The 2004 CIO Insight Annual Partners in Alignment AwardBy CIOinsight | Posted 01-21-2005
CIO Insight has created the Partners in Alignment Award to recognize companies that best exemplify how IT and business can align behind the common goal of delivering value to the company's shareholders. Since all alignment strategies require a sustainable partnership between IT and the business units, and a clear business strategy that is communicated throughout the organization, we have created this award to recognize the collaboration and communication that is required for a successful business-IT partnership. This award is given annually to the company that best meets our selection criteria.
In 2002 there was a tie, and we awarded the prize to both UPS and Capital One. In 2003 the winner was Harrah's Entertainment. The 2004 award was presented at a special Awards Dinner at the Rainbow Room in New York on November 9, 2004 to Guardian Life Insurance Co. of America. Special plaques were also given to Countrywide Financial Corporate and PFPC Worldwide Inc. for their outstanding alignment achievements.
To be selected, an organization must be headquartered in North America and be a public company. All entrants must meet—and be able to demonstrate—the following 6 criteria:
To help the judges better understand how alignment between IT and the business helps your company carry out its business strategy and achieve strong business results, we require the submission of the following information—each in two formats, electronic and paper:
- 1. STRATEGY – What is your organization's business strategy and IT strategy? Include information on the current business goals of the company and how they are clearly articulated throughout the organization, as well as details on the accompanying IT strategies that support them. Supporting documentation should demonstrate how business and IT strategy is communicated throughout the organization;
2. PROCESS – What are the processes specific to your organization that foster alignment? Processes should be self-reinforcing and inculcated through day-to-day activities of the business and IT units;
3. GOVERNANCE – What governance structures exist in your organization to support alignment? Examples can include organization structure, reporting relationships, formal IT strategy planning, formal business strategy planning, the role of IT in helping determine business strategy, how IT spending decisions are made and financed, how IT budgets are created;
4. TECHNOLOGY – What technology investments have helped the company execute or accelerate its business strategy? Such investments should demonstrate that IT is an enabler or driver of business strategy and show how these investments are used, measured and monitored;
5. FINANCIALS – What are the measurable financial results that enable the organization to meet our criteria? (For example, revenue, profit or market share growth, cost savings, customer retention, customer satisfaction and productivity). Where possible, these results should be related to the performance of key competitors or industry benchmarks; and
6. CORPORATE CULTURE – What are the human resources and management practices that encourage a culture of collaboration and foster business-IT alignment? Be sure to include information on hiring processes, compensation and ways the organization rewards alignment.
The judges for this year's Partners in Alignment Award were selected by CIO Insight's executive editorial staff based on the judges' experience in helping companies excel at creating alignment between IT and business. The decisions of the judges are final. The judges for 2004 are:
THE 2005 PARTNERS IN ALIGNMENT AWARD
Details on the 2005 Partners in Alignment Award will be posted early in 2005. If you have any questions regarding the award, please contact Editorial Assistant Sheena Mohan at email@example.com or 212 503 5632.