According to a new survey by the McKinsey Group, most senior IT executives are successfully aligning IT strategy with business needs, collaborating with the business in ways that add significant value rather than just reacting to the demands of the business. But even with these gains, that IT strategy has not yet reached its full potential. The goal is to better exploit innovation to drive constant improvement in the operations of a business and to provide a significant advantage over competitors with new products and capabilities. According to the survey, less than two-thirds of CIOs say that technological innovation shapes their strategy and only 43 percent say they are either very or extremely effective at identifying areas where IT can add the most value. What's more, only 34 percent say they are more effective at introducing new technologies than their competitors, and 46 percent consider the IT capabilities of their competitors when shaping their own strategies. The study concludes that CIOs must be more attuned to the way technology is being applied throughout their industry and related markets if their companies are to use innovation to create a competitive edge. IT executives should also take advantage of their vendors' investment in innovation.

Read more about CIOs' gains:
- read the article at The McKinsey Quarterly