Keeping IT on Course in an Unfavorable Economic Environment
Mon Nov 4, 2002 - Mon Nov 4, 2002
The economy continues in the doldrums with few signs of an immediate return to the growth in business that will result in sufficient increase in IT budgets to unleash the pentup demand for new initiatives. That ís the downside. The upside is that companies are finding ways to create a healthier financial position through a more advantageous use of their available resources. In fact, some are so successful at this that they are able to enhance their product and service offerings. Whether the means used is cost reduction, cost containment, merger, acquisition, divestiture or business or IT restructure, IT is usually a major participant.
Another economic downside is the turmoil in the telecommunications industry. This is of concern to business and technology executives because telecommunications is inextricably intertwined in virtually every aspect of existing and future IT business solutions. Low demand and oversupply of product and competitors has already contributed to an extensive shakedown. It will no doubt continue for the foreseeable future and further reshape the industry and impact companiesí strategies and directions.
The need to do more and better with less has lent impetus to three long existing goals. These are productivity and quality improvement, and being able to strengthen the company's position over time. Activities such as Six Sigma and benchmarking are gaining importance. Benchmarking measures need to be expressed in terms that senior and peer management can easily understand and put to use.
This meeting focused on the actions that companies are pursuing to move beyond negative economic pressures and the conditions prevalent in the telecommunications industry.
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