Monday 2nd August 2021
Business disruption is nothing new, but organisational resilience was truly tested in 2020 and continues to be challenged in 2021.
The changes forced by recent events have accelerated the need and desire to move away from physical practices to virtual methods of operation. Thus, the need for a greater understanding and championing of technology has never been more pressing.
Deloitte’s 2020 Global Technology Leadership Study not only outlines the importance of implementing meaningful changes that outperform an incremental approach, but also highlights the essential role that technology leaders must take as businesses move forward.
The Time For Transformative Change
The effective implementation of technology has the power to drive change throughout an entire organisation.
Organisations should be looking to leverage technology and the expertise of transformational technology leaders – these vital tools work to improve resilience and agility, as well as predicting and understanding future industry trends.
Business leaders must embrace this time of rapid change, and rethink their approach to technology funding and leadership practices.
Traits of a Technology Vanguard
Deloitte’s study also outlines the core attributes of enterprises that are paving the way for technological innovation – something they term a ‘technology vanguard’.
According to the study, a technology vanguard is more advanced in numerous areas, including:
- Vision and strategy – have an understanding of technology’s central role as a driving force and facilitator of growth.
- Technology function maturity – have established and respected technology functions that can play a key role in fashioning long-term resilience.
- Market leadership – have a competitive edge and leverage technology to their advantage.
The benefits of establishing yourself as a technology vanguard come down to exceeding the capabilities of your competitors; this ensures your enterprise is better positioned to deal with future changes and more equipped to expand to new markets and revenue streams.
The Importance of Technological Leaders
With the developing landscape, there comes an opportunity for technology leaders to become instrumental agents of change, helping their organisations transform and adapt to new norms.
As organisations become more willing to increase their technology budget, they should also prioritise investing in new talent and recruiting leaders that have the qualities to drive them into a vanguard position.
The Deloitte study defines this kind of technology leader as a kinetic leader – someone who is focused on the future and can instigate technological advancements within the fabric of the whole business.
Key aspects of a kinetic technology leader include being:
- Agile and nimble
- Able to take risks
- Able to engage with directors and tenaciously pursue technological opportunities
Now is the time for businesses to make bold changes focused around technological innovation and leadership to better prepare them for a post-COVID world.
To find out more about the benefits and practicalities of integrating technology into your organisation, get in touch today.