The New Book “100 IT Charms” Introduction Chapter V: IT as the “Center of Possibility” ~ Future of CIO

Sunday, June 16, 2019

The New Book “100 IT Charms” Introduction Chapter V: IT as the “Center of Possibility”

11:21 PM Pearl Zhu No comments

The art of possibility is achieved by running IT as the business to catalyze business growth, delight customers and harnessing innovation.

With the overwhelming growth of information and pervasive technology, to keep IT relevant, IT management shouldn’t just practice some transactional activities or act as a business controller only. IT management has to explore both the art and science of digital management discipline, run IT as the “Center of Possibility,” accelerate its performance and unlock its full potential.

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IT as innovation glue: IT is the only entity in the organization supposed to understand business entirely, be able to connect the wider dots for sparking creativity and functions as the super glue to integrate important business elements seamlessly into unique organizational competencies such as innovation. The highly innovative organizations depend more heavily on its technological knowledge and IT-enabled capabilities to develop and commercialize innovation. IT plays a crucial role in creating a disciplined and managed space for developing and testing new models, products, and business approaches. IT helps to glue up the innovation framework which enables the business to manage innovation in a structural way. IT can help to scale up innovation practices, amplify innovation effects, and set up innovation platforms for executing innovative ideas by relying less on silo functions and more on cross-functional collaboration. IT, in fact, needs to do both right, innovation and standardization. IT leaders must plan for, articulate, and execute to match the demands of the business and customers, and leverage IT to innovate for the business’s long term success.

IT as a “software Start-Up”: IT is being used more and more around the globe for revenue generating initiatives and business is becoming IT. IT has also to be run as the business in the business by practicing intrapreneurship and taking varying innovative approaches. Most IT specialists are 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, understand their tastes and current or future needs. IT management 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 spending more resources and time on innovation-related activities, scaling up, and making innovation a persistent and shared reality across functional boundaries and geographical territories. IT can innovate by gaining an in-depth understanding of the business and working both “on the business” and “in the business,” not just “for the business.”

IT as a business model shaper: The abundance of information and lightweight digital technologies play a crucial role in renovating traditional organization to reach the next stage of the business growth cycle. The transcendence of information management to innovation management enables IT to help the company recharge the business model and build a competitive advantage for achieving long term business prosperity. Companies across vertical sectors are recognizing that IT could become the magic behind emerging business models and it is roughly coupled to the business strategy. Digital IT leaders are able to lead boldly and imagine the mission and business models of tomorrow brilliantly if information management is managed effectively to unleash the full potential of the business. CIOs will contribute to revenue generation when they are part of the senior executive team responsible for brainstorming business model creation, strategy management, and revenue targets. Turning business model is all about foreseeing and applying emerging trends, that’s where you win the competitive advantages. The strategic value proposition of IT is how to leverage resources and assets of the IT departments to create the optimal business value and contribute to new business model development for generating revenue growth, enhancing business brands, exploring new markets and increasing market share.

Modern IT has many faces. The art of possible is phenomenal to rejuvenate IT. Companies that continue with the status quo will not thrive in the ever competitive digital business dynamic because the most powerful and differentiating tool in all of the today’s business is information which is provided by IT systems. The art of possibility is achieved by running IT as the business to catalyze business growth, delight customers and harnessing innovation. Enterprise IT organizations are likely to be the winner for unleashing the full potential of the organization and achieving the long term business prosperity.