Technologies that provide cost efficiencies often can be decided upon by a department head. But when such decisions involve the strategic direction of the company, such as with cloud computing, mobile, data management and collaboration, increasingly, decisions come straight from the CEO. In fact, executive recruitment firm Russell Reynolds has created a core competency around finding CEOs who are tech savvy, and even designated 2013 as the year of the digital leader.
According to Gartner, CEOs today are interested in technology as a “factor of business.” This is a trend Gartner fellow Mark Raskino told Computer Weekly they haven’t seen since 2001. His comment is based on the results of a recent Gartner survey, in which the research firm asked CEOs to list their top five priorities for 2014-15. Technology came in fourth, behind growth, cost and profit.
In fact, chief information officers, more often than not, are reporting directly to the CEO today rather than an EVP or SVP, and are active members of CEOs’ leadership teams. Not surprisingly, CEOs responding to the Gartner survey felt that CIOs were directly responsible for innovation and change in their firms, Gartner told The Wall Street Journal.
Meanwhile, at a Forrester conference in London last year, a company analyst asked a group of executives what they thought the top 10 things were that a CEO should do to ensure that his or her company successfully shifts to digital technology. Their answers included defining ownership and creating a business case. They even suggested having a techie on the board of directors and visiting Silicon Valley once a year to talk with disrupters.
It’s easy to see why many CEOs have the last word in determining which technology is a priority for their firm. From defense contractors such as Northrop Grumman to quick-serve restaurants such as Domino’s Pizza, making the right technology decision can mean the difference between leapfrogging the competition or falling behind them.
In the years ahead, there is no doubt that all CEOs will having an increasingly stronger technology background.
Additional reading:
Technology Investment Returns to the CEO Agenda
10 Things The CEO Can Do To Drive Digital
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
