Why does business need strategy?

[mehadihasan123456]

Why does a business need an IT strategy?

An IT strategy is essential for both business and IT leaders to ensure that information technology is aligned and effective in achieving the company's goals. Below are reasons why an IT strategy is important for each of these roles, with examples.

For business leaders
Aligning IT with business goals. A company's CEO may set a goal to increase market share by 20% within two years. An IT strategy may include developing a new e-commerce platform to increase online sales and attract bahamas email list new customers.
Cost optimization and budget management. The CFO may be looking to reduce operating expenses. The IT strategy may include migrating to cloud technologies, which reduces infrastructure and support costs.
Improving process efficiency. A production manager may face challenges in managing supply chains. An IT strategy may suggest implementing an ERP system to automate and optimize these processes.
Risk management and security . Management may be generally concerned about cyber threats. An IT strategy may include measures to strengthen cyber security, such as implementing modern protection systems and training employees.
Innovation and Competitiveness: The CMO may want to improve customer engagement. The IT strategy may include implementing analytics tools to better understand customer needs and personalize offerings.