Many CIOs are caught in the middle — stuck between competing demands from the CFO to reduce costs and from the CEO to increase innovation. In fact this is a topic which often comes up in our strategic planning workshops with clients.
The challenge is to find a means to achieve both goals simultaneously. Here are four steps you can take to achieve just that.
1. Get agreement on your business capabilities.
Business capability maps are a great way to gain clarity on what's important to your business. A good business capability map for strategy work is one which is organizationally agnostic; i.e., when you look at the boxes on the map, you don't see department names. The reason this is important is that you don't want to put anyone in the position of having to defend "their box" on the capability map. By the way, this is much harder to achieve than you might think! Once you have a draft map, you can share it with business leaders to get their input. This is an important step, as the capability map must be owned by all business leaders — the process of refining the map encourages leaders to take ownership.
Tip: Remember, not all your capabilities are inside your organization. Many firms leverage business partners to deliver key capabilities. For example, some firms will use FedEx or UPS to provide their distribution capabilities.
The most engaging, most entertaining, and most stimulating presentation of IBM Connect 2013 came on the third day at the end of the opening session. I'm ashamed to admit that I didn't know Jane McGonigal when she came on stage. But after a minute I was fully engaged and tweeting insights and pearls of wisdom from her presentation.
I had missed the title of her presentation, but Jane was already throwing out fascinating data points on game playing. Now you have to understand, game playing to me is that thing my son does to avoid doing his homework. I haven't thought deeply about games since I built two animated game simulations on an Apple II to teach people business in my final year of university back in '84 (now I'm dating myself).
"We've invested 400,000 years playing Angry Birds" - Jane is on a roll now. I'm thinking "oh my, I too had contributed a few of those hours." Before giving it up as a colossal waste of time of course. I didn't know it, but apparently I was suffering from what Clive Thompson calls "gamers regret".