To improve technology outcomes, Information Technology departments must work strategically with each business unit to understand their objectives and the operational plan to achieve their goals. To help organizations adapt and thrive in the world of constant change, CIOs' business strategy must also shift from the singular role of service provider into an expanded role of strategic business partner to the C-suite. Below are the five steps to take on your CIO business strategy journey. To align with the push to maximize revenue, it is crucial that CIOs develop a robust strategic plan with an external focus, driving the business with result-producing changes wherever possible. To add customer value, the CIO business strategy must include engaging with others often internally. Operating with a proactive mindset requires a holistic understanding of the organization’s business processes and insight into how processes impact customer pain points. The CIO’s team has a unique 360-degree perspective of technology and how it fits into the broader technology ecosystem. The end user should know what to anticipate as their proficiency grows – whether that is increased speed, improved reporting, or better customer service. In addition to maximizing the potential for the user, the technology, and the organization, the CIO’s strategic investment in training with a business focus can uncover and mitigate security concerns. Users are the greatest security threat within an organization and are often unaware of the risk they create. Security is a priority for every C-suite member, so avoiding risks and providing peace of mind is one of the surest ways a CIO can become a better strategic business partner.
It is not enough for only the CIO to understand the strategic business side of the organization. To align with all business units successfully, all IT employees must possess a thorough understanding of business concepts, vocabulary, and tactics. CIOs can enable their teams by implementing periodic training on the business basics. IT employees should come to understand the business model, value propositions, and sales cycles. Development should include reviewing business plans, relevant annual reports, operations schedules, and marketing strategies. Investing in broader business-related training requires a considerable commitment.
In a business environment that is rapidly changing, opportunities must be acted on immediately to capture a competitive advantage. CIOs need to embrace a mentality that not only accepts, but also keeps pace with change. Hitting a moving target can be challenging but tolerating all the reasons a project cannot be done is not an acceptable role of an effective strategic business plan. Behind any agile CIO is an agile IT infrastructure and platform. CIOs should be able to strategically describe what this agile IT environment will look like. CIOs should consider building agile IT talent pools, to match an agile infrastructure and platform. CIOs should instead close the IT talent gap by hiring individuals whose skills and strengths can meet the current and future IT needs.
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