Digital is an integral part of strategy. Digital is a new way of doing things. You do not need to craft a digital strategy, you need to integrate digital into all aspects of your business. Beginning with processes, channels and data, ranging from incentives to culture.
Everything is affected and transformed. CDO should work closely with CEO, CIO, CFO and leaders of business units. He must be a shaper of strategy. He must fully integrate digital initiatives into the process of strategic planning, claims the mckinsey.com website.
What others are expecting?
Chief Digitals Officers will be taken seriously only when they are able to provide others with detailed analysis of market trends, recent technological developments and insights on customer behaviour. When they can do that, they will be invited to the table where strategy is being shaped. They will be perceived as credible partners and experts who are able to bring valuable knowledge and information.
CDOs must not stop there. They must bring a bold vision. Bold initiatives are the norm among digitally strong companies, whereas companies that are only average performers rather avoid the risk of digital connections.
What kind of visions CDOs should bring?
This vision can include acquiring new technology, setting up new businesses and investing more in innovations. These officers need to be among those who pioneer new, courageous ideas.
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