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Journal of Management Excellence: Business Transformation Updated - March 2011

An Oracle Publication Updated - March 2011

Journal of Management Excellence: Business Transformation

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Journal of Management Excellence: Business Transformation Updated - March 2011

Letter from the Editor
Slowly but surely we are expanding the scope of the Journal of Management Excellence. In this issue, we discuss “business transformation”. Business transformation has many different facets, and we discuss a number of them. Thomas Oestreich looks at the perspective of the CIO, and how IT needs to grow from a supporting function in the value chain to a force that drives innovation at the core of the business. Kevin Narain, managing partner at European consulting firm INEUM, discusses finance transformation in an excellent article called "Learning the Ropes". If Toby Hatch there is one thing we (should have) learned from the current Senior Principal, Performance economic situation, it is that risk and performance management Management Applications should be transformed to be more integrated, and Brian Gregory toby.hatch@oracle.com describes how to do that. Kathy Horton describes cultural transformation, using two case studies. Dr. Bill Stratton, of Dixie State College of Utah, and the Business Research and Analysis Group take a wider approach and expand the idea of business transformation using the value chain. Jim Gurowka, of the Institute of Management Accountants, introduces the idea of a Performance Architecture. Sandeep Banerjie describes the relationship between eliminating IT complexity and business transformation. And as always, Mark Conway provides some interesting points for further reading. It seems to me, looking at all the articles, that business transformation itself has transformed over the years; gone are the days of reengineering the complete business in a big bang project style. Business transformation today is more often a series of smaller steps, gradually and in a controlled way leading to a new desired state. Most transformations are driven by the external world; by political, economical, social, technological, environmental and legal change. These external forces change, and it is not always possible to drive them yourself. Agility is the key to successful and continuous business transformation. The goal may be clear, the grand vision may still stand, but the path must be continuously reevaluated. Thank you to all contributors of the Journal of Management Excellence for your thoughtful insights in this issue. If you are interested in contributing, please contact me at toby.hatch@oracle.com. Toby P.S. You can download the Journal of Management Excellence archives at http://www.oracle.com/us/solutions/ent-performance-bi/resource-library-wp-063992.html. For more thought leadership, visit www.oracle.com/thoughtleadership.

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Journal of Management Excellence: Business Transformation Updated - March 2011

Business Innovation: The CIO Perspective
There are many different ways for businesses to innovate, such as developing new products or services, creating new and groundbreaking business processes, or adopting market-changing business models. By definition, business innovation changes the way business is performed and, once introduced, becomes a license to play and the basis for the next innovative step – transformation. One interesting question is, “How does the Chief Information Officer (CIO) and his IT systems contribute to transforming the business in innovative ways?”. Thomas Oestreich, Chief EPM Strategist thomas.oestreich@oracle.com

Enterprises have to change the way they operate in order to either gain or retain competitiveness.

Three of the driving factors that are most important to understanding the innovation introduced by IT systems are: 

Business Process Management, i.e., the systematic definition, automation, and standardization of business processes or transactions The technology...
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