The need for a firm and then individual functions within the firm to set a strategic direction is paramount. Without a strategy – an IT strategy say – a department will struggle to understand and manage its priorities and constraints and it will also find it more difficult to gain business support for its changes.

A strategic plan sets the required expectations and establishes the credibility of the department. Importantly this is not just the external expectation and credibility of the stakeholders but also those of the internal team who should be looking towards a strategy to focus their efforts.