Part 1: Strategy Development
Present and explain five key IT/IS initiatives that should form company’s (mobile industry company) 3-5 year IT/IS strategy. You should present this strategy using Earl’s Risk & Return Portfolios taxonomy, then by briefly explaining / justifying each of your IT/IS initiatives in terms of business benefits risk and return.
Part 2: Implementation Method
For any one of your initiatives, explain and justify what implementation method you would use. Your justification should include a critical appraisal of the method.
And what kind of help would you like from us? We cannot write your paper for you, but do you need help finding information?
Please re-post ... with a specific question.
hello...yes i don't expect anyone to write the paper for me..yeah i don't get any information on earl's risk and return on the net so i don't know how to answer it..i don't know what are the IT/IS initiatives to present it with the risk and return so i would be thankful if someone explains to me with an example on how to do it
Part 1: Strategy Development
To develop a 3-5 year IT/IS strategy for a mobile industry company, we will use Earl's Risk & Return Portfolios taxonomy to present five key IT/IS initiatives. This approach categorizes initiatives based on their potential business benefits, risks, and returns.
1. Initiative - Cloud Computing Implementation:
This initiative involves migrating the company's IT infrastructure and services to the cloud. The potential benefits include improved scalability, flexibility, cost savings, and enhanced collaboration. The risks are primarily related to data security and potential disruption during the migration process. However, the returns in terms of efficiency gains and reduced IT maintenance costs outweigh the risks.
2. Initiative - Big Data Analytics:
Implementing big data analytics involves leveraging large volumes of data to gain valuable insights and improve decision-making. The potential benefits include enhanced customer targeting, personalized marketing, and predictive analytics for demand forecasting. Risks are associated with data privacy, data quality, and complexity in data analysis. However, the potential returns in terms of improved customer satisfaction and operational efficiency make this initiative worthwhile.
3. Initiative - Internet of Things (IoT) Integration:
The IoT integration initiative aims to connect and communicate with various devices, enabling real-time data collection and analysis. This can lead to improved operational efficiency, remote monitoring, and predictive maintenance. Risks associated with IoT implementation include cybersecurity and data privacy concerns. However, the potential returns in terms of cost reduction, improved customer experience, and new revenue streams outweigh the risks.
4. Initiative - Mobile App Development:
This initiative focuses on developing mobile applications to enhance customer engagement and provide value-added services. Benefits include improved customer satisfaction, increased brand loyalty, and potential revenue from app-based sales. Risks associated with this initiative involve intense competition and the need for ongoing updates and security measures. The relatively low implementation complexity and significant returns make it an attractive initiative.
5. Initiative - Artificial Intelligence (AI) Implementation:
Implementing AI involves using machine learning algorithms and automation to optimize business processes, provide personalized user experiences, and improve decision-making. Benefits include improved operational efficiency, enhanced customer service, and advanced analytics capabilities. Risks associated with AI implementation include ethical concerns, data privacy, and skill gaps. However, the long-term potential returns in terms of cost reduction and strategic differentiation make this initiative valuable.
Part 2: Implementation Method
For the purpose of this explanation, let's focus on the Cloud Computing Implementation initiative and discuss the implementation method.
One potential implementation method for migrating to the cloud is the "lift and shift" approach. This involves moving existing applications and infrastructure as-is to the cloud provider without making significant changes. The justification for this method includes:
1. Minimized Disruption: The lift and shift approach allows for a relatively seamless transition as it minimizes the need for modifying applications and infrastructure. This reduces the risk of service interruptions during the migration process.
2. Cost and Time Efficiency: By avoiding the need to reimplement or redesign the existing systems, the lift and shift approach can be more cost-effective and time-efficient compared to other approaches. It allows organizations to quickly realize the benefits of cloud computing without significant upfront investments.
3. Flexibility and Scalability: Once the migration is completed, the company can leverage the cloud provider's infrastructure to scale resources up or down based on demand. This flexibility allows for better cost management and increased agility.
However, it is important to critically appraise the lift and shift approach. This method may not fully exploit the cloud's potential benefits, such as optimizing applications for cloud-native architectures or taking advantage of managed services. It is essential to assess whether the company's existing systems are compatible with the chosen cloud provider, ensuring minimal compatibility issues and optimization opportunities.
Ultimately, the choice of implementation method depends on factors such as the organization's goals, existing technology landscape, budget, and timeline. It is crucial to conduct a thorough analysis of these factors and assess the potential risks and benefits of each method before making a final decision.