Organisations are embracing technology rapidly every day yet some of the organisations does not have “IT Strategy and Roadmap”. We have seen through out the history most successful organisations who have established reputed brands just disappeared.
A few best known examples to just build some context
Blockbuster
“A number of factors contributed to Blockbuster going under. But the main reason it went out of business in 2013 was its failure to adapt to a changing retail environment where streaming movies made renting physical DVDs feel caveman-like. Of course, things could have been very different.”
refer to mareketingweek.com for the complete article
Company facts
- Peak : 2004
- Employed : 84,300 (worldwide)
- Market value : $5 billion
Kodak
“Kodak did not fail because it missed the digital age. It actually invented the first digital camera in 1975. However, instead of marketing the new technology, the company held back for fear of hurting its lucrative film business, even after digital products were reshaping the market. ”
refer to forbes.com for complete article.
Company facts
- Peak : 1990
- Employed : 145,000 (worldwide)
- Market value : $30 billion
Both of them were very successful business yet both of them failed due to not being able to adapt to the changing needs of the consumers, technology trends within their markets and were not able to quickly react enough to sustain. Strategy is key for businesses to sustain and survive in this competitive world. Most importantly a Strategy that would allow to adapt and allows to change if required.
Businesses should have a very detailed corporate strategy compelled with a digital transformation strategy and in turn need to have an IT Strategy and Roadmap.
The previous article explains in detail how all of this come together.
We at ACS have had experience helping various businesses to define Digital Transformation Strategy and IT Strategy. Just complete the form for a free consultation so that we can help you.
