C-Suite Blind Spot – Hybrid Evolution – The C-Suite’s Need to embrace IT & the Transformational CIO

Blind Spot

Natural organizational evolution, unprecedented tech needs created by a pandemic and the progression of the 4th industrial revolution would appear to substantiate the need for the C-Suite to embrace senior technology executives in corporate strategy development.

Data and analytics, cyber security, remote and hybrid workforces, artificial intelligence, robotics, cloud technology, evolving customer interfaces and experience, down to basic employee connectivity. Can corporations’ planning survive and thrive without transformational CIOs? Should the C-Suite be solely tasked with the expertise needed to effectively consider the impact of all? Can the C-Suite single handedly cope with the feverish pace at which technology is changing? Do short and long-term transformational strategy development require that experts in technology be invited to the boardroom?

Illumination

Technology is quickly evolving and in many cases driving business operations, revenue generation and ensuring security. All of which have a major impact on future success of every corporation. High performing organizations are embracing technology and digital innovation and using it as a competitive advantage. As such, CIOs are evolving into the uncharted position of need and undisputed relevance.

In fact, according to Deloitte’s 2020 Global Technology Leadership Study, corporate directors of high-performing organizations have a strong and positive relationship with their CIOs.

As McKinsey & Company describes them, the much needed sought after transformational CIOs have the following five traits.

1. Business Strategy: Developed business acumen - understanding the business inside and out

2. Change Agent: Reimagining the role of technology, reinventing technology delivery and future-proofing the foundation

3. Talent Scout: Recruit and retain top new people (external and internal)

4. Culture Revolutionary: Develop a culture that support your new talent

5. Tech Translator: The best CIO’s have the ability to educate leaders about technology and their applications for the business

High performance CEOs and corporate boards have an opportunity to utilize technology as a foundational part of corporate strategic moving forward. This can be accomplished if efforts are made to identify, engage, and retain the right tech champion for their team. This will present the opportunity for CEOs to gain much needed support and CIOs to be elevated to more strategic positions. CIOs that are chosen to engage in the process and be in the board room are the new breed of “transformational CIOs”.

Most of my accomplishments have been win or lose situations. For me, second place was not an option. My key to success was to assemble a diverse team of specialized individuals who were experts in their fields. Together, we were able to develop strategies that helped me to identity, address and eliminate my “blind spots”. Executives may want to approach their blind spots similarly. When winning or losing are the only two choices, build a team and choose to win.