By Prangya Pandab - September 09, 2022 4 Mins Read
All C-level leaders must sharpen their investments to better focus on returns due to the continuous changes in the economy today, and Chief Information Officers (CIOs) therefore will have to support these shifting business conditions.
With IT taking center stage for the vast majority of businesses, CIOs must accordingly improve their leadership style to become a dominant force in the C-suite. The demand for CIOs to be more responsive to business goals is being driven by new technology, sustainability concerns and the hiring of the next generation of IT professionals.
Businesses that don’t quickly implement new IT practises run the risk of falling behind their competitors and losing market share.
It is the duty of CIOs to develop into strong leaders who build trust among their employees by being decisive and clear. CIOs can make informed decisions when they have a clear plan that takes into account the latest technology and market trends.
CIOs are under pressure to provide digital transformation that supports business growth to optimize operations and energize the top line to reduce costs and improve the bottom line. To do this, the CIO must have a thorough understanding of the business and be able to identify choices that could have an impact on these goals.
However, it is often impossible to adopt large-scale digital capabilities and solutions at the same time, particularly when doing so necessitates fundamentally altering how customers and employees interact with people and processes. As a result, it could be necessary to make prioritization decisions that take into account both what is moving forward and, more importantly, what is not.
There will be decisions to be made about people, processes, and technology while carrying out a large initiative, and they must be made promptly. Every organization’s version of this may be different, but it should always involve collaboration in the implementation phases and an open feedback loop to assess if processes and systems are benefiting all stakeholders. CIOs are better positioned to facilitate timely decisions that are beneficial to everyone when they are aligned with the customer and the associated requirement.
As the economy and IT expenditure priorities continue to change over time, CIOs must continue to evolve their leadership style, making agile, innovative leadership a must for success.
In order to stay up with these quick developments, technology is essential. To boost efficiency, CIOs must prioritize plans that ensure continuous team alignment. CIOs should collaborate with business leaders to create a forward-looking roadmap to make sure that technology decisions are not made in a short-sighted manner.
Future-focused often frequently offers insightful information that influences the selection of a technology, platform, or provider for a specific IT purchase. This long-term vision also offers a platform for broader involvement and cross-functional collaboration to improve the IT purchasing decisions that are made.
CIOs should also take a balanced approach to articulating risks arising from cutting IT spending so the executive team members can make informed decisions.
Listening is the most crucial component of communication. A CIO may choose a purchase they believe to be worthwhile, but if they don’t listen to stakeholders about what matters most, it will end up becoming shelfware. Making decisions quickly is only one aspect of being a decisive leader; it also sometimes requires saying no to conflicting objectives or demands.
Being able to gain buy-in from stakeholders and convince them to carry out that decision is necessary to accomplish this effectively. This entails being reasonable in decision-making and workload tempo to prevent burnout, while also challenging others to embrace those decisions quickly once buy-in has been obtained.
During the pandemic, several businesses were forced to undergo significant cultural adjustments, some of which are still in effect today. This entails proactively looking for strategies to keep stakeholders and employees engaged, even if they are remote. Here, more frequent check-ins and one-on-one meetings could really prove beneficial.
In the end, convincing someone to adopt a goal entails demonstrating how doing so will benefit them. Understanding different groups and people might make it easier for CIOs to explain why a particular objective will make their lives better.
Prangya Pandab is an Associate Editor with OnDot Media. She is a seasoned journalist with almost seven years of experience in the business news sector. Before joining ODM, she was a journalist with CNBC-TV18 for four years. She also had a brief stint with an infrastructure finance company working for their communications and branding vertical.
A Peer Knowledge Resource – By the CXO, For the CXO.
Expert inputs on challenges, triumphs and innovative solutions from corporate Movers and Shakers in global Leadership space to add value to business decision making.Media@EnterpriseTalk.com