Tips for CEOs – An approach for digital and IT strategy suitable for the organization’s growth
Every organization needs digital information and technology to run day-to-day operations and grow and differentiate the business. Technology leaders are under immense pressure to develop digital-enabled business capabilities that generate revenue, improve profit margins, or advance the mission and constituent satisfaction.
Gartner states, “By 2023, organizations with diverse IT-business collaborations will deliver business outcomes 25% faster than their competitors.”
Technology Leaders need to work closely with business leaders to:
Diagnose Priorities and Actions
Solidify a Strategic Plan
Discover Opportunities that will Drive Digital Era Hypergrowth Quickly and Effectively.
To accomplish the tasks listed above, organizations need a technology team that can achieve the following.
Understand what business units are trying to accomplish.
Create a digital and IT strategy that supports corporate and business unit strategies.
The strategy should include a prioritized sequence of initiatives leveraging digital and IT skills, competencies, capabilities, and infrastructure with overall governance and management processes.
The technology team must overcome the challenge of collaboration with all parts of the organization to implement the strategy. This requires a change management process in place.
Clearly understand budget constraints and determine skills, competency, and capabilities gaps. Pick up initiatives to support the strategy with the best ROI.
Set up a governance structure and organization design and establish a robust Service-level-agreement (SLA) system to manage an ecosystem of suppliers for various parts of the technology stack.
As a seasoned CTO, I have assisted dozens of organizations in their digital transformation journey, including prominent organizations in associations, nonprofits, education, manufacturing, logistics, and supply chains. For more information and guidance, you can find me at rizwan.khan@mac.com.