Fusing Business And Technology Strategies To Cocreate Value
When starting a new business, say the house cleaning business, half of your efforts are really taken up by promoting and marketing your business to the general public – especially if your business is one that really started from scratch. To help complete the journey, leaders across the business—not only those in the technology organization—should proactively participate in the process of seamlessly unifying business and technology strategies and functions to enable cocreation of exponential and sustainable value across these blended teams.
Change initiatives typically require enormous amounts of communication and change management, including a clear narrative and messaging, jointly created by the technology and business functions, which describes the purpose and objectives of the reimagining technology initiative.
While the above four pieces of advice have merits, I find time and again that following them blindly can set you up for failure: most of the supposedly sensible rules are non-generalizable and apply only under certain conditions; today’s hero companies may not be tomorrow’s (remember, for instance, Kodak, Blackberry or Yahoo!, which at its heyday was seen by many as the example of a company that both followed simple rules and was a best-practice example for others); finally, agile and flawless execution can never make up for a possibly flawed strategy.
Process represents the buying experience the customer gets when they buy your product or service, such as the way a fine bottle of wine is presented and served in a restaurant, the reaction of a business to a complaint, or the speed of delivery in a fast food outlet.
Domino’s operates in the “Quick Service Restaurant” (QSR) industry—an industry segment defined not by restaurant menu, but instead by the words “Fast” and “Quick.” For this reason, the firm’s strategy in 2009 focused primarily on “Quick Service Delivery.” However, even though the firm excels in fast delivery, the strategy was failing.