Signs your strategic plan needs an upgrade

Signs your strategic plan needs an upgrade

Signs your strategic plan needs an upgrade

The outbreak of coronavirus has pushed many organizations to use and hasten their digital plans for transformation. However, having some strategic plan is not the same as having a good one.  

Everyone will agree on a thought that COVID-19 has accelerated digital planning immensely. According to McKinsey,  over two months many businesses and consumers have leaped five years forward in digital adoption. According to a survey from OpsRamp, although, IT budgets faced overall drawdown, 73% of IT leading companies expect to whether quicken or maintain initiatives for digital transformation through coronavirus crisis.

As a result, IT leaders appear in a difficult situation. They should implement quick change while working with a long-term strategy for their success. 

The strategy of digital transformation:  what you should pay attention to

The strategy of digital transformation
The strategy of digital transformation

While the rush around digital transformation has been developing for many years, the COVID-19 has sent almost everything into acceleration.  Thus, Chief Information Officers should be cautious of making decisions that are driven by rush. Of course, nowadays the situation pushes to make them, you should remember one thing. Digital transformation is not just a tech trend but also a business mindset that pushes your business’s long-term resiliency and development.

Critically evaluate the current digital strategy of your company and take into consideration these crucial signs that it may need a radical change:

  • You see digital transformation as a company-by-company and fully isolated event. However, remember the phrase “a rising tide lifts all boats”, that contemplates that all developments to the general economy will benefit all investors. Digital transformation likewise benefits all consumers and businesses. Thus, your business’s transformation influences your employees, vendors, clients, competitors, and others. While businesses search to lessen paperwork and extras, they are choosing a multi-organizational exchange of information that requires universal standards and cooperation across different businesses.
  • Your digital should be a single from your business strategy.  Those companies that have separate strategies might believe they go through digital transformation, however, they are more likely facing IT transformation.  As digital transformation forms many possibilities to change your company, IT transformation updates crucial plumbing that guarantees good digital transformation.
  • You do not posture yourself to drive innovation and development across your business. As a rule, the role of Chief Information Officer is altering from supporter to strategist, from regulator to driver. If you are still carrying out the duties of a provider of technology service rather than an advisor on matters of how to join digital initiatives with business strategy, you will no be able to access real transformation. The future CIO is an integral partner with various fellow C-level leaders in dynamically implementing a digital strategy to develop the business.
IT infrastructure
IT infrastructure

Your business relies on you to support all IT infrastructure. In the same manner, if your main function is only related to operating and owning all IT technology of the company while managing in-house employees or contractors, you will not have any time to take part in much developed strategic business initiatives.  Think about unloading some of these tasks to your reliable partners to free your schedule for more important projects.

You have a strategy with only one cloud. One big disadvantage of moving to the cloud is the possible loss of management over your physical IT infrastructure. If you decide to rely only on one cloud vendor, you are more likely to be exposed to greater risk should said partner face data breach, a technical problem, or contract failure. 

All in all, a hybrid cloud or multi-cloud strategy can help you arrange operations among different vendors to let failover happen.  A mixed approach offers you the flexibility to the maximum.

  • You are not working under the guess that your information is already discredited. Due to the asymmetrical attack surface in the cloud, you have more cybersecurity risks that have not been detected with local data centers. While many Chief Information Officers have found out, one employee is enough to be scammed or one wrongly configured system file for hackers to damage your organization.

Thus, you need to implement a certain approach where you trust no one, not even your users in your business, such a decision should especially important for your employees who work on remote conditions during coronavirus outbreak and gain access to devices and networks that might have already had threats for security.

  •  You think that implementing up-to-date tech trends can solve all your business issues and needs.  As many CIOs do not think this way, your C-level predecessor might.  Whether it is purchasing artificial intelligence and machine learning or moving to the cloud, many senior executives think that only such technologies can help with digital transformation.

Of course, these solutions can play their part in the process, they should go with an operational vision that is developed around human planning and strategy.