Should CEOs Take Charge of Their Company's Tech Agenda?
Technology is no longer merely a tool for business owners and CEOs to use as they please. In many ways, technology has now come to define the practice of doing business itself, and in turn, fundamentally changing how companies operate and interact with their customers.
Companies from a broad array of industries need to transform their business processes to embrace available technology and carve a place for themselves in the digital world. Those that fail to do so are destined to lose customers and, ultimately, fade into obscurity.
But even if a CEO understands the importance of their company’s technology agenda, to what extent should they be involved in the digital transformation? Should they take charge and lead the movement, or should they take a step back and focus their attention elsewhere? Today, I’m going to answer these questions and show you why CEOs should be key figures in business innovation and technology in their organizations.
Create a tech vision that employees can believe in
Digital transformation is only effective when people across the firm are committed to implementing new tools and collaborating on solutions to drive results. It is the CEO’s responsibility to create and communicate this vision to the rest of the company, in a way that rallies everyone behind a common goal of business innovation.
All employees should have a clear understanding of the company’s tech agenda, how it relates to them, and how it can drive their personal and professional success. This is especially true for high-level executives and fellow board members, as any digital transformation is doomed if it is not believed in and enacted from the top down. Therefore, be crystal clear about the strategic benefits of your tech agenda and how it directly relates to business growth and long-term profitability.
This kind of change has already started to make an impact on the international stage, as shown in Chief Executive’s recent marketing technology survey: 59% of the 500 surveyed companies reported that company leaders are actively involved in technology. This number is around 10% higher than two years before.
Lead by example and be a positive role model
With the previous point in mind, the CEO is also in the perfect position to be a positive role model for the rest of the company by effecting digital change on a personal level. Stay up to date on disruptive technologies that show potential in your industry, and visibly make use of any new tools being rolled out in your organization. It’s also important to highlight any technological victories and success stories for the rest of the company. If a new tool or process has increased lead generation by 15%, tell your employees about it and give credit where credit is due.
While CEOs don’t have to become experts on niche technological products, they should have a broad understanding of how specific technological advances can impact their business and their overall industry. Armed with this knowledge, CEOs can drive positive change in their organization and leverage technology to achieve key business objectives.
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