A company’s business units and technology organization need to be much more in tune with each other. Here’s a simple idea: have the CEO and CTO jointly issue an annual report for technology—something analogous to the annual report for investors and the broader market. This document would not only provide a candid overview of the ability to extract business value from technology but also substantiate that analysis with hard metrics. It would share perspectives on the challenges of technology, convey ideas about its role in the company, celebrate achievements, and articulate plans and visions for the future.
To show that the company is serious about bridging the gap between technology and the business units and to discourage people from seeing the report as an attempt by IT to plead its own case, it’s important that the CEO and CTO issue the report jointly.
Source: “Memo to the CEO: Why we need an annual report for technology”
Original Publication: The McKinsey Quarterly
Subject: IT / Internet / E-Business