Fast Technological Advancements - Essay Example

The emphasis is not on predicting the technological advancements with absolute certainty, yet strategic planning is based on analyzing the trends in technology and developing strategies to draw maximum benefits through optimal utilization of the latest technology for the company. There are important distinctions between strategic planning and foretelling. A strategy is developed based on past performances, current situation and business scenario, trends, and future implications, and the organization's vision and objectives.

It is not just a prediction into the future but a comprehensive process of developing the strategic direction for the company and allocation of resources to meet business objectives. Of course, this includes a detailed analysis of technological trends and an estimate of technology change with a view to providing optimal technological solutions for business information needs. However, an organization that is unable to analyze the changing trend and fast growth in technology; fails to achieve the desired strategic objectives because of technology obsoleteness; needs for faster, reliable, and secure systems and information transfer; and lack of resources to implement and operate latest information technology products and services.

These information strategies need not be developed with a detailed description of technology implementation. In contrast, an IT strategic plan consists of a description of what the organization wants to have in the future; like an intranet portal for internal communication, a website and e-commerce system, etc. These examples can be part of an organization's information strategy yet they do not focus on the actual technology for implementation. Instead, as and when these projects get started, the existing technology at that particular time will be evaluated through a detailed analysis for making the selection.

For example, an organization might want to develop an e-commerce system using Java technologies for platform independence, or through ASP.Net for security. These decisions are not part of the strategic plan and have to be taken as and when the project plan is to be developed. The strategic plan, however, provides a direction that the organization will take to achieve business objectives; in this case, to establish a line presence for e-commerce business. Hence, although fast technological advancements should not have a great impact on carefully laid down strategy, yet these significantly reduce an organization's competitive advantage if poorly planned and executed.