The initial principle identified from analysing the world’s regulations is Technology Strategy Orchestration. While most businesses around the world have established a technical awareness and dependency on technology, referred to as Directional Alignment, others have not integrated the business functions to reflect this relationship. The more organizations have visibility into how business processes rely on technology and the subsequent dependent relationships, the more likely business values will be identified and leveraged.

You are required to:
a. State and explain briefly THREE ways that technology may enhance businesses. (6 Marks)

b. State FOUR features of Directional Alignment. (6 Marks)

c. State FIVE steps to be followed in the determination of the business values provided by Technology Strategy. (8 Marks)

a. Three Ways Technology May Enhance Businesses:

  1. Improved Efficiency: Technology automates business processes, reducing manual intervention and speeding up workflows. This helps businesses become more efficient and reduces operational costs.
  2. Enhanced Communication: Technology enables seamless communication within and outside the organization. Tools like email, messaging platforms, and video conferencing help employees stay connected and make decisions faster.
  3. Data Analytics: Technology provides businesses with tools to analyze large amounts of data, helping them make data-driven decisions and gain insights into customer behavior, market trends, and internal performance.

b. Four Features of Directional Alignment:

  1. Goal Congruence: Ensures that technology strategy aligns with the overall business strategy, helping achieve organizational goals.
  2. Process Integration: Technology is integrated into all business processes, ensuring seamless operations across departments.
  3. Continuous Monitoring: The business continuously monitors the performance of technology and its alignment with changing business needs.
  4. Strategic Visibility: The organization has full visibility into how technology supports its business processes and can identify areas where technology adds value.

c. Five Steps to Determine Business Values Provided by Technology Strategy:

  1. Identify Business Processes: Understand the core processes within the organization that technology supports or could enhance.
  2. Assess Technology’s Role: Determine how technology currently supports these processes and identify areas where improvement or expansion is possible.
  3. Measure Efficiency Gains: Evaluate the time and cost savings technology brings to the processes it supports.
  4. Quantify Financial Impact: Translate the efficiency gains into financial terms, such as increased revenue or reduced operational costs.
  5. Monitor and Optimize: Continuously monitor the impact of technology on business processes and make adjustments to maximize its value.
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