target audience: TECH BUYER Publication date: Sep 2022 - Document type: Tech Buyer Presentation - Doc Document number: # US49689022
Building Leverage in Board-Level Digital Strategy Conversations
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Abstract
This IDC Tech Buyer Presentation discusses the influence of the pace of digital change on the need for digital leadership to pivot to drive insight on a much broader horizon of opportunity and risk. Historically, the CIO has engaged with the board of directors to discuss investment projects and cyber-risk strategies, but as the pace of digital change increases, the digital leadership role needs to pivot to drive insight on a much broader horizon of opportunity and risk. Board-level discussions of strategy are often relatively linear — built on business sector leaders' views of the next opportunity for value. Those opportunity discussions can be limited to the exposure that the sector leaders and management have and may not account for the data and technology advances that are real or near real in a broadly based ecosystem view.
The CIO has a new opportunity to bring strategic insight to the annual strategic cycle by filling the blind spots that exist for both management and the board. A focus on trends and long-term scenarios can disrupt pattern-based thinking that may be an inhibitor. Disciplined measurement and focus on value-based outcomes can improve prioritization and align investments with achievable plans. Analysis of external board statements of strategy and planning themes highlights where groupthink may be creating bias in the boardroom; so new insight can be provided to bring down the blinders.
The CIO is uniquely positioned to look at competition and adjacencies toward identifying bold digital strategies that amplify core value. CIOs are also the thought leaders for current and immediate next consumption of digital tools and talent and are able to demonstrate value-based leadership by cutting commitments that are not bringing value. As the future of business moves firmly into integrated platforms, the CIO is positioned to see the ecosystem and architecture plays that will deliver a differentiated digital business strategy.
"The digital leader of the future will be a translator, enabling clear and understood conversations between management and the board," says Alizabeth Calder, adjunct research advisor with IDC's IT Executive Programs (IEP). "And they will be a conversation catalyst, pressing beyond biases to foster new ideas and shine light on what's next and new on the horizon or just around the corner. Where the board owes stakeholders the strategic governance to drive value for the future, the CIO owes the board new strategic insight to innovate and develop trust by leveraging digital trends."
The CIO should lead the entire IT team to actively ideate on digital investments that would bring differentiated returns. Strive to identify one or two actionable opportunities that give cause to pause; a relatively small but brave new idea can take the board's thinking to places that are beyond what management might provide. Bring strategic experts to the table if need be. Critical new capabilities for the CIO are the ability to personally show digital thought leadership and to differentiate the value that the IT organization can bring to board-level strategy conversations.