IT is the business. The management of IT is the integral management discipline to ensure that the business as a whole is superior to the sum of pieces. IT leaders need to manage various conflicts between classic style and digital style of management. The Digital Index is a collection of digital policies and initiatives to enforce digital management disciplines. IT leaders can create digital management indexes to improve the management maturity and reinvent IT as an energetic business partner to delight customers and lead digital transformation seamlessly.
IT value index: Each organization has a set of capabilities that enable it to achieve successful business outcomes, whether financial, brand or double bottom line. IT is like a linchpin for integrating all different business elements into a unique set of business capabilities. IT is the means to an end, not the end itself. It’s important to triangulate IT value from the business lens such as a strategic competency, operational excellence, and business agility, and create an IT value index in building a more comprehensive IT value proposition. IT is the steward of one of the most important business assets – information. The information that IT delivers is what gives executives, managers and staff details that every employee needs to make the right decisions in their position at the right time, for improving overall business speed and competency. There are tangible (cost savings, efficiency, etc.) and intangible (brand equity, sales enablement, etc.) components of IT value. To improve IT organizational maturity from a support center to a strategic business partner, IT investment is more effective in improving profitability by increasing revenue than by decreasing operating expenses. The well-run IT organizations can demonstrate agility by being responsive to tactical business opportunities to the degree possible while remaining focused on developing and executing a longer-term strategy. The more integration between business and IT the more level of agility for both will be achieved.
Personal Innovation-index (PÏ): Forward-thinking organizations introduce the Personal Innovation-index (PÏ) to drive growth, catalyze creativity and innovation within a company. In relation to this index, the PÏ will indicate the contributed economic value of each employee, including both executive/management and professional/expert, in relation to their innovative initiatives and personal activities, commitment, influences, impact, and contributions. More specifically, the Personal Innovation Index represents the innovation maturity level of employees based on their personal impact and influences on innovation, their ability to innovate, their ability to network externally, their ability to collaborate and facilitate innovation success. Generally speaking, the more innovative the employees are, the less tolerant of structure (policies, rules, and paradigms) and less respectful of consensus one is. Innovators often prefer to “do things differently.” Select for empowerment, select for curiosity, select for learning agile, and select for breakthrough.
The Barrett Values Index: It is a quantitative, qualitative and inclusive measurement tool for gauging organizational culture. The variety of industry research clearly indicated that the carefully crafted and well-intended strategy fail in the execution phase if culture is weak because the shared value and buy-in at all levels of the organization are misaligned. A good culture can perhaps make an average strategy working, but a bad culture will fail a good strategy. The strategic alignment happens as a by-product of culture tuning. The Barrett Value Index center on three questions that all employees should ask themselves:
(1) what are your personal values
(2) what do you see as the company’s current values
(3) what do you believe the future company values should be
Directing energy and attention at measuring and improving culture will yield synergistic results in desired change. Or using the synthesis of Socio-Technical Systems (STS) Analysis to measure change-readiness against the contexts of goals, people, processes, procedures, infrastructure, technology, and culture.
Digital IT is impacting every business unit and is becoming the very driver of business change. With emerging lightweight digital technologies and overwhelming growth of information, IT management shouldn’t just practice transactional activities, it needs to create some important digital indexes, leverage good mechanisms, and discover both the art and science of digital management discipline.
read more at http://futureofcio.blogspot.com/ by Pearl Zhu