May 2023

Strategy Mandate and Success

We’ve been talking about technology strategy. Every tech exec running an IT shop needs to have one. And every technology exec needs to understand what it takes to build and manage one. In this post we’ll cover steps three and four of our strategy build process.

3. Develop IT Mandate: Vision, Mission, and Objectives

We have established our IT vision, mission, and objectives. Now, let’s align and enhance our vision with the business and other IT leaders’ strategies, if applicable. In this step, we will review the strategies of the organizations we support and align our direction accordingly. This enables us to refine our high-level technology goals and objectives. Our aim is to solidify the IT mandate, reflecting our purpose and governing our activities. Involving key leaders in this vision review is crucial for gaining consensus. Agreement at each step is vital for a successful tech strategy.

4. Define Critical Success Factors (rules of engagement)

How do we measure the success of our technology strategy? We define critical success factors that translate into high-level requirements for top management, such as budget. Specific details of success factors will be determined in subsequent steps like governance and implementation roadmap. This step establishes the initial baseline for successful planning. Typically, three to five CSFs are defined to set the stage.

To emphasize, again, if you don’t have a plan (or strategy) you are going to have a very difficult time managing business expectations. The Technology Strategy is a key document for any technology executive and should be the cornerstone for how you manage your organization.

Fear Not AI

We talked about AI in a prior post. Tech execs need to be aware of the changing scene in tech and be ready to harness new technology to advance their technology strategy.

Be on the forefront of change because your competitors certainly will be.
Tech2Exec

To embrace new technological advancements, understanding their strengths and weaknesses is vital. This comprehension enables businesses to effectively leverage their potential. The next step is to develop a comprehensive plan to drive business improvement using the technology. Garnering support from executive stakeholders is crucial in this process.

Today, many business executives actively explore using AI to tackle their challenges. However, some remain cautious, concerned about potential misuse of this innovative technology.

Similar to Cloud (a broad platform), AI can raise concerns for business end-users regarding data security and control. Technology execs must proactively address these concerns with strategic marketing efforts to gain the trust of business executives.

One concern with new technology is lack of understanding. However, it’s crucial to map and address true risks with a risk remediation plan. Outlining pros and cons with a well-thought-out plan can help gain acceptance for leveraging the technology.

AI isn’t new, but it’s rapidly evolving thanks to advancements in data analytics, modeling, and computing power. This natural progression aligns with most tech execs’ strategies. While valid concerns exist about AI abuse, comprehending the possibilities—both positive and negative—will aid tech execs in incorporating AI into their risk and control frameworks.

Consider the involvement of your Chief Risk Officer when incorporating AI technology into your company’s stack. Involve the Cyber team to vet your proposals and ensure a well-rounded strategy. Get the right people involved to make incorporating AI into your model easier.

Bottom line don’t fear new technology advances. People may misuse it, just like anything in your tech stack. Ensure understanding of risks and have a plan to fix issues.

Business Alignment

We’ve talked about IT Strategy in prior posts. The second step in our process: aligning with business leaders. Technology executives must ensure that their strategy aligns with the direction of the business. IT exists to support business success by establishing effective systems that address its needs.

2. Capture the Business Context: vision, mission, values, and strategic goals.

A key success factor for the technology strategy build process is mirroring and aligning with the business. In this step, we must capture a clear understanding of the business environment. This can be achieved by reviewing the business strategy, which should the following elements:

Vision of the organization.
Mission and purpose.
Values that govern the activities of Business.
Strategic Goals: arranged in focus areas or themes.
Strategic Initiatives: detailed programs and projects that are planned in priority order to achieve its vision, mission, and goals.

These components of the Business’s plan will aid in the creation of an IT counterpart to the vision and mission. They will also provide insight into the impact of the business strategy on the IT organization through analysis of strategic goals and initiatives.

If these elements of the businesses’ plan are missing, it’s a great chance for you to connect with key leaders. Discuss your perspective on business and IT collaboration to strengthen relationships.

What’s an Ambivert

A person whose personality has a balance of extrovert and introvert features.
The dictionary

Understanding the distinction between extroverts, who exude an outgoing demeanor, and introverts, who lean toward a more reserved nature, is crucial. In the realm of tech leadership, a harmonious blend of both personalities becomes indispensable. However, one may ponder: what defines the optimal persona for a tech exec?

I find the concept of Ambivert intriguing because I am skeptical about its inherent existence as a personality trait. In simpler terms, I perceive it as a conscious choice that individuals make based on the specific situations they encounter.

During the early stages of my career, I exhibited a confident and talkative demeanor in meetings. Unfortunately, this approach garnered disapproval from my superiors and disdain from my peers, who perceived it as overbearing. To tackle this issue, I sought leadership coaching to refine my communication style, achieving a better equilibrium between expressing my ideas assertively and actively listening to others. Over time, I have evolved into an ambivert, adept at adapting to various social dynamics.

An ambivert is someone who has mastered the art of balance—knowing precisely when to unleash their assertive side and when to embrace a more observant role. It’s a truly remarkable skill. Extroverts find it challenging to simply sit back and listen, while introverts may struggle to take charge and make decisions.

As a tech exec, mastering the art of balancing between empowering others to shine and leading the way when needed is a key factor for success. The ability to recognize when to step back and let others take charge, as well as to assertively take control when everyone else is being passive, will greatly contribute to your achievements in this role.