IT strategy is a comprehensive plan that information technology management professionals use to guide their organizations.
An IT strategy should cover all facets of technology management, including cost management, human capital management, hardware and software management, vendor management, risk management and all other considerations in the enterprise IT environment. Executing an IT strategy requires strong IT leadership; the chief information officer (CIO) and chief technology officer (CTO) need to work closely with business, budget and legal departments as well as with other user groups within the organization.
Many organizations choose to formalize their information technology strategy in a written document or balanced scorecard strategy map. The plan and its documentation should be flexible enough to change in response to new organizational circumstances and business priorities, budgetary constraints, available skill sets and core competencies, new technologies and a growing understanding of user needs and business objectives.