Top 4 Key Trends 2014: How (Much) Does Technology Matter To Leaders?

Must Read

Apple Inc. (AAPL) And Samsung Group (005930) Combined Smartphone Market Share Shrunk To Below 50% In Q1 2014: Huawei and Lenovo Rising Fast!

Apple Inc. (NASDAQ:AAPL) and  Samsung Electronics Co. Ltd. (KRX:005930) are the undisputed heavyweights of the smartphone world. Together, both brands accounted for 50%...

Apple is Being Evil For 1.5 Billion iPhone, iPad Users Worldwide

Last year when Apple Inc. (NASDAQ:AAPL) was accused of recording everything that iPhone users were talking through...

Uber India Layoffs 25% Workforce Citing Tough Market Conditions

After laying off thousands of employees in the US, Uber is scaling down its operations in India...

In today‘s market, the rate at which technology is changing is amazing and to keep up with this leaders have to fast pace their activities. Since the change is too fast even the CIO of the organization finds it difficult to stay abreast.

Technology is changing and growing too fast for even the CIO of an organization to keep up with, let alone the CEO. Decisions like company direction, areas of business growth and new technology to incorporate ultimately falls in the hands of the CEO. At a point of time, information technology was so expensive and so difficult to manage that companies could make large amounts of money simply by being able to make systems work. (Think I.B.M.)

Key Tech Trend To Lookout In 2014 - No.1

Managing Information technology effectively used to be a big competitive advantage to companies. But over the years, since it has become more manageable and cheaper, this advantage takes a back burner. Factors like hiring knowledgeable employees and tools to manage the technology has become easier and more powerful than it used to be a few years ago. Nowadays anybody can set up a Web server, or an accounting system, or an inventory management system.

Advertisements

When a technology is so complex that the only way to make things work is to copy what you already have in place and that acts as a competitive advantage. And since only the incumbent have something to copy that would makes it difficult for new companies to enter the industry. And if one of them gains some temporary competitive advantage by building an inventory management system, the others will soon follow. That doesn’t really make it foolproof!

It is not information technology itself that matters, but how you use it.

When information technology is turned into a ‘commodity’, it no longer serves as a source of unique competitive advantage, and then we still face a critical question of advantage. Standardization and commoditization of a technology don’t always mean that innovation stops. Once products become commodities, they can serve as components for further innovation. In the 19th century the real innovations came after the basic building blocks were commoditized.

Key Tech Trend To Lookout In 2014 - No.2

Then maybe we can look at information technology as those standardized parts. Desktop PC’s, Web servers, databases and scripting languages have become components in larger, more complex systems. As these components have become more standardized, the opportunities to create innovations have multiplied.

Do such innovations offer “sustainable competitive advantage”?

Advertisements

The answer is maybe, maybe not. Truly sustainable competitive advantage is a high hurdle. Doing something better and cheaper than the competition is always valuable, even if the competitive advantage is only temporary.

Key Tech Trend To Lookout In 2014 - No.3

No matter what, leaders cannot afford to ignore information technology, or relegate it to the back burner. A study shows that 53% of ERP projects still run over budget, 61% take longer to complete than anticipated, and more than 27% fail to produce the positive ROI expected. Such IT-related problems aren’t just rooted in technology but more in leadership failings. The people implementing don’t understand such IT problems. As a result they don’t provide adequate resources to solve them, and don’t approach the issues as members of unified technology-literate teams.

Key Tech Trend To Lookout In 2014 - No.4

The functionality of computing undergoes constant, dramatic increases, and as it does so, it opens huge new opportunities and leaves the company vulnerable in unexpected ways. While technology can’t give you a permanent competitive advantage, timely deployment of new IT products, processes, and systems can enable you to build a strong competitive position.

Corporations’ technology strategies will remain ineffective until leaders acknowledge that, now as always, IT does matter.

For details list of Top 8 key Trends to look out in 2014, you can visit Vovox.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Uber India Layoffs 25% Workforce Citing Tough Market Conditions

After laying off thousands of employees in the US, Uber is scaling down its operations in India...

Apple is Being Evil For 1.5 Billion iPhone, iPad Users Worldwide

Last year when Apple Inc. (NASDAQ:AAPL) was accused of recording everything that iPhone users were talking through Siri, the company was quick...

Is Bill Gates Developing Covid-19 Vaccine To Track Billions Of Users Worldwide?

Bill Gates is once again at the centre stage of controversy related to novel Coronavirus. Battling falsehood and paranoid...

Darkest Before Dawn: Can India Survive Its Worst Ever Recession?

Bolt your doors, batter down your hatches, brace yourselves. Recession is about to make landfall. According to Goldman Sachs, a...

Crisis Of Trust: The Glue Between Brands, Customers And Employees!

The COVID-19 crisis, which shows no sign of stopping any time soon, has left no life untouched in terms of impact. It...

WeWork Valuation: $2.9 Billion, Way Below Than Estimated $47 Billion 6 Month Ago

If you are thinking it is some kind of clickbait, you are highly mistaken. The debate on the valuation of WeWork once...

In-Depth: Dprime

Fantastic 4: Four Day Work Week A Flashpoint Of Innovation?

It has been an idea that has been mooted by many, perhaps also somewhat sceptically. From being a dark horse to becoming...

TikTok Is Facing The Wrath Of People Who Love It The Most

Ever since the popular social media app TikTok entered India, it has been growing very aggressively in terms of users. Within a...

Facebook Shops: Looking Beyond Ad Dollars!

Amid this global pandemic, when companies are struggling to find new verticals to pivot towards in order to maintain their revenue and...

More Articles Like This