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Software Saviors: Forbes CIO Next List Highlights Tech Leaders Preparing Businesses For A Post-Pandemic Recovery
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Prominent Silicon Valley VC Marc Andreessen coined the phrase “software is eating the world” to emphasize how digital insurgents have transformed industry after industry. After the past year’s events, perhaps it’s time to rephrase that to “software is saving the world.”
Computers and the programs they run have played a crucial role in supporting researchers hunting for Covid-19 vaccines, governments trying to keep track of the virus’s spread via mobile apps and companies shifting millions of employees to remote work and launching new e-commerce sites to stay connected to customers.
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As they develop digital initiatives, companies should aim to create and track three types of value, according to a new research briefing from the MIT Center for Information Systems Research: value from operations, value from customers, and value from ecosystems.
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The briefing by researchers Ina Sebastian, Peter Weill, and Stephanie Woerner was based on in-depth interviews with 23 executives from companies around the world and an exploratory statistical analysis using data from a global survey of 1,311 executives. The three types of value collectively explained 39% of the companies’ revenue growth and 24% of their net profit margins compared to other companies in their industries.
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Today’s business leaders are adjusting to new ways to communicate and get work done. This means that digital savviness is becoming just as important as business acumen for managers and executives. The latest insights from MIT Sloan Management Review highlight how a diverse range of digital services from social media to artificial intelligence to crowdsourcing are influencing leadership styles, data-driven initiatives, and supply chain transparency.
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New research suggests that companies with digitally savvy executive teams outperform their competitors. Revenue growth is 48% higher for firms whose leaders understand how emerging technologies will impact business success, and net margins are 15% higher. Five roles have the strongest link to high performance: CEO, CFO, head of marketing, head of corporate communications, and head of compli
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