EXECUTIVE SUMMARY:
Business and technology are now inseparable. As a CEO, you must keep up with tech in order for your business to retain it’s competitive edge. The continual emergence of new technologies and the need for rapid-fire adoption means that IT pros are frequently leading the digital transformation, with the C-Suite following their lead.
Too often, executives misunderstand how certain technology initiatives add value, and increase the bottom line. Yet, it is this very lack of understanding that often launches companies into the headlines, in the worst of ways.
As a business leader, you know that your attitude and mentalities shape the culture of the company, indirectly influencing productivity and profitability. “For companies to succeed in a digital world, they must have leadership that values digital initiatives as business initiatives,” writes TechRepublic.
Businesses that choose to invest in reputable IT platforms, products, upgrades and more achieve 20% higher margins than more old-fashioned, “analog” competitors.
Take advantage of fast-growing digital trends that can give your business a leg up. Here are four simple strategies to enhance your IT savvy, and that can help your business achieve more.
- Make a point of reading about digital trends, even if it’s only the occasional article. Arming yourself with knowledge will enable you to better predict and react to technological changes.
- Implement structures that facilitate dialogue between executives and IT leaders. Create space for regular communications. Get to know the issues, including the ‘what’ and the ‘how’.
- Personally attend IT department meetings. Familiarize yourself with the views of those on your staff, and listen closely to the trajectory that they envision for your business.
Heighten your digital awareness and technical knowledge to differentiate your company from the competition. Given the overarching implications of IT decisions, no longer is IT only the responsibility of the IT department. It’s your domain too.
For more strategies on how to become a high-performing CEO, visit the Harvard Business Review.