Introduction
ModMeters is in the spotlight due to the high quality and differentiated meter components for other enterprises. Nonetheless, the need for new strategic thrusts is in a surge, and the strategic management, including all heads of departments, has to come up with a solid plan to make a difference and magnify the perceptibility of business outcomes in the coming years. In the contentious landscape, the most important thing for the company management is to realize these strategic opportunities and set the foundation or ground to accomplish goals and objectives. However, it is also compelling to understand or know that these strategic initiatives or thrusts are feasible or viable. Of course, to deliver these strategic thrusts or initiatives, proper IT and budget planning are required (Baschab & Piot, 2003).
IT Planning Process for ModMeters
The solid IT planning always requires a relevant rationale. First, the management of the company has to distinguish issues or problems which exist in the current system. For Instance, ModMeters aims to expand manufacturing in Asian and European regions to meet the increasing needs of customers. It is a fact that business expansion needs a considerable capital investment, which can cause a colossal downturn in the business. On the other hand, the company aims to sell differentiated meters to customers directly, primarily through its website. These are critical strategic initiatives in terms of information technology and possible impact on the business. Still, unfreezing the whole business system or structure is never easy.
For Instance, it has been unveiled at the strategic meeting that the company does not have time, people, and money to reengineer these existing systems and set the foundation for new ones. Streamlining IT initiatives seems a good idea for the company to create urgency in the internal business environment. Nevertheless, the lack of resources was a big problem. It is what was exposed to the strategic meeting in front of all critical stakeholders. The need for IT plan was optimized in the decisive session, as ordinary spending and current standing of the business were revealed incredibly. Therefore, instead of just rejecting the ideas regarding these strategic initiatives, the most important thing is to make the plan to achieve them. Feasible IT initiatives are always in favor of the company (Drechsler & Weißschädel, 2018).
The first step in IT planning is to gather all key stakeholders and discuss possible sources of investment or spending. Chief information officer (CIO) Brain Smith has set the ground for the new IT planning, as after listening to all key stakeholders, he illustrated the current spending of the company and feasibility of new strategic initiatives. By using a Pie chart, the cost of the business has been highlighted in several departments. Promptly, the big question is how the company will invest in these strategic IT projects despite containing many improvements in a loop (Pathak, 2005).
Instantly, a further step in IT planning is to intensify the distinctness of prioritization. For Instance, it is a fact that the company cannot execute both IT initiatives at the same time, as it can cause a big clash with business strategies and objectives. Hence, prioritization is an improbable idea, which can help the company to streamline the task or initiative, and it is compulsory in terms of impact on the business and outcomes. The best strategy to be included in the IT planning, is to hire and develop account managers to keep this prioritization in the loop. In the strategic meeting, Brain should come up with the prioritization rubric along with the illustration of Pie Chart to make stakeholders or department heads know the urgent needs of the business. For Instance, business expansion in other regions and developing a fancy website are two crucial IT initiatives (McKeen & Smith, 2014., P. 105).
However, Brain and other stakeholders must navigate the prioritization rubric to view these strategic initiatives in order. Of course, the management always needs to know which task or effort needs to be implemented first to meet business goals and objectives. The significant advantage of this consideration is that the company will be in a better position to reduce the cost of these new strategic initiatives. Implementing the prioritized initiatives and increasing return on investment is an excellent approach, which can open new ways to implement other initiatives. Brain indicated this plan as he engaged IT, marketing, human resources, and many other executives to streamline the urgent needs or priorities. Coming up with a reason regarding IT initiatives can work for the company, as far as the impact on the business is concerned.
A two-way process in strategy development is always needed, and it must be included in the IT planning process. For Instance, IT and business strategy must be aligned or integrated. If the company aims to start selling metering components on websites (Direct Sales), then it has to reshape goals, objectives, or strategies (McKeen & Smith, 2014., P. 107). Of course, it can be a massive shift in terms of business model or system, which can create an impact on business outcomes and advantages. Presently, the need to revisit the business goals and strategies to align with these new IT initiatives is mandatory in the planning process. In the competitive market, remaining relevant and lucrative can be one of the main priorities, and these IT initiatives in the context of business goals and objectives are essential.
Another indispensable part of the IT plan is to improve the communication infrastructure in the internal business environment. Over these strategic thrusts or initiatives, all key stakeholders in different departments may have different opinions, thoughts, or reservations. Before discussing these new strategic initiatives, IT managers and department heads have to recognize or understand the other needs. Business improvement in the internal climate is one of the critical factors, and it is to be assured that new strategic initiatives cannot hit these improvements. In short, the relationship between information technology and IT business must be understood, and it is the best way to move forward in this contemporary era (De Reyck, 2010).
IT planning is linked to firm infrastructure. In this extensive planning process, the management has to strategize the firm’s infrastructure. For Instance, the most important thing is to make the development of the firm infrastructure affordable. New cost measures are to be developed before taking further steps regarding these IT initiatives. In a limited budget and other resources, cost efficiency is an integral part of the plan, and Brain and other stakeholders must be aware of it. Eventually, the planning process must be triggered by other business initiatives, as well. When it comes to business or product expansion, the company has to decide how new products can change the whole scenario of the business in the competitive market. If the company carries substantial capital investments in these IT initiatives, product development, and expansion will be in jeopardy, and it can be a massive concern for all key stakeholders (Lientz, 2010).
These IT projects can be rationalized and executed in steps or phases. The first step is to develop a business case and identify all key stakeholders, which are to be included in this process. Brain and other executives have to combine efforts to establish a new scope of the project along with redefined goals and objectives. These goals and objectives must be aligned with business goals and objectives. After determining deliverables, the brain and his team have to create a schedule and millstone. Every phase of the project must be aligned with cost measures to make these initiatives affordable. A risk assessment plan and possible mitigation strategies are to be developed in this IT plan to avoid uncertainties (Team Clarizen, 2019).
Accomplishing the Demands
Accomplishing or meeting the demand of the business is imperative for the management, and IT planning provides excellent support subsequently. For Instance, if the planning process contains the defensive approach, then it can serve to meet the current needs of the business in terms of infrastructure development and developments of new products in the metering components industry. On the other hand, if Brain and his team carry a progressive approach, then it can meet unique market needs. Again, it is based on the business or IT prioritization, as both approaches are mandatory for the company. This IT planning process can aid in meeting both business and customer needs. Executing new IT initiatives is better to earn more and enhance customer interaction. Yet, if the management considers cost as a critical hurdle, the demand for the business must be met first. It looks strategic choices for the company to accomplish the demands (McKeen & Smith, 2014).
Conclusion
In the end, it is to presume that ModMeters got the potential to prioritize these strategic initiatives or thrusts. In this thorough planning, the current limitations of the company and the needs of the internal business environment are streamlined. Significant managerial or executive cognition is needed in ModMeters to integrate with the strategic needs of the company. This IT planning is based on current needs, demands, and issues in the business, and by combining resources and capabilities, Brain and other stakeholders have to move forward and gain success in the end.
References
Baschab, J., & Piot, J. (2003). The Executive’s Guide to Information Technology. John Wiley & Sons.
De Reyck, B. (2010). Effective Project Planning: Making the Most of Project Planning Tools. Production and Inventory Management Journal, 46(2), 10-25.
Drechsler, A., & Weißschädel, S. (2018). An IT strategy development framework for small and medium enterprises. Information Systems and eBusiness Management, 16(1), 93-124.
Lientz, B. P. (2010). Breakthrough Strategic IT and Process Planning (1 ed.). World Scientific.
McKeen, J. D., & Smith, H. A. (2014). IT Strategy: Issues and Practices (3 ed.). Pearson.
Pathak, J. (2005). Information Technology Auditing: An Evolving Agenda (1 ed.). Springer Science & Business Media.
Team Clarizen. (2019, February 15). What Are the Basic Project Planning Steps?
