WhereScape Consulting New Zealand was recently working with a client in Hong Kong to help them develop an information strategy. In the planning for the work, the client shared two previous documents delivered by other consultancies, from 2014 and 2015 respectively. At the initial kick off meeting, the project sponsor lamented "we've told the business twice now that we would do something, we really need to do something this time."
Unfortunately that was not the first time we have seen information strategies that failed to launch. More to the point, most organisations we speak with have a strategy of some kind, but most are not making good progress in achieving it. Frequently the strategy is a document that cost a great deal to produce, that ends up filed away and never referenced again.
Many organisations embark on information strategies, however research from Forbes, McKinsey, and Kotter shows worldwide an average of 70% of strategic initiatives fail. The failure is typically seen as the strategy moves from planning to implementation, when more and more people become involved, and the process becomes bogged down by organisational change impediments.
Why do you need an information strategy?
Information is an essential asset to all organisations. Without information relating to customers, products, staff, business processes, suppliers, property, and innumerable other aspects of a modern organisation, all organisations would grind to a halt. As essential as information is, it is often not managed as well as a critical asset should be.
Find out how to successfully manage your data and put in place an effective information strategy by downloading the full article below.