Describe the position of chief information officer (CIO) and the CIO's importance to a company.

Question

What will be an ideal response?

Answer 1

Increasingly, executives with technology responsibilities hold the prestigious position of chief information officer (CIO), often called the chief technology officer (CTO). 

The CIO is a senior position at the corporate level with broad, integrative responsibilities. CIOs help ensure adequate cybersecurity measures are in place; coordinate the technological efforts of the various business units; identify ways that technology can support the company's strategy; supervise new technology development; and assess the technological implications of major strategic initiatives such as acquisitions, new ventures, and strategic alliances. They also lead their organization's information technology (IT) group.

Particularly when organizations value highly the agility resulting from continuous learning, this position is called chief innovation officer, another variation of the CIO or CTO. Whatever the C-level title, this officer ensures that technology advances in line with the company's strategy, and that ideas and knowledge flow freely between research and design, managers, and other employees.

Without the CIO's integrative role, different departments could adopt different technology tools and standards, leading to much higher equipment and maintenance expenses and difficulties in connecting the different parts of the organization. Additionally, because technologists often have very specialized expertise, managers without such expertise would find it difficult to supervise them effectively. A CIO can help managers ensure that the work technologists do is coordinated and aligned with overall strategic goals.

CTOs also perform an important boundary role: they work directly with outside organizations. For example, they work with universities funding research to stay abreast of technical developments and with regulatory agencies to ensure compliance with regulations, identify trends, and influence the regulatory process.