Smart Businesses are those that adopt emerging new technologies in a way that delivers: a) their business strategy, b) operational excellence across all internal core processes and external supply chain and c) pushes IT development into the hands of the operational teams. However, technology will not be implemented just for the sake of staying ahead, but rather selectively in areas to drive productivity and competitive advantage. This does not involve a wholescale change of technology, but one where all processes and supporting technologies are reviewed on a regular basis, in order to make simple KICK decisions: do we KEEP it, INVEST in it, CHANGE it, or KILL it? And to enable it to make such decisions, the Smart Business will be constantly scanning its external environment for next generation technologies that should trigger the opportunity for innovation in the areas of: new value chains, streamlined processes, new products and services or innovative approaches for go-to-market.
To deliver the smart business will also require ‘smart leaders’ who understand the critical role of technology in delivering their growth strategies, and who utilise digital technologies to have the visibility and control they need over all aspects of the business.