Most IT leaders have experience with the various committees that are part of a company’s Board of Directors structure. It’s common for IT leaders to have to report to a board audit committee on security or other issues, or to a board finance committee as a prelude to asking for a large IT investment. Besides those two committees, many boards have several other committees, including ones for compensation, legal, nominating, governance, and sometimes even one for enterprise risk management, which is usually more focused on financial risks than anything else. What most boards don’t have, though, is a committee that focuses on what many now believe to be the most impactful company function of all – technology.
That seems short sighted and odd at best, and something else perhaps at worst. In nearly all of the current research and surveys of business executives, including Novarica’s, technology is nearly universally identified as the driving force in the company, for better or worse. Most business executives seem to believe that the very future of their company – its product portfolio, market position, and overall profitability – depends on the company’s ability to effectively master and leverage the right technologies for their business. That begs the question of why more companies do not have standing, board of director level technology committees to oversee nothing less than the future of the company.
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