In Episode 47 of the CXO2 Minute, Wayne breaks down, for CEOs, what the CIO should know and the responsibilities the role should fulfill. He answers common questions, at a high level, that he has heard in discussions with CEOs and board members, including:
- What should a CIO do?
- What should a CIO know?
- How should a CIO fit into the organization?
This episode of the CXO2 Minute is sponsored by Community Summit North America, the largest independent gathering of the Microsoft Business Applications ecosystem taking place October 10-13 at the Gaylord Palms in Orlando, Florida. With 500+ Dynamics 365 & Power Platform sessions and over 300 speakers, this event is a must-attend for Microsoft customers. Go to summitna.com for more details.
01:33 — Wayne lists the first thing that a CEO should expect of their CIO: To understand financials as the Chief Financial Officer does. This involves understanding what came out of financial statements and what happened during an earnings call, for instance.
01:55 — The CIO should know products as well as the Chief Operating Officer. How are the products made and what do they do? How do they fit into the competitive ecosystem?
02:11 — People in this role should be knowledgeable about your markets and your marketing approach, just like the Chief Marketing Officer. How are you positioning your products? How do they compare and compete?
02:28 — CIOs should inspire investor conference confidence, and have the ability to lead discussions about the company that makes investors want to invest.
02:49 — Participation in board of directors strategy sessions is another quality that CIOs should have. They need to fully understand the possibilities available with the technology that the company has and how those capabilities fit into the board’s strategies.
03:37 — While many CIOs may disagree with this, Wayne stands firm that CIOs should be able to go on sales calls and even help close deals.
04:10 — When the CIO isn’t fulfilling these other responsibilities, they are also responsible for keeping the “techy stuff” running.
04:17 — Wayne leaves one final note for CEOs: Stop settling.
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