Question

Most organization in all sectors of industry, commerce, not-for-profit, and government are now dependent on IS and IT strategy. Why is IS/IT strategy important to organizations? And without good IS/IT strategy, how would this impact organisation?

Answer 1

Ans. IT strategy (information technology strategy) is a comprehensive plan that outlines how technology should be used to meet IT and business goals. An IT strategy, also called a technology strategy or IT/technology strategic plan, is a written document that details the multiple factors that affect the organization's investment in and use of technology.

A strong IT strategy provides a blueprint of how technology supports and shapes the organization's overall business strategy. Its strategic goals should mirror business projects (aka business alignment) and take into account the needs of key stakeholders including employees, customers and business partners.

The strategy should offer a look at the organization's current technology posture and provide an idea of where IT should head over the next three to five years.An IT strategy has become a critical element for organizational leadership in recent decades. Its growing importance mirrors the rise of technology itself as a critical element for business success. The importance of an IT strategy has been amplified over the past few years as organizations focus on digital transformation and thriving in the digital age. Technology is essential for creating new business models, products and services; enhancing customer service as well as customer experiences; increasing sales; enabling workers and improving productivity; and supporting interactions with vendors and other business partners.As such, organizations must formulate a technology strategy to accomplish those things as well as compete against others with the same objectives.

A business strategy creates a vision and direction for the whole organisation. It is important that all people within a company have clear goals and are following the direction, or mission of the organisation. A strategy can provide this vision and prevent individuals from losing sight of their company’s aims.