Information Technology (IT) can make or break a business. When done right, thoughtfully laid-out and well-implemented technology solutions result in increased profit, productivity and growth. In a recent article, “Productivity is soaring at Top Firms and Sluggish Everywhere Else”, HBR correspondent Chiara Criscuolo pins the success of growing businesses on innovative IT strategies. Criscuolo identifies the main cause of the increasing productivity gap between successful “Frontier” firms and everyone else as the effective use and implementation of IT solutions.
Productivity is the most important driver of economic growth and long-term sustainability in an increasingly competitive marketplace. An HBR research team found that the most successful businesses—both in manufacturing and service— effectively implement IT strategies: strategies that make successful firms exceedingly more successful. These IT strategies focus on increased productivity in service and production—culminating technological investments with human and organizational improvement. The IT revolution goes beyond simply technological advances—rather it emphasizes the integration of human skill with software and organizational know-how (managerial quality) to create a more satisfied, engaged and productive workforce.
You do not have to invent something new to grow your business. Rather, you need to find how to effectively implement IT solutions. There is definitely a gap between where your business is and where it could be if you could only IT innovate. Reach out to me and I will get you scheduled for a technology roadmap meeting where we will sit down and help you figure out how you can use technology to grow your business.
