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It is argued that the time is right to rethink the role of IT strategy. Over the last three decades, the prevailing view of information
It is argued that the time is right to rethink the role of IT strategy. Over the last three decades, the prevailing view of information technology strategy has been that it is a functional- level strategy that must be aligned with the firm's chosen business strategy. Even within this so called alignment view, business strategy directed IT strategy. During the last decade, the business infrastructure has become digital with increased interconnections among products, processes, and services. Across many firms spanning different industries and sectors, digital technologies (viewed as combinations of information, computing, communication, and connectivity technologies) are fundamentally transforming business strategies, business processes, firm capabilities, products and services, and key inter- firm relationships in extended business networks. Digital strategy focuses on using technology to improve business performance, whether that means creating new products or reimagining current processes, promoting brands to connect with potential customers by using the internet and other forms of digital communication. Digital strategy specifies the direction an organization will take to create new competitive advantages with technology, as well as the tactics it will use to achieve these changes. A digital strategy will help an organization outline and create a clear path to strategic goals. It will also help an organization to determine benchmarks to hit, and the tactics that will lead an organization to success. Based on your understanding of aforesaid highlights you are requested to select a reputable organization/institution in your country to conduct your research, study and analysis. You can select an organization/institution either from the banking sector or financial sector. By referring to your chosen organization/institution, you should answer the following three questions in an essay formats: Q1. Critically discuss the effect of digital breakthrough on the key forces in the industry environment that affect the demand for product/service of your chosen organisation. What actions should it take keep its competitive advantage alive? (35 marks- 800 words). Q2. Based on your findings in question 1, critically evaluate the key resources available for the chosen organization/institution to effectively and successfully compete within its boundary and sustain a competitive advantage? Discuss whether the chosen organization/institution market position is supported by its value chain activities. As a strategist, what recommendations would you suggest to help the organization/institution to sustain its competitive advantage? (35 marks-800 words). Q3. Critically evaluate the chosen institution/organization Business-Level strategy components in response to industry/sector digitalizing. Suggest ways by which the chosen institution/organization may improve and sustain its competitive position in its sector. (30 marks - 400 words)
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