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Transformative Leadership for the Rapidly Changing Markets
The major difference between today’s CIOs and the previous generation of Technology Leaders that the idea of transformative change. 25-30 years ago, nobody thought that IT would lead various transformative efforts, affecting every aspect of a global enterprise.
Indeed, the significant difference now is that in addition to ensuring that IT runs smoothly, CIOs are expected to provide the enterprise’s strategic leadership and high-level guidance.
Welcome to the “New Normal”
Compared to the new normal after COVID-19, the IT Landscape will never be the way it was back in the good old days when vendors sold their wares by the pound, and nobody understood or cared about – the value of Information & Digital Technology.
Now everywhere globally, the economy evolves and transforms. IT Leaders face dilemmas of truly mythic proportions. Despite understandable feelings of helplessness, they must still choose their destiny. Whether they emerge as heroes or scapegoats is up to them.
Many IT Leaders will find themselves trapped in a labyrinth from which there appears no hope of escape. On one hand, they must focus on cost reduction initiatives, and they must produce tangible results for the business.
Whatever CIOs strive for cost reductions, their decisions are driven more by panic than logic. These decisions will not make IT deliver the results that are required to sustain the business in times of great stress.
Seize the movement and act like a here instead of hunkering down and waiting timidly for fate.
Below are pieces of advice to be considered.
- Consider cutting down the expenses but keep setting aside adequate funds for the development and revamping of the system and infrastructure. You need to think about funds as seed money to grow the business.
- Whatever you are doing, but make sure that you keep enough money in the budget to retain your top-performing talent, they will only get you through the challenging times.
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For the heroic souls CIO – Learned and offer the following suggestions
- You must build a High Performing and Motivated Team that focuses on Business Partnering and Relationship
- Establish the IT goals proactively instead of waiting for someone to tell you
- Design the IT Strategy and present it to your board
- Hold all your vendors and partners accountable for the outcomes
- Before negotiating with anyone, do your homework
- Don’t just sign the contracts, you must manage them
- Work with the business in partnership to drive the results not just deploy the Technology
- Manage and Market the IT Brand and show the real value to the Business of what you achieved and generate the outcomes
- Build and manage the relationship up, down, and sideways across the enterprise level and beyond the traditional boundaries.
- Act like a CEO of the Technology organization