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The Changing Role of the CIO

Driving business growth and innovation

CIOs have historically focused on core delivery and operations with a budget and operating model built around low risk—buying enterprise-class software, building a talent base that could support a well-defined future state, driving for efficiencies in light of constant cost pressures.

More and more CIOs, faced with disruptive technology forces such as mobile, social, and big data, are shifting from a world of known problems into one filled with unknowns. CIOs are realizing that their current tools for managing risk and leveraging assets may not work in this new world. To help drive business growth and innovation, they will likely need to develop a new mindset and new capabilities.

To do this, many CIOs are borrowing from the playbook of today’s leading venture capitalists.  Like venture capitalists, CIOs should actively manage their technology portfolios in a way that drives enterprise value and evaluate portfolio performance in terms that business leaders understand—value, risk, and time horizon to reward. CIOs who can combine this with agility, and align the desired talent, can reshape how they run the business of IT.

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Tom Galizia, principal, Deloitte Consulting LLP, describes how CIOs can help drive business growth and innovation by adopting some core principles and behaviors of today’s venture capitalists.

Insights from Deloitte

Read the latest insights on Innovation in CIO Journal
Published by The Wall Street Journal, CIO Journal offers a premium news and information service for chief information officers and senior business executives interested in technology.

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