Here's the money quote, "It is imperative that IT investment decisions receive full board attention in the current economic climate,” said Streibich. “Executive boards that are not aware of the strategic value that IT can bring to the enterprise are in danger of losing out to faster, more agile competition.”
I've had a frustrating day at work so this seems more like wishful thinking than a truth. Do I believe it, absolutely. Unfortunately, I do not believe that company boards believe it - at least not the average board. This recession is a unique opportunity to invest in technologies that will enable the successful company to seriously damage its competition.
But then, such a company must have two important attributes. First, it must have a strong balance sheet to be able to make R&D investments in bad times. Second, its management must be forward thinking.
Recessions make most management teams defensive and want to tuck into survival mode to wait out the storm. Who are the companies investing for the upturn, right now? I wish I knew.
Thursday, February 19, 2009
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