Are You Wasting Technology By Not Thinking Strategically?

I recently read a McKinsey Study that reviewed how larger companies have three ways of looking at IT expenditures:

  • as low risk (“stay in the race” projects to improve basic services)
  • medium risk (“win the race” efforts to raise the efficiency and cut the cost of current business activities)
  • and

  • high risk (“change the rules” innovations to enter new or transform existing markets)
  • If you want your business to remain where it is – keep using just the basics of technology to keep your business in operation. However, if you want to GROW your business you must use technology to be where you want to be, not where you are.
    Read the full report here.
    How can you better invest in technology. Think of your email. Are you just getting by, using email as a basic communication tool? Instead use email as a way to collaborate and empower your employees and customers. Integrate RSS readers into your email and make sure you train your employees in how to get the most out of email.
    I’ve recently upgraded to Outlook 2007 – it’s a a very powerful tool. The best way to get the most out of it – is to invest in a course and rad a good book in how to get the most out of it. Imagine buying a luxury car and not being able to enjoy it.
    Many of the technology tools we use on a daily basis contain powerful features that you’ll only know how to use if you take the time to learn them.