The Global Center for Digital Business Transformation defined a relatively new title for a senior leadership position: the Chief Transformation Officer. So what does a CTO exactly do?
Enterprises and businesses recently designated a new business role: Chief Transformation Officer, responsible for driving change and growth.
What is Chief Transformation Officer?
The main role for a CTO is to commercialize new ideas, initiate growth, and facilitate management changes in a business, as well as be responsible for developing a company’s strategic initiatives.
The CTO’s job is directly active within the context of large and mid-sized companies as a synergy creator. If the CTO role is strongly supported by the highest levels of business and is able to independently mobilize organizational resources and enable connections, his job will be necessary in driving fundamental transformational change.
Key Tasks of a CTO
- Customer journey mapping and analyzing the customer experience.
- Business model design, that is customer-oriented to factor in customer demands.
- Capability assessment, knowing about in-house capabilities and invest in closing the skills gap.
- Communications and training, mainly inform why the organization needs transformation and training people to make the organizational vision become a reality.
How to Prepare for the Position of CTO
With such an imporant role seeing light in the business world, it’s important to explore the various cultural and geopolitical characteristics of today’s complex international business environment to be able to prepare future managers to become members of the international community in this digital world.
MSc International Business at EMLV Business School
MSc International Business is designed to provide international students with the know-how to compete in the global business market. The programme combines an academic and practical approach to gaining competences needed to be a player in the international business environment.
Given the fact that there are digital job positions seeing the light every day and on an international scale, participants in the MSc International Business Programme will learn to master the latest tools and techniques that will give them a competitive advantage in today’s ever-changing world. It forms future executives who will play important roles in the business development of existing companies or even start-ups.
This degree prepares students and young entrepreneurs and managers for the job position of CTO as it covers developing a range of skills that employers are looking, particularly in the managerial framework where the intervention of a CTO comes in “Continuity” in large scale transformations; “Consistency” in aligning all operating model elements to the target state, and “Control” of the journey by implementing proactive risk management.
More about MSc International Business at EMLV.