherever analysis and assessment indicate the potential benefits of change efforts. IT is the business in the business and change agent of the entire organization.

Help to innovate businesses by scaling and optimizing: Most IT specialist is eager to use new technologies and gadgets. But there is a significant difference between technical proficiency and business innovation. Running IT as a business is not just about doing IT innovation but has to innovate business by scaling and optimizing. CIOs should think as an intrapreneur and act like a startup manager, go out and talk with varying shareholders, business executives, customers, partners, to know their pains and gains and understand their tastes and current and future needs. IT can break digital transformation if it cannot ride the learning curve and catch up with the emergent business technological trends, or it simply lacks changeability to make continuous improvement and on-time delivery in a proactive way. Information Management Systems are the backbone and become the making and breaking point of digital transformation. IT has to shift from bits, bytes, and lights to information, intelligence, innovation, integration, improvement, and interface. The challenge is about getting out from the daily burden, and spend more resources and time on innovation-related activities, scale-up, make innovation a persistent and shared reality across functional boundaries and geographical territories.

Apply technology in new and innovative ways and run IT as a superglue for integrating a highly innovative ecosystem to stay ahead of competition and industry: Digital organizations are like the switch of the hyperconnected digital ecosystem. Today’s information technology enables companies to leverage their various environments, or ecosystems, to chase innovation opportunities, take structural innovation approach, and accelerate innovation speed. There are many components in an effective innovation environment or ecosystem, such as innovation leadership, innovation culture, innovation capability, practices, tools, recognition system measurements, or risk approach. Each component by itself may not cause a good environment, but collectively, they can weave an innovation ecosystem. Every organization needs to develop tailored innovation practices by leveraging effective technologies, tools or methodologies and apply them wisely with the expertise to really add value or drive innovation systematically.

IT is the business in the business and the innovation engine of the entire organization. Innovation is not just about technology, Innovation is not always equal to the latest gadget. It’s about people, culture, partnership, and manners, etc. IT can innovate by an in-depth understanding of the business. It’s the partner that works both "on the business" and "in the business," not just "for the business."

Posted in: Digital Master,IT Innovation,IT Transformation