Digital vision of companies set by CEOs 40% of the time: Report

MUMBAI: A recent survey shows that about 40% of the time the digital vision and strategy of a company is set by the chief executive instead of a functional specialist. The findings of the Russell Reynolds Associates’ Digital Pulse 2017 survey underscore the need for business acumen and general management and end-to-end operational understanding of the business, beyond tech savviness.

According to Puneet Kalra, managing director of Russell Reynolds Associates, the world’s largest companies are allotting C-level positions to tech-specific roles, specifically CDO (chief digital officer).

"However our research shows that companies get it wrong when they see the CDO as an extension of a CIO or a CTO. Digital transformation is not only a technology discussion, but a leadership challenge and there is an emergence of a new breed of leaders who are data-driven, business-centric, technology-savvy and well equipped to embrace and master digital transformation,” said Kalra.

While the bulk of CDOs today have a technology background, 30-40% of the CDOs now come with primary expertise in marketing, sales or customer service. But they all have to operate at the intersection of strategy and technology, and help their boards connect the dots with technology and their digital strategies, often assuming larger responsibilities, including P&L accountability, Kalra said.