MBA606_HW
Being the chief information officer in a firm seeking to recover from a set of challenges without much Information Technology background information can be a significant challenge. The new CIO stand numerous risks such as remaining at the bottom of the capability gap for longer than the company can afford, thus destroying his reputation and career. However, being business smart presents its set of opportunities towards closing the capability gap necessary for effective management of the IT department within an organization.IVK needs to collaborate with its IT and managerial functions through timely communication to enhance its effectiveness. IT is one of the critical infrastructural development in business. However, failure to leverage the technology and reap its benefits while the opportunity window is open can result in substantial unwarranted costs in a company.
Nicholas Carr’s argument that companies should not invest huge sums of money in information technology while every other competitor can access the same technology sounds profound. However, understanding the management aspect on the window of opportunity is insightful on the issue. Industry leaders reap their profits early enough to avoid incurring losses from technological obsolesce. As the new CIO, investing in IT presents more growth opportunities than risks to the company. First, the company needs to acquire a strategic position to enhance its effectiveness in the industry. It enables companies to perform different activities than its rivals or delivering the same set of actions differently. Differentiation has proved a useful competitive tool across all businesses. Therefore, the company should pursue the benefits of differentiation to achieve a strategic position over its rivals rather than hold back for the competitors to lead. Besides, understanding a company’s source of competitive advantages allows managers to recognize and exploits and address a company’s opportunities and vulnerabilities, respectively. The possibilities include but not limited to efficient operations in other departments and can facilitate a strong brand. Moreover, achieving a strategic position creates advantages that are difficult for rivals to challenge. Therefore, allowing others to take the lead denies the company its most deserving opportunities, and time to exploit the opportunity window.
The company can follow a strategic plan to recover from its current crisis. First, the organization needs to create value by creating a close relationship between technology-oriented and business management departments to enhance collaboration between the two teams. The CEO need s to equip the IT personnel with management knowledge to improve their effectiveness. The IT department interacts with numerous operational areas within the organization from different angles. Therefore, managerial expertise is a vital foundation to brainstorm IT-based solutions on current organizational challenges across the various departments. Besides, the training shall seek to enhance communication, knowledge sharing, and understanding of the different operational functions. Therefore, as the new CEO, we should harmonize the various business management and IT departments to ensure Maximum Corporation and enhance the effectiveness of the department in identifying new growth opportunities for the organization to pursue. The administration should implement regular training and establish real-time information sharing platforms across the different departments to achieve the desired level of communication and collaboration.