Australian based Managed IT support offices in Melbourne, Sydney and Brisbane
Powernet Colour a VITG Company POS

How to strike a balance between IT risks and IT innovations

Sometimes it seems like we’re just getting used to the latest technology when it becomes obsolete. Savvy business managers can get whiplash trying to stay current on what’s new, what’s coming and most important what will benefit the business. Staying innovative is critical for survival in today’s markets, and businesses who innovate consistently are all but guaranteed to come out on top. But is there a risk in too much IT innovation? Where is the tipping point for risk versus reward? In this blog, we aim to find out.

Managing the risky business of innovation

The very nature of innovation involves some risk. Creativity is a risky business. Granted, you have to have some element of creativity in order to get to a different (and hopefully better) place. So, why doesn’t every innovative idea work? Too often, executives don’t stay the course when things get choppy during innovation initiatives. They bail too soon or don’t support the innovation fully with the appropriate resources. And sometimes, a company’s infrastructure simply can’t keep pace with the necessary change.

Finding a balance instead of a tipping point

Ideally, businesses should find room for both radical innovation and projects that grow incrementally. A lot will hinge on the company’s new product development schedule as well as the internal company culture. Introducing a supercharged new product release schedule into a company with a high-control environment, for example, is asking for trouble.  Stay true to who your company culture and make changes as you need to scale.

Providing benefits for the greater good

Investing in any new technology involves some element of risk. But if we take a broader look at IT innovation and not just focus on what it’s doing for those immediately involved that risk diminishes greatly. Take the Internet of Things (IoT) for example. People all over the world will be able to benefit from some of the advances that IoT will bring to daily life. The same goes for robotics and AI. However, it’s critical to stay mindful of the potential for risk in IT projects where personal well being, environmental issues and cultural beliefs and identities could be in jeopardy.

Developing the best risk vs. reward barometer for your business

IT innovation presents a valuable opportunity for today’s business. That’s why it’s critical to partner with a company that will match your innovative spirit and push you to try new solutions to the challenges your business is facing. When you partner with PowerNET IT Solutions, you’ll align with consultants who understand the inherent power in IT innovation and are creating it every day.

But there shouldn’t be any risk involved just to get started. Take our free IT health check today to find out how to become more innovative without incurring extra risk for your business.

Subscribe to our newsletter for the latest technology tips & tricks.

Recent Articles

Tags

Categories

Search the Powernet blog

We are well awarded

Reach our team

We’re always happy to help you find the right solutions to your IT and technology needs. Here are some ways to contact us.

Give us a call

Chat with our team to discover the best IT solutions for your organisation.
1300 892 692

Our locations

Melbourne CBD

Level 15 / 565 Bourke Street, Melbourne VIC 3000

Eastern Melbourne

Level 2 / 74 Doncaster Road, Balwyn North VIC 3104

Geelong Region

East 4/13-35 Mackey Street, North Geelong VIC 3215

Sydney

U18 / 23-31 Bowden Street,
Alexandria NSW 2015
(02) 8214 8855

Brisbane

7/9 Archimedes Place, Murarrie QLD 4172

Send us an enquiry

cross