We recognise that there will be major investments in Malaysia's 2015 budget to support business growth. If this results in greater business and consumer confidence we would expect IT spending to also increase.
Could you summarise the keys that will help enhance the 'relevance' of an organisation in the changing digital space?
As we move toward the third era of Enterprise IT where digitalisation takes main stage, enterprises and their CIOs should "flip" long-held behaviours and beliefs in terms of information and technology leadership, value leadership and people leadership.
- The change requires commitment and focus from the CIO, and support from other C-level executives to result in digital business success.
- Information and technology leadership:
Ø Legacy first -> Digital first
Ø The current CIO mind-set is to nurture and evolve legacy assets. With digital business, a digital information and technology mind-set, and working backward is required.
- Value leadership:
Ø Visible -> Valuable
Ø Instead of generating ROI immediately, digital businesses should be able to deal with rapid change and manage value dynamically.
- People leadership:
Ø Control -> Vision
Ø CIOs currently focus their leadership inside IT. However having vision would inspire them when doing something new.
In addition, a successful transition to a digital business will take a multiyear perspective. So far:
- Malaysia CIOs, along with their ROW peers, are doing less than what would be ideal.
- Over half of all planning effort is focused on the coming year, 87 percent of planning effort for Malaysia CIOs is focused on now to a maximum of three years out.
This underlines the difficulty Malaysia CIOs have with making the necessary longer-term plans to help renovate their core IT in preparation for the move to digital.
Sign up for CIO Asia eNewsletters.