The CEO’s new technology agenda
We’ve seen numerous companies boost their financial performance after their CEOs made it a priority to strengthen the technology function and bring more technology capabilities closer to the business’s strategy and operations. Fulfilling this mandate, however, can be a challenge. Most CEOs already have a long slate of priorities, and relatively few feel comfortable enough with technology to push for transformative changes in that functional area. Even CEOs who are attuned to the threat of digital disruption and are thinking about how their companies can create value with digital tend to discount the IT function’s importance.
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Nevertheless, it’s clear from our experience that CEOs can exert a uniquely constructive—and valuable—influence on the IT function. CEOs can do more than other executives to transform the IT function’s role, resource model, and core systems, and to bring about the cultural and organizational changes that such transformations involve. In the following section of this article, we lay out the ten questions that CEOs should ask their chief information officers (CIOs) and management teams to determine how capable their IT function is and how closely it is aligned with the business. We then lay out one CEO’s successful approach to modernizing his company’s IT function. Together, these insights offer CEOs a guide to shaping a technology function that’s fit for the digital age.
The modern IT function: Concepts to know, questions to ask
Based on our extensive work with CEOs and top executives at large companies, three concepts define today’s most effective IT functions: a new role that calls for collaboration with the business on strategy and operations; an updated resource model offering the talent, methods, and tools to accelerate innovation; and a future-proof technology foundation of flexible, scalable systems that speed releases of IT products. To help CEOs assess where their companies stand with respect to these three concepts, we’ve included ten key questions that CEOs can ask (exhibit).
Article has been taken from McKinsey, please see the original article below: