Reference no: EM133781711

Question

Monitor and Forecast (Stage 1): Research: Investigate the current trends and status of the selected industry. Forecast: Use forecasting methods to predict the impact of the chosen technology on the industry. Framework Application (Stage 2): Select a Framework: Choose a relevant strategic framework to guide your approach (Gartner, Deloitte, or Xirocco) Analyze: Use the framework. Technology Fit and Selection (Stage 3): Evaluate Fit: Determine how the chosen technology aligns with industry needs and company capabilities. Plan Implementation: Develop a plan for technology adoption, considering stakeholders, risks, and integration requirements. Competitive Advantage (Stage 4): Strategy Development: Formulate strategies to leverage technology for a competitive edge in the market. Value Proposition: Outline how the technology will offer unique value or solve existing industry problems. Sourcing and Partnerships (Stage 5): Identify Partners: Determine if partnerships or outsourcing are needed for technology development or implementation. Sourcing Strategy: Develop a strategy for sourcing the technology, whether through in-house development, partnerships, or third-party vendors. Absorption and Automation Plan (IT integration) (Stage 6): Integration Plan: Design a roadmap for integrating the technology into current operations. Automation Strategy: Identify processes that can be automated for efficiency and cost reduction.