Fall 2011 issue of Horizons

Features – continued

Business Strategy

Technology Strategy

Implementation

The results of the assessment will provide the organization with a solid understanding of the role technology plays and what is missing. Once the business assessment has been completed, then the organization is ready to develop a technology strategy. During this process, the organization should evaluate: • What are the various technology options • What are the tradeoffs • What is the organization’s technology vision and best direction • How can they deal with the immediate needs As the technology strategy unfolds, the organization will begin to better understand the benefits that can be provided by technology and its associated costs. The most difficult part of the process is how to implement the technology strategy. As part of the implementation planning, the organization should focus on: • What are the priorities • How to manage the implementation of the plan • Who is going to do what • How much will it cost over time to implement and maintain • When will it be done The implementation can take place over a long period of time. The plan must be flexible so that it can accommodate changes in the business as the strategy is implemented. The organization must also continually evaluate the plan and measure the outcomes to ensure that the benefits are being derived.

Protecting Technology As technology becomes more strategic to an organization, it is crucial to put measures in place to protect it. There are several areas that need to be reviewed in order to effectively protect technology. These include legal protection, development of effective policies and procedures that govern how the technology is used and by whom, and the general security of the technology itself. As technology is developed, it can become a valuable asset to an organization as a key competitive advantage. A common legal protection is to patent the technology. Many aspects of a technology, be it a formula, a software application or a process, can potentially be patentable. By doing this, an organization not only protects its investment in the technology but also creates an asset that can be valued. In some cases, companies have licensed the use of their technology to create additional revenue streams while others have leveraged their patented technology to enhance the value as part of a transaction. In order to help ensure that technology is used correctly and effectively as well as protecting it, adequate controls and procedures should be developed and followed. These controls and procedures assure that the technology is used consistently and in the manner that it was designed to be used. They also provide protection for the technology so that information contained in the technology solution or the technology itself is only available for

Raise Your Expectations

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