IT plays a significant role in managing information-knowledge-insight cycle and fostering innovation by leveraging disruptive technologies and enriched information flow.
The “art of possible” to reinvent IT in the digital age is to deliver the value of information in helping businesses grow, delight customers and do more with innovation.
IT Led Innovation
IT Innovation Management Playbook Technology is pervasive and the information is abundant, business initiatives and digital transformation today nearly always involve some form of technology implementation or information processing. IT plays a significant role in managing information-knowledge-insight cycle and fostering innovation by leveraging disruptive technologies and enriched information flow. One of the most appropriate titles for CIOs is “Chief Innovation Officer,” who plays a critical role in orchestrating innovation symphony. Here are five critical components in the IT innovation management playbook.
Uncover Science Behind Breakthrough Innovation Innovation is to have a new perspective on things. Innovation is what leads to differentiation. Being able to innovate or close is being able to think and create new things based on the business or the customer’s needs. The goals of innovation, especially breakthrough innovation, should focus on people, the long-term trends and business vision. Innovation is both art and science. It's about creating something new or better based on a combination or modification of previous attributes or approaches. Every organization is different, every innovation initiative is also unique, there is no one size fits all formula. Innovation is a process which can be managed, In this regard, innovation is more science than art.
IT Enabled Organizational Capacity & Capability on Demand With “VUCA” digital new normal, IT continues to grow in importance to organizations, both operationally and as a competitive advantage. Digital IT organizations achieve high-performance business results and strategic flexibility by developing a set of differentiated business competencies. The emergent IT consumerization trends transform IT from monolithic to mosaic; the arrival of capacity and capability on demand will change the organizational mission, structure, and skillsets of enterprise IT and reinvent IT as a strategic business partner.
Information Management as a Core Digital Capability Compared to digital laggards, high-performing organizations can manage two most invaluable assets in business well: People and information. Nowadays, organizations large or small, process an enormous amount of data, information simply becomes the lifeblood of businesses. Information Management is all about having the right people to have the right information to make the right decisions at the right time. Given this assertion, there is no limit to the value of information in running a high mature digital organization. Information Management is, in fact, becoming the core digital capability of the business.
ITforrechargingbusinessmodel A business model is a way that a company generates revenues and profits. It’s a multi-level, zoom-able schema of how a business or an organization creates, delivers, and captures value for stakeholders, employees, customers, investors or society. When do you use a Business Model? Regularly you use it to review, adapt or redesign the basic building blocks of a business. With rapid changes, a business model is structural and can be both created and changed very quickly. The emerging digital trends bring significant opportunities for businesses to pursue growth through the methodical examination of alternative ways to solve business problems; the abundance of information and the lightweight digital technologies also play the crucial role in recharging business models and renovating traditional organizations to reach the next stage of the business development cycle. What are the multitude of influences IT can make to catalyze the business growth, how to leverage IT for recharging business models and accelerate digital paradigm shift?
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