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......IT systems are often seen as the dial tone of entire enterprises, where processes in place already are merely automated. The truth is that only after processes are streamlined and made more efficient can both annual reports and strategic plans be accurately and reliably created and maintained. What makes the development of IT systems to support both annual reports and strategic plans is the significant cultural change required by organizations to support new processes as well (Mohan, Xu, Ramesh, 2008). When processes and IT systems change within any organization, cultures also change significantly. The essence of how IT systems vary by their support of annual reports versus strategic plans begins at the process-level followed by change management strategies necessary to make each initiative successful (Mohan, Xu, Ramesh, 2008). How annual reports vary from strategic plans in this regard is in the severity and urgency that the formers requirements bring onto companies quickly. Publicly-held companies face this with a very high level of urgency associated with the process-to-IT systems transformation, while privately held companies have greater flexibility depending on their boards of directors and owners. The urgency in strategic planning however is not as acute or concentrated, and instead first focus…

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