Essential Business Concepts Tech Leaders Must Understand (And Why)

Expert Panel® | Forbes Councils Member
Forbes Technology Council
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Tech leaders are increasingly being asked to work more closely with the C-suite to determine overall business decisions and direction. To do this effectively, it’s essential to not only be well-versed in the impact technology has on organizational operations and growth, but also to know how to communicate the breadth and importance of that impact.

A thorough understanding of fundamental business concepts and metrics, the ability to speak in terms fellow leaders can understand, and a drive to find new ways to better support teamwide efforts through technology are all vital aspects of a tech leader’s role in today’s digital workplace. 19 members of Forbes Technology Council explain essential business concepts every tech leader must understand and why they’re so important.

12. Bottom-Line Impact

When speaking to the C-suite, tech executives must stop focusing on technological capabilities and instead provide defensible ROIs and demonstrable impact to the business in terms of increased sales or decreased costs. The majority of the C-suite views technology as an expensive overhead rather than a competitive advantage. When you articulate value in the context of business impact, you will always get funding. – Jim Barrett, Edge Total Intelligence

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For more information about Forbes Technology Council, visit their website at forbestechcouncil.com.

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