can this apply to IT as well?…..Innovation’s Nine Critical Success Factors – Vijay Govindarajan – Harvard Business Review

Innovation’s Nine Critical Success Factors – Vijay Govindarajan – Harvard Business Review 

Great article on innovation, more at a corporate strategy level than at an IT department level. 

As IT’s role continues to evolve between operations, protecting corporations in the area of compliance and meeting new business requirements, how can IT stay at, or move to, the forefront of business strategy? 

While IT budgets have by and large been focused on operations and maintenance of existing systems (between 60-90% of IT spend), the promise of cloud could help drive down this percentage.   Unfortunately, rather than free up this budget for new business initiatives, the need for corporate-level governance around compliance and its many permutations seems to be moving towards being an IT “deliverable.”

If this is indeed what is happening in corporate IT today, how does an IT department address the need for innovation in IT?  Can, and how, can IT innovation become a key value-add for any enterprise CIO?

Focused on TBM, Technology Business Management ("run IT like a business"). - 30+ years of experience, in providing IT strategy, process, application, RAMP, hardware, software, network, internet and cloud solutions to financial services, MRD and high technology companies from startup to F500. - 20+ published articles on the intersection of business and technology. - Startup advisor and mentor to a dozen startups, four of which were acquired and one of which is newly-launched (ITconnecter, a Crosswaves Ventures LLC company). - Specialties: IT Technology Business Management (TBM, aka "run IT like a business"), strategic partnerships, technology innovation, solutioning and program/project management (onshore, nearshore, offshore). Technology consulting focused on innovation, built around process, data and integration (cloud, social networking). We use I/TBM financial management best practices to help mid-size and large enterprises ensure they are meeting the needs of their business effectively and efficiently.

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