Business Innovation and ICT Strategies

This book investigates the real process of unleashing the power of Information and Communications Technology (ICT) through Open Innovation and strategic choices. It covers the most important aspects of ICT in a nutshell and details the road to the future through business innovation. ICT, which chiefly consists of telecom and IT, is currently permeating and transforming every sphere of life, ranging from commerce, manufacturing, education and healthcare, to agriculture, banking, governance, media and entertainment. Both the World Bank and the Asian Development Bank have recognized that telecommunications are now essential to a country's economic development and competitiveness. However, the forces unleashed by ICT are so powerfully disruptive and rapid that organizations not only struggle to harness the potential of ICT but can also be overwhelmed by the changes, complexity, competition and regulation. Leveraging ICT requires knowing how to organize, manage and exploit the new developments effectively, both internally and with strategic partners in the industry. Organizations cannot attempt to accomplish everything on their own, even through acquisitions. The driving theme of the book is about opening up organizational and business models. From the perspective of management and technology, this book presents an integrated roadmap to a future with ICT, and specific steps along the way. In this context, it discusses the implementation of the Quadruple Helix Model, driven by Open Innovation, with four kinds of collaborators: Partners (including firms like Telcos), Academic/Research Institutes, Government Agencies, and Users. Conceiving the right strategy and building the necessary social capital are essential parts of such a process framework. Collaboration, cooperation and competition are the main drivers to face the ICT tsunami. Focus and integration will also be key to innovation strategy, even while collaborating with local and international partners for diversification. Technological knowledge must be aligned with market knowledge, and firms must look for a better fit among business-critical factors, new opportunities and competencies.