A Guide to Business Technology Strategic Planning… (Part 1)
The first step in getting your IT Strategy on track is the Business Technology Strategic Planning process.
At the heart of this process is envisioning what your future technology must look like to help deliver your business strategy.
Here are five steps and exercises that can help with this process and further down here is a matrix that we have found works really well.
- Define your business goals. Use SMART framework to clarify business goals as follows.
- Decide and document which business capabilities are key to hitting your business goals. These capabilities should be targeted for improvement.
- Notice so far, that there is no mention of technology!
- Do a technology capability gap analysis and rank technologies that need to be targeted for investment.
- Steps 2 and 3 here are really good to do in a management brainstorming session.
- Have discussions around technologies that could enable alternative approaches around business strategy. Especially new technologies that are affecting your industry or different industries. When you start having these discussions you will really see how IT Strategy gets embedded in the Business Strategy and this is a great place to get to!
- Lastly is someone needs to put together a future technology vision document. This gets everyone on the same page and drives even deeper engagement.
Here is a simple matrix we find useful to help kick-start this process internally. In the next post we’re going talk actual examples using this strategic business technology planning process and how it can change your business dramatically.
Contact us today www.newtecservices.com if you would like to discuss any of this in more detail and how we can help your business succeed in today’s fast changing technology driven economy.
And I look forward to discussing these steps in more detail in the coming weeks.