Business Technology: Surviving The Three-Question Exercise - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News
Commentary
11/27/2002
02:07 PM
Commentary
Commentary
Commentary
50%
50%

Business Technology: Surviving The Three-Question Exercise

Quick: When you hear the name General Electric, what comes to mind? Bringing good things to life? Jack Welch? Jet engines? Financing? Six Sigma? Light bulbs? Or do you think of an IT software and services company? One that offers "clinical information systems and Six Sigma-based management tools to enable a real-time, integrated electronic medical record" extending from hospitals to health-care systems and now into physicians' offices?

That's the newest venture for one of the world's most valuable and visible corporations, a global conglomerate that has defied conventional wisdom stating that conglomerates are dinosaurs and that the only path to success in the 21st century is the one marked focus, focus, focus. Last week, GE Medical Systems, a $9 billion maker of medical imaging and technology, acquired Millbrook Corp., a privately held supplier of record-keeping software for physicians' offices. And the name of the business that will oversee the software company is telling: GE Medical Systems Information Technologies, a separate business within the $9 billion Medical Systems unit.

Which raises the Three Questions exercise that's been trotted out before in this space but that deserves another look as companies of every type in every market look for growth opportunities. And the first of the Three Questions is this: What business are you in today? I think you'll be amazed at how often you'll get a reply along the lines of, "Hmm, that's a tough question," or "Well, that depends," or "That's not a relevant question." Then ask, "In six months, what business will your customers want you to be in?" And you'll probably find some people who'll reply, "How should I know?" or "Why do customers always have to change their minds about what they want from me?" Then Question Three: "In 12 months, what business will your customers demand that you be in?"

A raft of new economic reports reinforced growing perceptions that the U.S. economy isn't heading back into recession and appears to be on course to grow, albeit modestly, in the months ahead....The Commerce Department reported that third-quarter inflation-adjusted gross domestic product rose at a surprisingly robust annual rate of 4.0%, up from an earlier estimate of 3.1%....More encouraging for the future, the Conference Board said its consumer confidence index rose to 84.1 in November from 79.6 in October.

-- The Wall Street Journal, Nov. 27


If we can provide honest and clear answers to those Three Questions, we then have to map our own companies' ability--or inability--to hit those cutover points in six months and 12 months. Do we have in our own companies the nimbleness, agility, and requisite will to adapt and evolve not in time with some preordained Three-Year Strategic Plan but rather in step with customers' needs? And if we don't, how can we make it so?

What business is GE in? Well, it's in a lot of businesses, but one of them is now very clearly health-care software. That came about as a result of the company's desire to extend its range of products and related services and expertise more deeply into the fields where it's already a major player. In the not-too-distant past, GE's footprint in the health-care field was limited to giant imaging machines. Now it's in physicians' offices, which means it very directly and specifically touches patients, the customer's customer. And as those customers, the doctors, see what this new software and services can do for them, GE will have to start to ask itself once again that third question: In 12 months, what business will those customers demand that GE be in? Because that's where GE will have to be just one year later.

We're going to do a live version of our Three Questions exercise early next year at our Spring Conference with some participants from great and rapidly evolving companies, along with plenty of interaction with attendees. The conference, which will run March 2 to 5 in Amelia Island, Fla., also will feature speakers including Procter & Gamble CIO Steve David, Dell Computer CIO Randy Mott, and Richard Clarke, the federal government's cybersecurity czar. To find out all the details, check out informationweek.com/events/03spring.


To discuss this column with other readers, please visit Bob Evans's forum on the Listening Post.

To find out more about Bob Evans, please visit his page on the Listening Post.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
State of the Cloud
State of the Cloud
Cloud has drastically changed how IT organizations consume and deploy services in the digital age. This research report will delve into public, private and hybrid cloud adoption trends, with a special focus on infrastructure as a service and its role in the enterprise. Find out the challenges organizations are experiencing, and the technologies and strategies they are using to manage and mitigate those challenges today.
Commentary
Enterprise Guide to Edge Computing
Cathleen Gagne, Managing Editor, InformationWeek,  10/15/2019
News
Rethinking IT: Tech Investments that Drive Business Growth
Jessica Davis, Senior Editor, Enterprise Apps,  10/3/2019
Slideshows
IT Careers: 12 Job Skills in Demand for 2020
Cynthia Harvey, Freelance Journalist, InformationWeek,  10/1/2019
Register for InformationWeek Newsletters
Video
Current Issue
Getting Started With Emerging Technologies
Looking to help your enterprise IT team ease the stress of putting new/emerging technologies such as AI, machine learning and IoT to work for their organizations? There are a few ways to get off on the right foot. In this report we share some expert advice on how to approach some of these seemingly daunting tech challenges.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll