Global Center for Digital Business Transformation observed that companies are nowadays hiring for a new role—chief transformation officer (CTO). What is this role and what are its duties? In this article at the Enterprisers Project, Michael R. Wade discusses 8 duties to perform as a chief transformation officer.
Introducing the Role of Chief Transformation Officer
CTO meant Chief Technology Officer until now. However, the role of a chief transformation officer is to leverage organizational changes and facilitate new growth. Neiman Marcus and UPS appointed for this role recently. Its job is to overlook new idea generation, initiate innovation, and enable changes. JC Penny wants its newly hired chief transformation officer to create new-age company strategies.
A DBT research reveals that 75 percent of executives opine digital disruption is going to transform businesses. For a chief transformation officer to facilitate growth, the role needs stakeholder support as usual. However, the new role is more suitable or large to mid-size companies. These companies mainly encounter challenges of two kinds. They still evaluate project cost and value as per traditional doctrines. They also fear backlashes when things do not go as per organizational politics. The chief transformation officer can help address these. Following are the 8 duties a chief transformation office should perform:
Analyzing Customer Experience: Adobe CIO Cynthia Stoddard says that you must constantly improve customer experience by analyzing their journey.
Creating a Customer-Centric Business Model: A chief transformation officer must factor in customer demands to create a customer-specific business.
Understanding Company Structure: Know how to leverage resources and connections within the organization to deploy them during change management.
Measuring Capabilities: A chief transformation officer must know about in-house capabilities and invest in closing the skills gap.
Creating Awareness and Endorsing Training: Inform why the organization needs transformation and train people to make the organizational vision become a reality.
Measuring Tools: Implement measuring platforms to understand your transformation progress.
In-House Sponsor Role-Playing: Invest in ventures that encourage new ideas and cross-functional initiatives in-house.
Being Agile: ING CTO Roel Louwhoff remarks that merely shifting from waterfall to agile cannot transform businesses. The chief transformation officer must involve everyone in understanding company strategies, challenges, and solutions.
To view the original article in full, visit the following link: https://enterprisersproject.com/article/2019/3/chief-transformation-officer-role