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ICT Trends: Market Shifts
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Systemic
Innovation: 7 Areas
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Business Innovation: The Role of the Chief Information Officer (CIO)
Today, there is a need for information technology (IT) to enable
business innovation.
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Benefits of e-Business
An ideal
CIO is not only accountable for IT function success and business process
transformation, but also adopts a more proactive company-external focus and
concentrates on using IT to drive innovation and strategic advantage in
pursuit of stretch business goals.
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Great Innovator: 8 Winning
Habits
To work effectively with the rest of the organization and enable
business innovation. CIO needs to develop an environment within the IT
function that is conducive to innovation. IT function should aim to help the
business to use new technologies to transform
business strategies and
processes, and should proactively develop and scan the marketplace for
innovative solutions that can create
breakthrough business value.
To help the company invent and develop new business models, CIO must find
the right
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balance between two key roles: Operator and Innovator. Finding
this balance is often challenging. The Operator role is concerned with
business continuity, service quality, and cost containment, while the
Innovator role focuses on creating breakthroughs,
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sustainable competitive advantage, and new revenue streams. Though these roles have somewhat
conflicting drivers, the CIO can and must master and
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synergize them to help
the company achieve long term success.
Operational effectiveness and understanding the business are a precondition
of being allowed to innovate and create new business value by doing
something new with IT. These business innovations may include technology
infrastructure improvements,
business process improvements. and
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new products, services, and channels.
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Modern IT-powered Value Chain
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Internet Business Models
By enabling the business to capitalize on the combination of
efficiency-improvement technology and
radical innovations, the CIO can turn
the IT function into a great strategic business innovation tool for the
company.
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