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Topic: Summarize the uploaded Document Instructions: Need minimum 500 wordsNeed 3 APA ReferencesNo Plagiarism please chapter_2.pdf Unformatted Attachment Preview Chapter 3 Making IT Count1 F rom the first time IT started making a significant dent in corporate balance sheets, the holy grail of academics, consultants, and business and IT managers has been to show that what a company spends on IT has a direct impact on its performance. Early efforts to do this, such as those trying to link various measures of IT input (e.g., budget dollars, number of PCs, number of projects) with various measures of business performance (e.g., profit, productivity, stock value) all failed to show any relationship at all (Marchand et al. 2000). Since then, everyone has properly concluded that the relationship between what is done in IT and what happens in the business is considerably more complex than these studies first supposed. In fact, many researchers would suggest that the relationship is so filtered through a variety of “conversion effects” (Cronk and Fitzgerald 1999) as to be practically impossible to demonstrate. Most IT managers would agree. They have long argued that technology is not the major stumbling block to achieving business performance; it is the business itself—the processes, the managers, the culture, and the skills—that makes the difference. Therefore, it is simply not realistic to expect to see a clear correlation between IT and business performance at any level. When technology is successful, it is a team effort, and the contributions of the IT and business components of an initiative cannot and should not be separated. Nevertheless, IT expenditures must be justified. Thus, most companies have concentrated on determining the “business value” that specific IT projects deliver. By focusing on a goal that matters to business (e.g., better information, faster transaction processing, reduced staff), then breaking this goal down into smaller projects that IT can affect directly, they have tried to “peel the onion” and show specifically how IT delivers value in a piecemeal fashion. Thus, a series of surrogate measures are usually used to demonstrate IT’s impact in an organization. (See Chapter 1 for more details.) More recently, companies are taking another look at business performance metrics and IT. They believe it is time to “put the onion back together” and focus on what 1 This chapter is based on the authors’ previously published article, Smith, H. A., J. D. McKeen, and C. Street. “Linking IT to Business Metrics.” Journal of Information Science and Technology 1, no. 1 (2004): 13–26. Reproduced by permission of the Information Institute. 49 M03_MCKE0260_03_GE_C03.indd 49 12/3/14 8:35 PM 50 Section I • Delivering Value with IT really matters to the enterprise. This perspective argues that employees who truly understand what their business is trying to achieve can sense the right ways to personally improve performance that will show up at a business unit and organizational level. “People who understand the business and are informed will be proactive and … have a disposition to create business value every day in many small and not-so-small ways” (Marchand et al. 2000). Although the connection may not be obvious, they say, it is there nevertheless and can be demonstrated in tangible ways. The key to linking what IT does to business performance is, therefore, to create an environment within which everyone thoroughly understands what measures are important to the business and is held accountable for them. This point of view does not suggest that all the work done to date to learn how IT delivers value to an organization (e.g., business cases, productivity measures) has been unnecessary, only that it is incomplete. Without close attention to business metrics in addition, it is easy for IT initiatives and staff to lose their focus and become less effective. This chapter looks at how these controversial yet compelling ideas are being pursued in organizations to better understand how companies are attempting to link IT work and firm performance through business metrics. The first section describes how business metrics themselves are evolving and looks at how new management philosophies are changing how these measures are communicated and applied. Next it discusses the types of metrics that are important for a well-rounded program of business measurement and how IT can influence them. Then it presents three different ways companies are specifically linking their IT departments with business metrics and the benefits and challenges they have experienced in doing this. This section concludes with some general principles for establishing a business measurement program in IT. Finally, it offers some advice to managers about how to succeed with such a program in IT. Business Measurement: An Overview Almost everyone agrees that the primary goal of a business is to make money for its shareholders (Goldratt and Cox 1984; Haspeslagh et al. 2001; Kaplan and Norton 1996). Unfortunately, in large businesses this objective frequently gets lost in the midst of people’s day-to-day activities because profit cannot be measured directly at the level at which most employees in a company work (Haspeslagh et al. 2001). This “missing link” between work and business performance leads companies to look for ways to bridge this gap. They believe that if a firm’s strategies for achieving its goal can be tied much more closely to everyday processes and decision making, frontline employees will be better able to create business value. Proponents of this value-based management (VBM) approach have demonstrated that an explicit, firmwide commitment to shareholder value, clear communication about how value is created or destroyed, and incentive systems that are linked to key business measures will increase the odds of a positive increase in share price (Haspeslagh et al. 2001). Measurement counts. What a company measures and the way it measures ­influence both the mindsets of managers and the way people behave. The best measures are tied to business performance and are linked to the strategies and business capabilities of the company. (Marchand et al. 2000) M03_MCKE0260_03_GE_C03.indd 50 12/3/14 8:35 PM Chapter 3 • Making IT Count 51 Although companies ascribe to this notion in theory, they do not always act in ways that are consistent with this belief. All too often, therefore, because they lack clarity about the links between business performance and their own work, ­individuals and even business units have to take leaps of faith in what they do (Marchand et al. 2000). Nowhere has this been more of a problem than in IT. As has been noted often, IT investments have not always delivered the benefits expected (Bensaou and Earl 1998; Holland and Sharke 2001; Peslak 2012). “Efforts to measure the link between IT investment and business performance from an economics perspective have… failed to establish a consistent causal linkage with sustained business ­profitability” (Marchand et al. 2000). Value-based management suggests that if IT staff do not understand the business, they cannot sense how and where to change it effectively with technology. Many IT and business managers have implicitly known this for some time. VBM simply gives them a better framework for implementing their beliefs more systematically. One of the most significant efforts to integrate an organization’s mission and ­strategy with a measurement system has been Kaplan and Norton’s (1996) balanced scorecard. They explain that competing in the information age is much less about ­managing physical, tangible assets and much more about the ability of a company to mobilize its intangible assets, such as customer relationships, innovation, employee skills, and information technology. Thus, they suggest that not only should business measures look at how well a company has done in the past (i.e., financial performance), but they also need to look at metrics related to customers, internal business processes, and learning and growth that position the firm to achieve future performance. Although it is difficult putting a reliable monetary value on these items, Kaplan and Norton suggest that such nonfinancial measures are critical success factors for superior financial performance in the future. Research shows that this is, in fact, the case. Companies that use a balanced scorecard tend to have a better return on investment (ROI) than those that rely on traditional financial measures alone (Alexander 2000). Today many companies use some sort of scorecard or “dashboard” to track a variety of different metrics of organizational health. However, IT traditionally has not paid much attention to business results, focusing instead on its own internal measures of performance (e.g., IT operations efficiency, projects delivered on time). This has perpetuated the serious disconnect between the business and IT that often manifests itself in perceptions of poor alignment between the two groups, inadequate payoffs from IT investments, poor relationships, and finger-pointing (Holland and Sharke 2001; Peslak 2012; Potter 2013). All too often IT initiatives are conceived with little reference to major business results, relying instead on lower-level business value surrogates that are not always related to these measures. IT organizations are getting much better at this bottom-up approach to IT investment (Smith and McKeen 2010), but undelivered IT value remains a serious concern in many organizations. One survey of CFOs found that only 49 percent felt that their ROI expectations for technology had been met (Holland and Sharke 2001). “Despite considerable effort, no practical model has been developed to measure whether a company’s IT investments will definitely contribute to sustainable competitive advantage” (Marchand et al. 2000). Clearly, in spite of significant efforts over many years, traditional IT measurement programs have been inadequate at M03_MCKE0260_03_GE_C03.indd 51 12/3/14 8:35 PM 52 Section I • Delivering Value with IT assessing business value. Many IT organizations believe, therefore, that it is time for a different approach to delivering IT value, one that holds IT accountable to the same measures and goals as the rest of the business. Key Business Metrics for IT No one seriously argues that IT has no impact on an organization’s overall financial performance anymore. There may be disagreement about whether it has a positive or a negative impact, but technology is too pervasive and significant an expense in most firms for it not to have some influence on the corporate bottom line. However, as has been argued earlier, we now recognize that neither technology nor business alone is responsible for IT’s financial impact. It is instead a joint responsibility of IT and the business. This suggests that they need to be held accountable together for its impact. Some companies have accepted this principle for individual IT projects (i.e., holding business and IT managers jointly responsible for achieving their anticipated benefits), yet few have extended it to an enterprise level. VBM suggests that this lack of attention to enterprise performance by IT is one reason it has been so hard to fully deliver business value for technology investments. Holding IT accountable for a firm’s performance according to key financial metrics is, therefore, an important step toward improving its contribution to the corporate bottom line. However, although financial results are clearly an important part of any measurement of a business’s success today, they are not enough. Effective business metrics programs should also include nonfinancial measures, such as customer and employee satisfaction. As already noted, because such nonfinancial measures are predictive of future performance, they offer an organization the opportunity to make changes that will ultimately affect their financial success. Kaplan and Norton (1996) state “the importance of customer satisfaction probably cannot be overemphasized.” Companies that do not understand their customers’ needs will likely lose customers and profitability. Research shows that merely adequate satisfaction is insufficient to lead to customer loyalty and ultimately profit. Only firms where customers are completely or extremely satisfied can achieve this result (Heskett et al. 1994). As a result, many companies now undertake systematic customer satisfaction surveys. However, in IT it is rare to find external customer satisfaction as one of the metrics on which IT is evaluated. While IT’s “customers” are usually considered to be internal, these days technology makes a significant difference in how external customers experience a firm and whether or not they want to do business with it. Systems that are not reliable or available when needed, cannot provide customers with the information they need, or cannot give customers the flexibility they require are all too common. And with the advent of online business, systems and apps are being designed to interface directly with external customers. It is, therefore, appropriate to include external customer satisfaction as a business metric for IT. Another important nonfinancial business measure is employee satisfaction. This is a “leading indicator” of customer satisfaction. That is, employee satisfaction in one year is strongly linked to customer satisfaction and profitability in the next (Koys 2001). Employees’ positive attitudes toward their company and their jobs lead to positive behaviors toward customers and, therefore, to improved financial performance M03_MCKE0260_03_GE_C03.indd 52 12/3/14 8:35 PM Chapter 3 • Making IT Count 53 (Rucci et al. 1998; Ulrich et al. 1991). IT managers have always watched their own employee satisfaction rate intently because of its close links to employee turnover. However, they often miss the link between IT employee satisfaction and customer satisfaction—both internal customer satisfaction, which leads to improved general employee satisfaction, and external customer satisfaction. Thus, only a few companies hold IT managers accountable for general employee satisfaction. Both customer and employee satisfaction should be part of a business metrics program for IT. With its ever-growing influence in organizations, technology is just as likely to affect external customer and general employee satisfaction as many other areas of a business. This suggests that IT has three different levels of measurement and accountability: 1. Enterprise measures. These tie the work of IT directly to the performance of the organization (e.g., external customer satisfaction, corporate financial performance). 2. Functional measures. These assess the internal work of the IT organization as a whole (e.g., IT employee satisfaction, internal customer satisfaction, operational performance, development productivity). 3. Project measures. These assess the performance of a particular project team in delivering specific value to the organization (e.g., business case benefits, delivery on time). Functional and project measures are usually well addressed by IT measurement programs today. It is the enterprise level that is usually missing. Designing Business Metrics for IT The firms that hold IT accountable for enterprise business metrics believe this approach fosters a common sense of purpose, enables everyone to make better decisions, and helps IT staff understand the implications of their work for the success of the organization (Haspeslagh et al. 2001; Marchand et al. 2000; Potter 2013; Roberts 2013). The implementation of business metrics programs varies widely among companies, but three approaches taken to linking IT with business metrics are distinguishable. 1. Balanced scorecard. This approach uses a classic balanced scorecard with measures in all four scorecard dimensions (see the “Sample Balanced Scorecard Business Metrics” feature). Each metric is selected to measure progress against the entire enterprise’s business plan. These are then broken down into business unit plans and appropriate submetrics identified. Individual scorecards are then developed with metrics that will link into their business unit scorecards. With this approach, IT is treated as a separate business unit and has its own scorecard linked to the business plan. “Our management finally realized that we need to have everyone thinking in the same way,” explained one manager. “With enterprise systems, we can’t have people working in silos anymore.” The scorecards are very visible in the organization with company and business unit scorecards and those of senior executives posted on the company’s intranet. “People are extremely interested in seeing how we’re doing. Scorecards have provided a common framework for our entire company.” They also provide clarity for employees about their roles in how they affect key business metrics. M03_MCKE0260_03_GE_C03.indd 53 12/3/14 8:35 PM 54 Section I • Delivering Value with IT Sample Balanced Scorecard Business Metrics • • • • • • • • Shareholder value (financial) Expense management (financial) Customer/client focus (customer) Loyalty (customer) Customercentric organization (customer) Effectiveness and efficiency of business operations (operations) Risk management (operations) Contribution to firmwide priorities and business initiatives (growth) Although scorecards have meant that there is better understanding of the business’s drivers and plans at senior management levels, considerable resistance to them is still found at the lower levels in IT. “While developers see how they can affect our customers, they don’t see how they can affect shareholder value, profit, or revenue, and they don’t want to be held accountable for these things,” stated the same manager. She noted that implementing an effective scorecard program relies on three things: good data to provide better metrics, simplicity of metrics, and enforcement. “Now if someone’s scorecard is not complete, they cannot get a bonus. This is a huge incentive to follow the program.” 2. Modified scorecard. A somewhat different approach to a scorecard is taken by one company in the focus group. This firm has selected five key measures (see the “Modified Scorecard Business Metrics” feature) that are closely linked to the company’s overall vision statement. Results are communicated to all staff on a quarterly basis in a short performance report. This includes a clear explanation of each measure, quarterly progress, a comparison with the previous year’s quarterly results, and a “stretch” goal for the organization to achieve. The benefit of this approach is that it orients all employees in the company to the same mission and values. With everyone using the same metrics, alignment is much clearer all the way through the firm, according to the focus group manager. In IT these key enterprise metrics are complemented by an additional set of business measures established by the business units. Each line of business identifies one or two key business unit metrics on which they and their IT team Modified Scorecard Business Metrics • Customer loyalty index. Percentage of customers who said they were very satisfied with the company and would recommend it to others. • Associate loyalty index. Employees’ perception of the company as a great place to work. • Revenue growth. This year’s total revenues as a percentage of last year’s total revenues. • Operating margin. Operating income earned before interest and taxes for every dollar of revenue. • Return on capital employed. Earnings before interest and tax divided by the capital used to generate the earnings. M03_MCKE0260_03_GE_C03.indd 54 12/3/14 8:35 PM Chapter 3 • Making IT Count 55 will be measured. Functional groups within IT are evaluated according to the same ­metrics as their b ... Purchase answer to see full attachment
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