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Investing in Values
Figure 1 illustrates the current environment as we have described it.
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Figure 1 Investing in actions.
This picture is incomplete. Something is missing. The actions we need to take must be consistent, strategic, adaptable, and repeatable under dynamically changing circumstances. The missing piece is values. The complete diagram is shown in Figure 2.
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Figure 2 Investing in values.
Values are guiding principles—basic beliefs that are the fundamental assumptions upon which all subsequent actions are based. As a whole, values define the personality and character of an individual or a group. Values are the essence of an individual or a group and provide guidelines by which to make consistent decisions.
IT is no longer a cost center, and a growing number of highly successful firms are recognizing this fact. IT is an investment and should be managed as such to increase revenue and profits. However, recognizing and managing IT as an investment rather than a cost center is a difficult task and requires a significant cultural shift in most companies.