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Mar 2016 - Industry Development and Models - Doc # US41048616

Innovation Strategies: Developing IT Innovation That Drives Measurable Business Value

Author: Fred Magee
Abstract

This IDC study explores how IT can support business innovation by focusing on specific areas where technology and information provide clear value. IT leaders and business IT buyers can use this research to identify the particular kinds of IT innovation that directly support business goals and value. This study develops a framework for thinking about the role of IT in supporting business innovation, and it recommends specific ways by which CIOs can organize IT's contribution to the development of initiatives that will benefit enterprise business performance. This study explores questions like:

  • How is the need for business/IT innovation defined by understanding changes to the enterprise ecosystem of markets and customer behavior? 

  • What are the three key styles of business innovation? 

  • How does business type and industry affect the role of IT? 

  • What is the role of the CIO in creating multitiered innovation strategies?

This study focuses on three IT Executive Program practice areas: Innovation Strategies, Leading in 3D, and Leadership Transformation.

"This study on innovation provides specific guidance to CIOs on how IT leadership can become and remain an integral player as it meets the challenges of supporting enterprise innovation: finding good ideas, vetting the ideas for their market potential, and making sound investments in delivering results," says Fred Magee, adjunct analyst with IDC's Research Network.

He further adds, "IDC believes that the ability to develop innovation strategies that are flexible, targeted at specific goals, and representative of a multipurpose innovation culture will be a differentiating factor for CIOs for the next 10 years or more."

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