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Unformatted text preview: Innovations in IT management McKinsey on IT Number 5, Fall 2005 What global executives What global executives think abou think abou t technology and t technology and innovation innovation A survey uncovers shared A survey uncovers shared perspectives on the challenges perspectives on the challenges now facing companies, but now facing companies, but IT IT execs must still sell tech execs must still sell tech innovation to business leaders. innovation to business leaders. 12 Unraveling the mystery of IT costs Many business managers dont understand IT costs, but explaining them can help forge a true partnership between IT and the business. 2 What IT leaders do What IT leaders do Companies that rely on Companies that rely on IT IT governance systems alone governance systems alone will come up short. will come up short. 1 Introduction: The Introduction: The evolution of IT leadership evolution of IT leadership Information technology is Information technology is now more importantand more now more importantand more expensivethan ever. It expensivethan ever. It desperately needs real leaders. desperately needs real leaders. 7 The CIO as CEO: An The CIO as CEO: An interview with Allan Loren interview with Allan Loren CEO CEO s who understand the s who understand the IT IT function can leverage their function can leverage their CIO CIO s to better advantage. s to better advantage. 22 22 Will Europe embrace Will Europe embrace offshoring? offshoring? Now that some of the barriers Now that some of the barriers to offshoring services are to offshoring services are falling away, companies in falling away, companies in continental Europe have continental Europe have an opportunity to catch up an opportunity to catch up with their global competitors. with their global competitors. McKinsey on IT is written by consultants in McKinsey & Companys global IT practice together with other colleagues in the frm. This publication oFFers readers insights into value-creating strategies and how to translate those strategies into company perFormance. To send comments or request copies, e-mail us: firstname.lastname@example.org Editorial Board: Andrew Appel, Arthur Armstrong, Charles Barthold, Martha Craumer, rank Erbrick, Tom Kiely, Jrgen Laartz, Sam Marwaha, rank Mattern, Roger Roberts, SteFan Spang Editor: Martha Craumer Design Director: Donald Bergh Design: Veronica Belsuzarri, Delilah Zak Managing Editor: Kathy Willhoite Editorial Production: Sue Catapano, Roger Draper, Scott LeFF, Mary Reddy Circulation Manager: Charlotte Christensen Cover illustration: Lloyd Miller Copyright 2005 McKinsey & Company. All rights reserved. This publication is not intended to be used as the basis For trading in the shares oF any company or For undertaking any other complex or signifcant fnancial transaction without consulting with appropriate proFessional advisers....
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