10 Ways You Can Drive Your Company’s Tech Progress As CEO
The near-deaths of Sears and JCPenney have taught us this: A business must embrace technology or risk losing everything. Tech often progresses so quickly, however, that organizations struggle to keep up. Doing so, a full-time job in itself, starts with a company’s
versatile CEO who can propel their company over a changing digital landscape.
At my company, we’ve prioritized grasping the latest developments and incorporating them into business practices. There’s always more to come, though. Automation and the internet of things (IoT), for example, are still in their infancy.
How can you as a CEO keep your businesson the cutting edge? Here are 10 ideas:
When it comes to obtaining new knowledge as a CEO, Elon Musk had some sound advice: “It is important to view knowledge as sort of a semantic tree — make sure you understand the fundamental principles, i.e., the trunk and big branches, before you get into the leaves/details or there is nothing for them to hang on to.”
Absorbing the high-level concepts of a technological trend can give the CEO just enough power over it. Basic knowledge is often enough to be able to speak accurately about new technology to clients and at sales pitches. When CEOs try to absorb too many of the small details, they can get caught up in less significant parts, ultimately clouding the client’s understanding and holding them back from commitment.
Many CEOs don’t put coding websites at the top of their to-do list. That is, after all, why they hire web developers. However, many CEOs don’t realize that having a basic knowledge of coding can be a significant advantage. It can help with strategic decision making, attract top employee talent and impress potential clients. A few months of rudimentary training goes a long way. There are severalfree resources CEOs can use to absorb the basics.
Maximizing product creation, increasing sales and improving internal operations requires top talent. Employees with technical expertise will propel the company forward more quickly than those without it. If your current employees face a learning curve before they can fully grasp digital best practices, invest in their education and give them resources to get up to speed. If you don’t have access to top technical talent in your area, invest in hardworking, faithful people who will learn quickly.
4. Bring on the right board of advisors.
Advisory boards provide valuable insight into the company. However, sometimes their breadth of experience means they are not up to date with current technology. Often, they don’t want to be, either. To remedy this problem, many CEOs are now taking active steps to make their boards moretechnologically knowledgeable.
Technology can be used to help a company in two major ways: expediting daily operations internally and improving customer relations externally. It can also allow employees towork remotely, a practice that has been shown to improve productivity and retention. If your company claims to be on top of the latest trends, don’t be afraid to use technology to improve your operations from the inside out.
Chief information officers’ technological expertise makes them much more than just an in-house consultant; it can make them an invaluable asset and a mentor to the CEO. The CIO can offer the best ideas on how to streamline processes and implement updates. They can help make improvements to customer experience such as better analytics, mobile-friendly accessibility and more.
As CEOs determine strategies to move the company into the digital future, having trusted confidants in the C-suite can be the key to success. Thechief financial officer, in particular, can help the company invest in the right technologies. In addition to the CFO, other senior management can contribute to company decisions when it comes to digital strategy. Having a trustworthy team will help make difficult decisions easier and build respect within the company.
