How technolgy savvy does a CEO have to be?

How do you keep up with keeping-up? That’s the question posed by rapid technological change.

But rather than shy away from the challenge it appears that C-level executives are ready to embrace the disruption.

KPMG’s 2017 Outlook found that two-thirds of the 150 UK business leaders surveyed believed ‘technology destruction is more of an opportunity than a threat.’

How tech savvy do you need to be?

As CEO, you’re the strategist, the one with a hawkish eye on the bottom line.

That goes without saying.

But what about all those fancy instruments and machines putting your vision into action?

Want the good news? So long as you know enough about the impact technology will have upon your business you’ll be able to stay ahead of the curve.

You don’t need to be a digital demon

While it’s important to have a high-level understanding of your tech, you don’t need to be an expert.

There’s no need to get bogged down in having a forensic understanding of multiple technology components. Simply further your own tech education by gaining insight from others around your organisation. Understand the tech at your disposal to get a grasp of the user experience and any pain points.

Surround yourself with smart people

There’s no real science to this. Some of the most successful people on the planet swear by the belief that they’ve reached the summit by surrounding themselves with people smarter than them. That’s especially true when it comes to tech. Get the necessary brain power onboard to solve problems.

Delegate

Great leaders are also great delegators. CEOs must take a holistic view and create solid foundations that allow their people to deliver a digital strategy capable of meeting business goals. Learn how to answer questions around the technology behind your product or services and empower your tech team to get the job done.

Understand what matters

Data, data, everywhere. Accumulating data is one thing. But how do you interpret it? Do you understand what’s valuable and what can be ignored? What does the data you have tell you about engagement, behaviours and the way digital platforms are driving interactions with your business?

A visionary CEO won’t just be staying ahead of their competitors, they’ll be anticipating future customer needs as well.

That doesn’t mean you have to be able to write new code or build a server. But if you can see something should change then you’ll at least be able to communicate that to your team and let them do the rest.

Be honest with yourself

Has your business got the right people to make the CEO’s life that little bit easier?

A common theme here centres on having the mindset to acknowledge any technical limitations and the ability to plug those gaps. All of which involves hiring the tech know-how needed to fulfil your vision and serve your customers.

Consider the following:

• How does your tech team stack up to the competition?
• Can you find the key skills required for future projects?
• Can you harness existing skills within your organisation?
• What tech do you need to future-proof your business?

If you’d like to discuss the tech expertise in your business, then get in touch with me via james.potter@bps-world.com.