This article highlights the value of using leading-edge ICT tools to run a business incubator. It argues that the incubator must 'lead by example' and use ICT skilfully and efficiently if it is to demonstrate the value of ICT to its client businesses and wider community.
Objectives
The use of ICT for managing incubated companies is defined as the deployment of ICT-based management systems in order to upgrade business performance. Its implementation in incubated enterprises will depend on the ICT policy adopted by the incubator for introducing these integrated management systems. These systems allow the incubation process to be carried out more effectively and professionally, while also giving the enterprise a longer life expectancy.
The use of ICT for managing incubated enterprises begins through defining business process flows. Next, the key processes and support processes are established, and decisions are made on which of them can be converted into computerized routines and slotted into an ICT-based system. To do so, new business process architecture may be defined, in compliance with ICT principles, to serve as the starting point for specifying the ICT structure required to underpin the new processes.
The use of ICT for managing enterprises generates many benefits, of which the most important are:
- Lower costs
- Training and capacity-building for human resources
- Keener competitive edge for the products of the enterprise
- More efficient processes with improved performance times
- Better chances of business success and resulting increase in the life expectancy of new enterprises
- Introduction of more modern management techniques
- Slanted towards management by results
Key Issues
- ICT tools for corporate planning and management (See Guideline ICT Tools for Company Management and Planning).
- Characteristics of incubators for supporting ICT-based businesses (See Guideline Incubator Characteristics for Supporting ICT Business).
- Role of the incubator in encouraging ICT-related businesses (See Guideline The Role of the Incubator in Encouraging ICT Business).
Responsible Parties
- Entrepreneur
- Incubator manager
- Management and ICT consulting staff
- Board of Directors
Indicators
- Defined ICT policy
- Management systems developed and made available to the incubated enterprises
- Management practices handbook prepared and distributed to the entrepreneurs
- Results assessment system defined and implemented
Results
- ICT policy for managing incubated enterprises
- ICT-based management practices handbook for incubated enterprises
- Scheme for implementing ICT-based systems in incubated enterprises
- Redefined business process flows
- Assessment system
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