Developing your business acumen

05.12.2005
In today's market, expectations for IT professionals are changing. We are at a point where it is assumed that IT professionals possess a solid technical foundation. What is different is that corporate leadership is expecting everyone, IT employees included, to develop his business acumen as well, to gain a better understanding of the market forces affecting the organization. This requires IT professionals to develop a business-minded approach to technology projects, in order to drive credibility with their internal customers.

Unlimited IT budgets are gone. Instead, there has to be value added. In fact, to better leverage technology, IT people are being integrated into the entire company and are expected to learn the business.

Fortunately for midlevel IT professionals, the corporate culture is also changing to support this shift. Generally speaking, executive leadership understands the importance of technology and will likely support efforts by the IT group to interface with other business units. In fact, in terms of new hires, what we are seeing in all markets is that corporate leadership is actively looking for IT professionals that already possess broader business experience.

Midlevel IT staffers are not the only ones affected, however. The trend started with the need for technology leadership to become business thought leaders as well as technology leaders. As CIOs start interfacing with other business units, so must their staffs. Essentially, if you are going to have a cohesive team, you need everyone on board and in sync.

The impact of outsourcing

Outsourcing has accelerated this shift. With outsourcing, organizations are generally left with a core group of IT professionals who do not have direct control over all of the technology functions. Instead, the role of IT is shifting from driving technology to leveraging it. Doing this entails interfacing with your internal customers and then influencing them, the ultimate users. Selling your technology solutions, however, requires that you establish your credibility and that you develop your communication and consensus-building skills. You can establish your credibility by developing your business acumen -- essentially your understanding of what makes the business run.