Preparing for Renewed Growth: Setting Strategy for IT and the Business
Source: Economist Intelligence Unit
If there is a bright side to a recession, it is that it forces companies to set frivolous projects aside and focus only on those that clearly produce value for customers and shareholders. In the area of Information Technology (IT), this often means bowing to the reality, according to Peter Whatnell, CIO at Sunoco, that "The job is not to provide interesting work for recent computer science students" but rather to ensure that initiatives have tangible business merit. In turn, by focusing on value, and putting a company in a position to create that value, the pay-off can be considerable when the upturn arrives. A streamlined company is more adept at capitalising on opportunities and minimising waste.