Management Tip of the Day: Avoid Overinvesting in IT

Are you having trouble viewing this email? If so, click here to see it in a web browser. HOME   |   BLOGS   |   THE MAGAZINE   |   BOOKS   |   AUTHORS   |   STORE RSS   |   Mobile AUGUST 4, 2011 Avoid Overinvesting in IT Businesses worldwide pump $2 trillion a year into IT — and many of them are spending too much. If you fear you're overinvesting, try these three tips: Follow, don't lead. You don't have to be the first one out of the gate. Delay investments to save money and see what standards and best practices emerge. Let your impatient rivals shoulder the costs of experimentation. Focus on risks, not opportunities. Don't deploy your IT in radical new ways. Instead, dedicate your spending to mitigating disruptions like outages and security breaches. Spend less. Evaluate expected returns from IT investments. What's essential spending versus discretionary or unnecessary? Then eliminate waste, such as frequent upgrades. Today's Management Tip was adapted from Harvard Business Review on Aligning Technology with Strategy. Buy the full book to learn more about streamlining these critical elements » Share Today's Tip: FEATURED PRODUCT The Innovator's DNA: Mastering the Five Skills of Disruptive Innovators HBR Press Book Some people are just natural innovators, right? With no apparent effort, they discover ideas for new products, services, and entire businesses. It may look like innovators are born, not made. But according to Jeffrey Dyer and Hal Gregersen, and Clay Christensen anyone can become more innovative. How? Master the discovery skills that distinguish innovative entrepreneurs and executives from ordinary managers. ADVERTISEMENT Follow the Tip: PREVIOUS TIPS 3 Ways to Help Consumers Express Themselves 3 Areas Your Organization Must Align 3 Don'ts of Persuasion 3 Tips for Hiring Recent Graduates Compete on Analytics 3 Ways to Build Confidence 3 Steps to Make a Business Case for Sustainability Don't Blame IT for that Failed Initiative Be a Realistic Optimist 3 Ways to Convince a Skeptic BEST SELLERS HBR's 10 Must Reads: The Essentials HBR's Must Reads Library Set Guide to Persuasive Presentations Guide to Better Business Writing Guide to Getting the Right Work Done Free HBR Interactive issue Download the iPad app HBR Reads, and get your issue with audio and video interviews and multimedia slideshows. Learn more » UNSUBSCRIBE   |   UPDATE YOUR PROFILE   |   MORE EMAIL NEWSLETTERS   |   PRIVACY POLICY Was this email forwarded to you? If so, sign up to start receiving your own copy. ABOUT THIS MAILING LIST You have received this message because you subscribed to the "Management Tip of the Day" email newsletter from Harvard Business Review. If at any point you wish to remove yourself from this list, change your email address, or sign up for other email newsletters and alerts, please visit the Harvard Business Review Email Newsletter Preference Center. OPT OUT If you do not wish to receive any email messages from Harvard Business Review, click here. ADVERTISE WITH HBR This enewsletter is read by thousands of decision makers every day. Learn more about connecting your brand with this audience. Copyright © 2011 Harvard Business School Publishing, an affiliate of Harvard Business School. All rights reserved. Harvard Business Publishing | 60 Harvard Way | Boston, MA 02163 Customer Service: 800-545-7685 (+1-617-783-7600 outside the U.S. and Canada)