Digital leaders will need to accept risk if they are to achieve great results in an ever-widening range of digital transformation projects.
According to analyst Gartner, more than half (57%) of board directors have or will have more risk appetite in 2022, with most citing economic uncertainty, disruptive patterns competitors or cost inflation due to supply shortages.
Responding to these new board demands through a wide range of initiatives is a complex task. Technology leaders will need to ensure that they and their teams are able to balance risk and opportunity to deliver great results for the organization and its customers.
Four business leaders share their advice on best practices to become a leader capable of carrying out digital transformation projects for the company.
1. Build strong relationships with your team
Adam Miller, chief information officer at insurance company Markerstudy Group, explains that being a courageous leader requires having confidence in your own decisions, which requires deep personal knowledge and a strong relationship with a team you are on. can count.
“The better you know your subject, the more confidence you will have in the decisions you make and how you communicate them,” he says. “Similarly, having a strong team around you will give you confidence in the decisions you make. It’s a mutual thing. »
According to Adam Miller, all business leaders should strive to build strong relationships with the people who will support the projects they run. Managers also need to remember that these relationships are a work in progress. Business leaders will be judged by the people they lead on the actions they take.
“So if you look after the staff that work for you and support their decisions – which means giving people cover when they need it – I think those are the things that help build those strong relationships. And when you have those strong relationships, you can have confidence in the decisions you make,” adds Adam Miller.
2. Value continuous learning
Lisa Valentino, executive vice president of customer and brand solutions at Disney Advertising Sales, says her “secret sauce” for success as a leader is to make sure she continues to study the craft. By continually learning from her colleagues, Lisa Valentino finds it easier to make courageous decisions.
“I think it’s hard to take risks, and we’re asked to take them every day,” she says. “We must have a long-term vision of the market and give recommendations and strategies to the company. And to do it effectively, you have to know this company like the back of your hand. »
Lisa Valentino leads a series of data-driven initiatives for Disney, including using Snowflake’s Media Data Cloud to bring information assets together. She builds her knowledge of business operations by ensuring that she is actively involved in the various elements of the business, whether it is media and streaming or data and technology.
By focusing on her people and making sure they understand the big business goals, Lisa Valentino believes she continues to be on top of the issues facing the organization and can make courageous decisions that benefit everyone. “You have to be as smart as possible,” she says. “If I know the market, then I take calculated risks every day. These are always risks, but they are calculated. »
3. Establish new working methods
Milena Nikolic, CTO at transport specialist Trainline, believes that empowering staff and establishing accountability are the two key factors that enable her to make decisions on behalf of the business.
“I think it’s about providing clear swim lanes and goals for people and then letting them go. But they also need to be held accountable for this process. I think those two things allow you to break down the barriers and let your people focus on their work,” she explains.
Since joining Trainline in July 2021, Milena Nikolic has been focused on creating a new target operating model, which involves establishing new ways of working centered around managing cross-functional teams geared towards specific business results.
According to her, the goal of this model is to keep people engaged and accountable and to ensure that their activities in the workplace are aligned with Trainline’s key strategic priorities. This agile approach aims to develop a start-up culture within the company, allowing people to suggest and then refine innovative services for customers.
“You need a very clear and meaningful goal, and then you need to empower your people. And that’s how people can be successful. This was the underlying philosophy that came through when we designed a new target operating model with my product counterparts and members of my technical team,” she explains.
4. Delegate decision-making to trusted specialists
Craig York, technical director of Milton Keynes University Hospital NHS Foundation Trust, says the key to being a courageous leader is simple: delegation. “Given the size of the organization and the department that I manage, I cannot participate in all the decisions and all the meetings,” he explains. “You have to have confidence and delegate real and effective power to your team and to others so they can get things done. If you want to advance on many digital maturity tracks, you need to feel secure enough to be able to do so. »
Craig York says he’s fortunate to have established this level of delegation to his team, giving him time to explore new strategic opportunities with vendors and CIO peers across the country and beyond.
According to him, it is also important to recognize that leadership is linked to specialized knowledge in the field. “Our CCIO [chief clinical information officer] is a consultant surgeon, and she devotes time to computers. She has an office here in the IT department, and there are no barriers or hierarchy. She attends our IT management meeting weekly and makes sure our change control committee is keeping things running smoothly. But it also checks that what is on our priority list is also a priority for a clinician. »
Source: ZDNet.com