Constructing an IS Strategy

The worldwide healthcare corporation Abbott is active in a several number of industries,

including pharmaceuticals, medical equipment, and nutritional goods. The business is dedicated

to enhancing quality of life by offering cutting-edge and efficient goods and services. For Abbot

to succeed in this, business plan must be supported by a well-coordinated information systems

(IS) strategy. The fact that Abbot lacks a clear IS strategy, however, is apparent in many areas of

the business. This research examines how Abbott might develop an IS strategy that is beneficial

to business plan and the advantages that would follow.

There are numerous processes involved in developing an IS strategy that supports

business strategy. Understanding the company's goals and business plan is the first step.

Offering new, useful goods and services that enhance quality of life is central to Abbott's

business approach. By focused on operational excellence, portfolio management, and research

and development, the organisation hopes to accomplish this. In the second step, the

organization's IS environment is evaluated for existing condition, the gaps between it and the

desired state are found, and a plan is created to close those gaps.

To establish an IS strategy, Abbott can employ a variety of methods. The balanced

scorecard is one such strategy. A strategic management tool known as the balanced scorecard

measures both financial and non-financial variables to give an overall picture of how well the

organisation is performing. By developing key performance indicators (KPIs) that gauge how well

IS initiatives are working, Abbott may utilise the balanced scorecard to align IS strategy with
business plan. To gauge the success of IS projects, Abbot, for instance, can use KPIs like research

and development productivity, product development cycle time, and customer satisfaction.

The value chain analysis is just another tool that Abbott can utilise to create IS strategy.

The value chain analysis is a tool used to pinpoint the core and auxiliary tasks that add value to

the organisation. The activities that need IS support and possible opportunities for development

can be found by Abbott using the value chain analysis. For instance, Abbott can utilise IS to

optimise production procedures, streamline supply chain operations, and improve customer

service.

Abbott can create IS strategy using the SWOT analysis. To achieve a competitive edge,

Abbott can use the SWOT analysis to pinpoint IS strengths and play to them. A tool for

evaluating an organization's opportunities, threats, weaknesses, and strengths is the SWOT

analysis. The SWOT analysis is a tool that the business may use to determine the areas of IS

environment that need improvement and create mitigation plans for those areas. As an

illustration, Abbot can utilise the SWOT analysis to pinpoint the chances to integrate cutting-

edge technology like artificial intelligence (AI) and the Internet of Things (IoT) to improve goods

and services.

The advantages of a Coherent IS Strategy

Organisations can get a several number of advantages from creating an integrated

information system plan that supports overall business strategy. In the beginning, it gives

organisations the ability to match IS initiatives with the corporate objectives, ensuring that the

initiatives are significant and useful. By prioritising IS initiatives based on business impact,
organisations may ensure that they are concentrating efforts on those that will have the

greatest impact. Second, by ensuring that the investments are in line with the company's

business strategy, a cohesive IS strategy enables businesses to maximise IS expenditures. By

maximising the returns on IS investments, this optimisation aids businesses in lowering IS costs.

Third, an organisation can use evolving technologies to benefit with the help of a well-

thought-out IS plan. New potential to increase customer experience, process optimisation, and

product and service improvement are provided by emerging technologies like AI, IoT, and

blockchain. These technologies can be used by businesses to obtain a competitive edge in the

marketplace if they have an IS strategy that makes sense. Fourth, an effective IS strategy allows

organisations to improve data management capabilities, enabling them to make data more

useful.

Analysing The Strategic Potential

The world continues to embrace technology, and despite Abbott's long history of

invention, the company needs to increase investment in information systems and technology to

stay competitive. From a divisional and corporate viewpoint, this research examines the

strategic possibilities for further investment in information systems and technology at Abbot.

Furthermore, it investigates whether business process re-engineering might be a helpful tool for

maximising the potential of IS and IT within the organisation.

Strategic Potential for Greater Investment in IT and IS at Abbot

It has made significant investments in these fields because Abbott understands the value

of information systems and technology to business. For the company to increase IS and IT
spending and continue to compete in the frantic pharmaceutical sector, there is still a lot of

room for growth. From a divisional standpoint, Abbot might spend money on IT and IS for

production and research and development (R&D) departments. The business might spend

money on R&D systems and tools like artificial intelligence and machine learning that improve

the process of finding new drugs. These methods might speed up the process of bringing new

pharmaceuticals to market and aid in the prediction of new drugs' effectiveness. To speed up

the process of sharing knowledge and making decisions, the corporation might also invest in

technology that allow real-time cooperation and communication among researchers.

To boost productivity and efficiency in the manufacturing section, Abbot could spend

money on automation technologies. This would result in higher-quality products and cut down

on errors, as well as shorten the time it takes to develop pharmaceuticals. Additionally, the

business might spend money on tools that allow for real-time monitoring of the manufacturing

process, enabling prompt detection and correction of any potential problems.

Abbot may make investments across the board in technologies and processes that

improve customer engagement and experience. The business may, for instance, create mobile

applications that let users engage with it and buy things from anywhere in the world. Customer

satisfaction would rise as a result, and sales would rise. The business might also spend money

on tools that improve supply chain management, such blockchain technology, which would

make transactions more transparent and lower the chance of fraud.

Benefits of Greater Investment in IT and IS at Abbot

Increasing Abbot's investment in IS and IT has a several number of advantages. First off,

speeding up the process of bringing new medicines to market would need investment in

systems and technology that improve the drug development process. Profitability would rise

and revenue growth would accelerate as a result. Second, investing in automation technology

would lower the possibility of mistakes and raise the calibre of output, boosting client pleasure

and loyalty. Thirdly, spending money on systems that improve consumer engagement and

experience would boost revenue growth and sales. Lastly, spending money on solutions that

improve supply chain management will boost openness and lower the possibility of fraud,

leading to increased operational effectiveness and lower costs.

Business Process Re-engineering as a Tool for Maximising the Potential of IS and IT

within Abbot

Abbot could employ business process re-engineering (BPR) to harness the power of IS

and IT within the organisation. To achieve significant increases in performance, quality, and

productivity, BPR entails the radical rethinking of business processes. With the help of BPR,

Abbott could reengineer business processes and maximise the benefits of IS and IT investments.

BPR could be used to speed up the drug development process and shorten the time it

takes to introduce new medications to the market. By re-engineering, the R&D process to

incorporate the use of machine learning and artificial intelligence to forecast the efficacy of new

medications, this might be accomplished. BPR could also be used to restructure the production

process, utilising automation technology to enhance.