IT as a source of competitive advantage?

The most recent McKinsey Quarterly article on IT Strategy (The next frontier in IT strategy) reports the results of a survey of 72 senior IT Executives in North America: "IT executives say that they are now helping to shape business strategy but need to improve their ability to tap innovation."

The authors propose that the focus of a company's IT strategy should not only span several years, but should be a proactive part of the formulation of business strategy - evolving from a simple support of business needs by taking into consideration technology trends and the competitive landscape.

I guess I wasn't all too surprised to see that the survey respondents gave their IT strategy lowest points in harnessing emerging technology and taking into account competitors' IT capabilities. They didn't rate themselves very highly in introducing new technology, as compared to the competition, either.

How do you feel about the role IT plays in your organization?