Nine strategies to help organisations apply their values to technology, people, and processes
Deloitte’s 2020 Tech Trends report identifies nine strategies aimed at helping organisations apply their company’s values to technology, people, and processes.
- Encode company values. An organisation’s values can be encoded and measured within its technology solutions. An example would be a cloud computing provider that automatically issues alerts before customers go over budget.
- Build a strong data foundation. Without methodically and consistently tracking what data organisations have, where it lives, and who can access it, companies cannot create an environment of trust.
- Harden defences. Cyber defences represent a company’s commitment to protect customers, employees, and business partners from those who do not share similar values.
- Respect stakeholder privacy. Companies can create data privacy policies that build, rather than erode, public trust.
- Be transparent. Companies can build trust with stakeholders by proactively and transparently demonstrating good behaviour. For example, rather than masquerade as humans, intelligent agents or chatbots can identify themselves as such.
- Respect differing cultural norms. It can be challenging to serve a global market in which expectations on government surveillance or law enforcement cooperation vary widely. Businesses can play an important role in helping governments as they develop laws and standards that increase the reliability of emerging technologies.
- Deploy the power of all. Leading companies are creating teams and roles that reflect their diverse customer base and bringing in multiple viewpoints from different industries, economic backgrounds and educational experiences.
- Teach employees to fish. Training technologists to recognise their own biases in the products they may create is an important step toward creating a culture that emphasises trust.
- Give employees a reason to trust. Much of the anxiety over AI and other advanced technologies stems from fear of the displacement of labour. From an ethical perspective, this fear presents business leaders with a challenge: balancing the best interests of the business with those of employees and the wider community and society.
Critical behaviours for a growth-enhancing culture
Companies thinking about the future will find that a focus on culture pays dividends when it comes to growth. Aligning your strategy, operating model and culture should be a priority, because a company’s culture can either support or potentially derail its progress.
By identifying the critical behaviours that must be embedded in your organisation to bring that growth-enhancing culture to life, you can help your company weather these turbulent times and come out of them even stronger than before.
How the CFO enables the board’s success
McKinsey & Company
Barbara Kux and Rick Haythornthwaite, longtime board directors for multiple global organisations, explain how in times of crisis or transformation, the CFO can serve as a rock in the boardroom, a critical arbiter of difficult decisions, and a scout for the future.
Read the full survey results here.
CIOs are CEOs’ top strategic partner
Deloitte and WSJ Intelligence conducted a survey of 100 CEOs and 400 technology leaders to understand their perspectives on digital transformation and business strategy and to delineate the relationship of these two C-suite roles.
The survey shows that CEOs and CIOs agree on technology’s value in achieving strategic business goals, with top executives increasingly relying on tech chiefs to lead the way.
Read the full survey results here.