BOSTON (Reuters) - Big investments in state-of-the-art IT often fail to generate commensurate returns, and sometimes “good enough” really is good enough, says Harvard Business Review.
The Harvard Management Tip of the Day offers quick, practical management tips and ideas from Harvard Business Review and HBR.org (www.hbr.org). Any opinions expressed are not endorsed by Reuters.
”Knowing how much to spend on IT is difficult. You need a system that works, of course, but often big investments fail to generate hefty returns.
And yet many executives, IT and non-IT alike, push for state-of-the-art when it’s simply not necessary.
Don’t let executives demand top-level services when the average will do. Determine what you absolutely need in terms of reliability, responsiveness, and accessibility and match your budget to those needs. Don’t waste money beyond that.
For example, if brief downtimes won’t hinder your business, only build back-ups for when your system crashes for over an hour.”
-- Today’s management tip was adapted from the book “HBR on Aligning Technology with Strategy.”
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