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IT Management Slideshow:
CEO Strategies: What Every CIO Needs to Know

By Dennis McCafferty on 2011-07-25


Want to know what ranks foremost on the list of priorities for your CEO? According to a survey from The Conference Board, it’s a matter of driving their companies toward growth while developing talent and keeping costs down, among other goals. As to how, exactly, to achieve these objectives, CEOs often depend upon contributions from the CIO and IT department, according to the research. Strengthening end-to-end process management, systems thinking and agility -- three goals that tech plays a firm hand in -- are all considered part of the solution set here. “Quality management practices today go far beyond a handful of statistical tools and a quality assurance mentality,” according to the report. “While these tools are still essential, they are not, by themselves, sufficient. Quality management today takes a more holistic view and is tightly linked to strategies and goals while embracing new channels for engaging and responding to customers and consumers.” More than 700 global CEOs, presidents and chairmen took part in the research.

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Top-ranked challenges for global CEOs:
1. Business growth
2. Talent development
3. Cost optimization
4. Innovation
5. Government regulation

Top three strategies to meet business growth challenge
1. Develop or expand a sustainable products and services portfolio.
2. Introduce innovations and new value propositions.
3. Enter or expand into emerging markets.

Top three strategies to meet talent challenges:
1. Improve leadership development programs and nurture talent internally.
2. Enhance effectiveness of senior management team.
3. Provide employee training and development.

* Top three ways to meet cost-optimization challenges:
1. Redesign business processes.
2. Improve employee productivity.
3. Achieve economy of scale through standardization or harmonization of products and processes.

Top three strategies to meet innovation challenges:
1. Apply new technologies (product, process, information, etc.).
2. Foster entrepreneurship, innovation and appropriate risk taking.
3. Engage in strategic alliances with customers, suppliers and/or business partners.

Top three government regulation strategies:
1. Engage with competitors or stakeholders to influence regulatory agenda.
2. Increase lobbying to promote level playing field.
3. Engage public to influence government.

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