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How tech vanguards outperform the competition

Market-leading organisations are growth- and change-oriented and have highly engaged business leaders, according to a new Deloitte report.

High performing organisations grow through focusing on innovation and customers. These market leaders tend to have an aptitude for transformation and are led by board members and upper management (C-suite) who prioritise the use of technology.

We studied baseline organisations and tech vanguards (organisations that are more advanced than baseline organisations) in three areas: vision and strategy, market leadership and technology function maturity. The most prominent difference between tech vanguards and baseline organisations is in terms of growth and change orientation and C-suit and board support.

A combined technology and business vision and strategy can enable tech vanguards to better understand the changing market conditions and allow them to better anticipate and manage changes in consumer behavior. Here are a few things that tech vanguards do differently:

1. Aim for growth and transformational change.

Tech vanguards emphasise innovation and focus on their customers as opposed to cost reduction like many baseline organisations do. Tech vanguards’ growth strategies are customer focused and they often use technology to better customer experiences and manage to engage their customers in the innovation process. They also tend to focus on large transformations and implementation of new business models, whereas baseline organisations tend to focus on smaller change initiatives to revamp their existing operating models.

2. Engage boards and business execs.

Boards of tech vanguards organisations are much more likely than boards of baseline organisations to be supportive of and engage with technology leaders and initiatives. Vanguard board members champion technology-enabled change by sharing with their technology leaders a tech-enabled vision for the future that will guide business decisions, priorities and investments. They are advocates for technology-enabled changed and are more frequently involved in technology issues than board members of baseline organisations.

Support from board members and C-suite executives for technology leaders will enable CIOs to step away from their traditional role of improving/maintaining operational efficiency to focus more on transformation and delivering more value to their organisation.
 

How tech vanguards outperform the competition

Market-leading organisations are growth- and change-oriented and have highly engaged business leaders, according to a new Deloitte report.

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