4 Ways CEOs Can Prioritize Both Line of Business and Innovation Background Image

4 Ways CEOs Can Prioritize Both Line of Business and Innovation

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Published Thu February 14, 2019, 12:00 AM IST

Technology’s impact on line of business can’t be undersold.

Just look at tools such as Robotic Process Automation, software that streamlines warehouse storage and speed of delivery by automating redundant, time-consuming human tasks. Then, of course, there’s Amazon, which uses technology to power its signature two-day shipping model. Where retailers try to use immediacy to market in-store pickups, Amazon prioritizes customer experience and convenience, bolstering both by its commitment to technology.

Each example illustrates the line-of-business improvements triggered by technology, yet some leaders won’t account for those upgrades when allocating resources. Where does the disconnect come from? For starters, C-Suite members are sometimes unable to keep up with the speed of technological innovation. And when they do look for new business solutions, they tend to limit themselves by keeping IT and other departments out of the loop until it’s time to implement the new strategies.

To best serve the customer and continue line-of-business growth, the C-Suite needs to openly communicate with other department heads and look at what competitors do. Follow these four steps:

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