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What do you do if your business growth is stagnant despite implementing IT Strategy?

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You have invested time and resources in developing and implementing an IT strategy for your business, but you are not seeing the results you expected. Your growth is stagnant, your customers are dissatisfied, and your competitors are gaining an edge. What do you do? In this article, we will explore some possible reasons for this situation and some actions you can take to overcome it.

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1 Assess your IT strategy alignment

The first step is to review your IT strategy and how well it aligns with your business goals, vision, and values. Is your IT strategy supporting your core competencies, enhancing your customer experience, and creating value for your stakeholders? Or is it diverting your attention, resources, and energy from your strategic priorities? You may need to revisit your IT strategy and make adjustments to ensure that it is aligned with your business needs and direction.

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Sandeep Kaushik

Assistant Manager-IT | Ex-NTT | Ex-Ford Motor (UK) | Ex- BMW India | Ex- Tech Mahindra
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Implement IT Strategy in business! Develop a strategy. Use the right business development methods. Use business development skills as a focus for professional development. Research market trends and industry leaders. Prioritize networking. Focus on lead generation. Keep expectations realistic. Set a budget for development. Create a first-response initiative. Leverage your digital platforms.

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Jaouid Bourquia

LinkedIn Top Team Leadership Development - Strategy and Technology -Executive in Technology and Perpetual Seeker of Wisdom.?? +80 x Top Voice badges
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If business growth is stagnant despite implementing IT Strategy, take proactive steps: Conduct a comprehensive review to identify bottlenecks or inefficiencies hindering growth, reassess IT initiatives to ensure they're aligned with business objectives, leverage data analytics to gain insights into customer behavior and market trends, seek feedback from stakeholders to identify areas for improvement, foster innovation within the IT team to explore new opportunities for growth, collaborate cross-functionally to align IT efforts with broader business strategies, and iterate strategies based on lessons learned to adapt to changing market conditions and drive sustainable growth.

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Gabriel Casals

Senior Manager @ Rocket.Chat | Leading Remote Engineering Squads | Professor
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Revisit current projects and initiatives in general to make sure they are still valid. Assess the strategy also means making sure projects still make sense and that ROI for items are achieving the expected results. IT is not an island, so you need to review based on general org systems.

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Swetha Rathnala

Data Engineer specialized in Microsoft Azure and ADF/BI Analyst specialised in Data Modelling and data analysis
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1. Understand the current strategy implemented 2. Comparative analysis with the market trends 3. Analysis of Company business growth trend from the past till date. 4. Identify the root causes /pitfalls in growth 5. ANy improvements /achievements ? 6. Get reviews from the stakeholders/ customers 7. Generate a report with metrics , KPI s , graphs to visualize the historical data .

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Miguel Cockburn
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Si el crecimiento es un objetivo estratégico (como se haya definido) y no se alcanza, pero TI ha implementado (asumimos con éxito) sus objetivos, significa que hay problemas que identificar y analizar: se cumplieron los objetivos en las otras áreas? ?Los planes y acciones fueron mal definidos desde un inicio? ?Se ejecutó incorrectamente y no lograron los objetivos? ?Se asumió que la tecnología implementada automáticamente traería los beneficios esperados? ?Se gestionó correctamente el cambio de comportamiento de las personas? La alineación no garantiza de ninguna manera que se logrará el crecimiento así porque sí.

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2 Evaluate your IT performance and impact

The next step is to measure and analyze your IT performance and impact. How effective and efficient is your IT delivery and operation? How well are you managing your IT risks and costs? How much value are you generating from your IT investments and initiatives? You may need to use various metrics and indicators to assess your IT performance and impact, such as return on investment, customer satisfaction, innovation, agility, and security. You may also need to benchmark your IT performance and impact against your competitors and industry standards.

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Renan Aguiar

Manager at Bain & Company | Strategy | Private Equity | Financial Services | Technology | Digital Platforms
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Before shifting the IT strategy because business is not achieving its growth goals, it is important to assess if technology has been a bottleneck or not. Here are some metrics to measure: 1) Latency: measure how much time it takes to load pages and if it's making the user experience bad. 2) Error rates: how errors or incidents have affected daily operations 3) Scalability: check if the tech architecture can handle the peak of accesses or transactions. 4) Resource utilization: analyze if all the resources are supporting the daily operations and if there is any bottleneck that should be exploited.

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3 Identify your IT gaps and opportunities

The third step is to identify your IT gaps and opportunities. Where are you falling short of your IT goals and expectations? What are the root causes and consequences of your IT problems and challenges? What are the potential solutions and improvements that you can implement to address your IT gaps? Conversely, where are you excelling or exceeding your IT goals and expectations? What are the best practices and success factors that you can leverage and replicate to enhance your IT performance and impact? What are the new trends and opportunities that you can explore and exploit to gain a competitive advantage with your IT strategy?

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Rija Rakotoarisoa

Industry 4.0 | Change Management | IT Strategy | Leadership | Digital Transformation | Finance
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If growth stalls despite IT efforts, admit mistakes and focus on why. Identify gaps in tech and business alignment. Don't just push tech solutions; prioritize business needs. Explore alternatives like process improvement. Adapt strategy for real growth.

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4 Prioritize and execute your IT actions

The final step is to prioritize and execute your IT actions. Based on your IT assessment, evaluation, and identification, you need to decide what are the most important and urgent IT actions that you need to take to improve your business growth. You may need to revise your IT roadmap, budget, and governance to reflect your IT priorities and plans. You may also need to communicate and collaborate with your IT team, business partners, and stakeholders to ensure that your IT actions are aligned, supported, and monitored. You may also need to review and refine your IT actions as you implement them and measure their results.

Implementing an IT strategy is not a one-time event, but a continuous process that requires constant evaluation and improvement. By following these steps, you can diagnose and address the reasons for your business growth stagnation and leverage your IT strategy to achieve your desired outcomes.

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Rija Rakotoarisoa

Industry 4.0 | Change Management | IT Strategy | Leadership | Digital Transformation | Finance
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To prioritize IT actions effectively, engage stakeholders for insights and align goals. Assess potential value generated by each action, focusing on business impact over tech advancements. Revise roadmap, budget, and governance accordingly. Collaborate closely with IT team and partners for seamless execution. Continuously review and refine actions based on results, ensuring alignment with business objectives for sustained growth.

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5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Miguel Cockburn
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"?Qué hacer si el crecimiento de tu negocio se estanca a pesar de implementar la estrategia de TI?" ?Es esta pregunta realmente la correcta? ?Acaso el crecimiento de un negocio depende SóLO de implementar la estrategia de TI? Se debe responder ciertas preguntas: 1. ?Cuál es el propósito de la empresa? 2. ?Cuáles son los objetivos estratégico? 3. ?Se definió correctamente UNA estrategia de negocio, con todos los componentes bien interconectados? 4. ?Cuáles son los indicadores que me ayudan a saber qué significa crecimiento: facturación, rentabilidad, market share, fidelidad, mayor cantidad de clientes, expansión geográfica? Esta pregunta sólo debería considerarse si el único driver que frena el crecimiento es TI... lo que no es cierto.

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Dr. Yogesh Shete

GCC setup| Center Head| COO | Strategy & consulting| Digital Transformation |Technology Head |Board Member |Supply Chain, Vendor management & TPRM |Speaker | 3X LinkedIn Top Voice
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Here are the top 2 things on my mind 1) Re-evaluate IT Strategy Alignment: ? Imagine a bank who implemented an IT strategy to improve loan processing speed. But growth remains flat. Was the strategy focused on internal loan processing efficiency, neglecting the customer experience (application ease, loan tracking)? ? Action: Review your IT strategy. Does it directly support your core business goals (e.g., attracting new customers, increasing deposits)? 2) Consider External Market Factors: ? Perhaps the stagnant growth isn't due to the IT strategy itself, but a saturated loan market or a new competitor offering better rates. ? Action: Look beyond IT. Is there a shift in customer needs or increased competition?

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What do you do if your business growth is stagnant despite implementing IT Strategy?

1

2

3

4

5

1 Assess your IT strategy alignment

2 Evaluate your IT performance and impact

3 Identify your IT gaps and opportunities

4 Prioritize and execute your IT actions

5 Here’s what else to consider

IT Strategy

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What do you do if your business growth is stagnant despite implementing IT Strategy?

1

2

3

4

5

1 Assess your IT strategy alignment

2 Evaluate your IT performance and impact

3 Identify your IT gaps and opportunities

4 Prioritize and execute your IT actions

5 Here’s what else to consider

IT Strategy

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