Change comes fast. How can organizations keep pace? Industry analyst Brian Vellmure explores the changing role of today's CIO.
Gain more information about ‘Redefining the CIO’ from e-books to on demand webcasts here: http://jive.to/1DoOHmL
2. 57% of US CEOs
(47% globally) are
concerned about the speed
of technological change
Source: http://www.pwc.com/gx/en/ceo-survey/
3. 59% of CEOs are
concerned
about new
market entrants
disrupting their
business model
Source: http://www.kpmg.com/US/en/topics/Pages/ceo-study.aspx
4. 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
7. But, today only 17%
of CIOs have a seat at
the strategic table
Source: http://www.ey.com/Publication/vwLUAssets/DNA_of_the_CIO/$FILE/DNA_of_the_CIO.pdf
11. Align towards the future
Most 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.
12. Think Networks and Platforms
We’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.
13. Forge Deeper Alliances
with LOB Peers
Trust 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.
14. Educate and Evangelize
One 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.
15. SparkCreativityandImagination
The 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.
16. Envision and Enable
CIOs 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.
17. Craft New Value Propositions
Capturing 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.
18. 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