Remember Warren Buffett’s advice to dotcom investors? He said to be wary of buying stock in companies that weren’t making money, because the investments could not sustain their value.
In the same way, don’t throw money at new technologies just because they’re popular. Drucker would say, “Don’t tell me that you had a great meeting with me. Tell me what you are going to do on Monday that’s different.” Change won’t happen by magic. You need to focus on how to apply innovative IT in ways that will enable your company to grow as Drucker envisioned.
Jack Bergstrand is a former CIO of the Coca-Cola Company (KO) and former CFO of Coca-Cola Beverages. He is founder of Brand Velocity, a consultancy that helps companies accelerate business growth, and the author of Reinvent Your Enterprise. Contact him at email@example.com.
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