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IT Management paradigm shift.
More and more PM's and Developers asked to deliver a higher quality product/service with less resources.
In today's ever changing market place IT and Application initiatives are being developed at breakneck speeds . IT Executives are forced to adapt to an even faster-paced environment while keeping an eye on over all progress within their departments.
While there are many great applications out there that facilitate this process many organizations are forced to purchase multiple systems to improve their bottom line. This practice is cumbersome and most often expensive. In today's slow crawling economy many organizations are cutting spending leaving IT and Software Development teams with little to no resources to effectively deliver their service or product. This raises an important question.
Does the economy dictate development of emerging products, services or technologies?
Best Answer
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Posted on
April 20, 2010
Interesting comments, just FYI the focus is more about the business side vs. the IT side of the house. IT needs to be driven as an innovator or enabler to help the business succeed in creating additional revenue and/or cost cutting measures. IT can not be done for IT sake anymore, meaning just to implment SAP because we think it is the right thing to do. Would love to talk more, because doing more for less is the key, however, this then focus on the business strategy side of the house with IT as the enabler. This is our company's approach as an outsourced CIO
Jonathan
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Another perspective!
Yes. A slower economy drives entrepreneurs to develop emerging products, services, and technologies. As people lose their jobs, ideas originally thought dead now come to life! Remember, some of the most well known companies now, started during the depression and other slow economic times.
Investing in technology in a questionable market initially depends on four factors, risk tolerance, strength of brand, the type of company private verses public and size of the organization small, medium, large, and complex. Public companies will notice economic impacts far faster than private companies. Stronger brands can afford to wait until the market is more favorable.
Small companies are more risk tolerant and utilize an uncertain economy to size up the competition and bring in new cutting-edge technologies and services for brand appeal, potential future revenues, and to test the market. They take advantage of the slow down to build their products/services. Additionally, smaller companies can attract venture capitalists to potentially secure necessary funding for these types of initiatives.