Critical Actions for Next Generation CIOs

57% of US CEOs (47% globally) are concerned about the speed of technological changeSource: http://www.pwc.com/gx/en/ceo-survey/

59% of CEOs are concerned about new market entrants disrupting their business modelSource: http://www.kpmg.com/US/en/topics/Pages/ceo-study.aspx

of Global CEOs view technological advances as the top global trend that will transform their business the most over the next 5 years.

81%

Source: PwC 17th Annual Global CEO Survey

Technology is causing disruption in every industry, in every geography

Every company must incorporate emerging technology or be left behind

But, today only 17% of CIOs have a seat at the strategic tableSource: http://www.ey.com/Publication/vwLUAssets/DNA_of_the_CIO/$FILE/DNA_of_the_CIO.pdf

CIOs could (and should) help lead their organizations into a complex and unpredictable future

However, they are often challenged politically and strategically, and lack financial acumen to drive real change

These seven new priorities will help CIOs drive meaningful change in their organizations

Align towards the futureMost CIOs have traditionally been tasked with solving today’s (or yesterday’s) challenges. Investing more time in understanding what’s next, and more importantly, translating these coming changes into possible opportunities will help position the CIO as a visionary and meaningful contributor to the future of the organization.

Think Networks and PlatformsWe’re smack dab in the middle of a several-decade transition from the industrial to the networked age. Interconnected meshes that move faster and more effectively are overwhelming traditional hierarchies.

Instead of leveraging narrowly defined point solutions, the Internet’s next wave involves:

• Harnessing knowledge flows across networks.

• Leveraging the power of digital networks to accelerate discovery, connection, learning, and communication.

• Using collaboration to predict and respond to changing market demands.

• Developing infrastructures and platforms that allow rapid technology adoption for defined needs and use cases.

And, in turn, adaptation for new and evolving use cases will be a critical differentiator moving forward. It’s important to note that this is no longer just a technology discussion, and the lens must zoom out to consider changes to the entire business model.

Forge Deeper Alliances with LOB PeersTrust and relationships have always been proxies for influence. Earning attention is largely based on developing authentic relationships and contributing value. While forming relationships with any Line of Business (LOB) has always been important, it may be time to reassess these relationships and invest the time and efforts to create deeper partnerships.

Your best bet is to always strive to understand what truly motivates and drives your LOB partners’ decisions, behaviors and successes. Then evaluate ways to help to amplify their efforts.

Educate and EvangelizeOne of the biggest challenges of adopting emerging technology is developing a deeper understanding of what it is, and the implications it can and will have on existing models and processes.

The bedrock of change is a common understanding of the issues at hand, and a clear vision of what needs to be done. Evolving the company leadership’s views and perspectives of what’s happening, what’s possible, and what’s next will take time and persistence.

This places increased demand on visioning and effective communication. Most CIOs will need to step up their investment in communicating their ideas in a way that resonates.

Spark Creativity and ImaginationThe future of your organization depends on new solutions. Critical thinking and creativity have never been more important. As the world becomes more connected, it creates more possibilities and complexities for value exchange.

Innovation will rely on constantly reframing the landscape and creating new value propositions. While the best practices help aid the lagging areas within your organization, tomorrow’s leaders will re-imagine and re-invent the status quo, and cultivate a culture that ideates and invents. Passion projects, hackathons, and labs may help spur new and interesting ideas that lead to commercially viable innovations.

Envision and EnableCIOs have long been the information technology enablers of their organizations. This requirement isn’t going away anytime soon. Augmenting enablement capabilities with insightful contributions around leveraging technology to gain market share, developing deeper customer intimacy, and/or improving critical financial metrics will help increase the CIO’s value to the organization. In other words, humbly beat your peers to where they’re wanting to go, and then help show them the way.

Craft New Value PropositionsCapturing the opportunity of the future will require rapid, strategically focused change. And selling that change centers around having a compelling vision, justifiable business cases and value propositions.

Projects that can reasonably expect to provide a meaningful impact to the organizations have a much higher chance of being “green lighted”. Improving financial acumen reduces another barrier to making a strategic impact on the organization.

Convincing the CFO often requires speaking the same language—an area of growth for most CIOs. Driving change will partially rely on being able to sell to your primary investors (CFO, CEO, COO, and Board). Get the pitch down. Practice and refine.

Don’t miss the rest of the content in our Executive Leadership Series, including an e-book by Brian Vellmure that examines these topics in greater depth: Click here to explore

Thank you. Jive and Brian Vellmure

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