Over the past decade, managers have been increasingly cognizant of incorporating technical challenges into strategic decision-making. Strategic planning involves establishing a vision of the company’s business, defining its goals and objectives, and planning long-term strategies to achieve them. Technology plays a key role in this process. Meanwhile, organizations are learning more and more that business and technology go hand in hand. This article at Analytics Insight by Sathish Muthukrishnan shares five best practices for influencing strategies that align business with technology.
Scaling Business with Technology
Today, almost every organization depends on digital technology to power its core activities. For instance, upstream and downstream supply, sales and marketing, hiring and onboarding, and internal communication. This is only a small list, but it is illustrative and represents the idea that “every company is now a technology company.”
Five Strategies Influencing Business
The degree to which firms utilize technology in the twenty-first century has a significant bearing on their rate of expansion, level of success, and profitability. Here are five best practices CEOs and technologists must follow to increasingly collaborate to advance their businesses:
Using technology to solve complicated business problems and implement growth strategies ensures continued corporate success. The three primary pillars of any organization are its clients, investors, and workers. Satisfying their demands is the key to sustained growth and success.In the past, technology was a separate backend process that executed commands it received. Technology’s enormous potential is constrained when it is treated as a separate department or entity. Thus, aligning business with technology is imperative.A tidal wave of data resulted from seismic changes in technology. This included artificial intelligence, machine learning, and the introduction of micro-processing, to mention a few. Data can offer insightful information on a variety of significant client behaviors and expectations. The information processing speed defines the data’s worth, so utilizing data quickly is essential for many firms to remain competitive.
The author discusses making technology the focal point of innovation. Additionally, he elaborates on prioritizing the issues that emerge at the intersection of technology and business.
To read the original article, click on https://www.analyticsinsight.net/5-best-practices-for-influencing-business-strategy-with-technology/
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