The Power of Convergence
Linking Business Strategies and Technology Decisions to Create Sustainable Success
Author: Faisal Hoque
Pub Date: May 2011
Print Edition: $27.95
Print ISBN: 9780814416952
Page Count: 256
e-Book ISBN: 9780814416969
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The Final Takeaway: Are You Ready?
Do you have the right stuff for convergence management? What is the right stuff? In many ways BTM is simply good management. BTM Corporation’s research consistently finds that companies which manage their business and technology holistically manage everything well. Most organizations already have certain tools available for implementing the BTM Framework – technology assets, funding, intelligence through data and metrics, and seasoned professionals. And you – a business leader – have in place some of the necessities like decision-making processes and collaborative groups. Although these will change and assume new roles and responsibilities, you are not starting from zero. The path has been marked ahead of you. The following are some of the critical steps you and your organization will need to take:
Step 1: Bring senior management on board. Make sure senior management values the impact technology has on your business to ensure you have their full support of the initiative.
Step 2: Work from a roadmap. Be thorough and thoughtful. Let your management know how you wish to proceed, how long it will take, and what it will feel like at each milestone.
Step 3: Don’t stop with process or with organizational bodies. Nothing will doom a program faster than to create operational handbooks and to put into place newly created board and committees if they lack reliable information, authority, and usable technology.
Step 4: Put first things first. Focus initially on the acknowledged point of greatest pain – whether that’s governance and investment management, or strategy execution, or any other area – and work to show value as soon as possible in terms those business professionals will appreciate. You will need to continue to make your supporters happy they have backed you – particularly in the beginning – and you will need to have ready answers for your critics.
Step 5: Don’t throw out the baby with your enterprise’s bathwater. Find ways of doing things that are within the boundaries of your business model. Increasing maturity doesn’t mean discarding and replacing everything that makes you company what it is; rather, it means improving and sharpening what is in place and extending your strengths to become and remain a leader in your industry.
Step 6: It’s okay to start small. Recognize that you can work on relatively isolated topics at the beginning of the journey, but that – as you move closer to convergence – your focus must broaden to all areas within business technology management, to ensure that they all will arrive at the same location at the same time. With the work that has gone before your program will have enjoyed successes, and it will have won over detractors. Converged behaviors become a way of life in converged enterprises.
These are the hallmarks of the converged organizations. By applying their lessons and interpreting them through the lens of your own business, your organization as well can realize the benefits of being a converged enterprise. Doing nothing is not an option.
The changes sweeping over corporations and other organizations will not stop because they make us uncomfortable. Your organization is already experiencing the strain of these changes – globalization, speed, new competitors coming out of nowhere, existing competitors unpredictably changing the playing field. The only way to win is to get out ahead of these changes, to manage them in your favor. You can’t do that today unless your business and technology are united as one.
Excerpted from Power of Convergence: Linking Business Strategies and Technology Decisions to Create Sustainable Success, by Faisal Hoque.
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