In episode 92 of the Leadership Minute, practitioner analyst and CEO Tony Uphoff discusses ways CEOs can balance existing and emerging technologies within their organizations.
This episode is sponsored by “Selling to the New Executive Buying Committee,” an Acceleration Economy Course designed to help vendors, partners, and buyers understand the shifting sands of how mid-market and enterprise CXOs are making purchase decisions to modernize technology.
00:36 — Tony says CEOs must help organizations balance maintaining existing technologies while also dedicating time and resources to evaluate new or emerging tech.
00:56 — Tony shares an eight-point framework to balance existing and new tech priorities:
- Assign some teams to maintain existing technologies and others to focus on exploring and adopting emerging ones.
- Establish innovation labs or centers to explore new technologies.
- Run a risk assessment to prioritize the most promising technologies.
- Collaborate with partner organizations to gain insights into emerging technologies.
- Encourage a culture of continuous learning about existing and emerging technologies.
- Monitor industry trends and be open to shifting focus and resources.
- Pilot tech projects before fully committing.
- Put a long-term strategic plan in place to maintain current technologies and explore new ones.
03:28 — “Success in today’s digital-first, rapidly changing environment requires the ability to value both stability and innovation and having the systems and frameworks in place to efficiently manage resources for both,” Tony concludes.
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