Research shows boards not strategic enough about technology
Categories: digital strategy
We have done research in technology and the board and the CXO suite and when we did this a few years ago one of the things we found is that the time the boards spent on technology issues was very much internally focused and had to do with things like returns on investments and CIO successions and compliance and the auditing function and all these sorts of things and they spent very little time on these sort of more strategic things of how technology might change their business and industry and in just the last couple of years we have seen that change to a significant degree but still a good ways to go but a lot of boards now are at least making an effort to have people in there who have a more first-hand feel for digital issues than they would have done a few years ago, but still it is a real problem in a lot of senior boards that we work with and see.
We don’t see any industry where information technology is not a hugely important issue. In fact we did a survey just a few months ago and only two percent of the business leaders said that IT was not an important issue for their firm so technology effects customer relationships, product designs, competitive issues, pricing issues, service issues, so it effects everything that companies need to care about and so you are no longer in this position where executives can say well technology is not my thing, that is for somebody else to do and IT doesn’t matter, I don’t need to know about that. Those sorts of things that you used to hear quite often, you really don’t hear very much at all anymore because people realise that stuff is not a good thing to say.