Governance of enterprise Information and Technology: A new core competency for boards of directors

Valentine, Elizabeth (2016) Governance of enterprise Information and Technology: A new core competency for boards of directors. Enterprise Governance Consulting, Wellington, New Zealand.

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16 Page, second edition report.

Abstract

With the level of digital disruption that is affecting businesses around the globe, you might expect high levels of Governance of Enterprise Information and Technology (GEIT) capability within boards. Boards and their senior executives know technology is important. More than 90% of boards and senior executives currently identify technology as essential to their current businesses, and to their organization’s future. But as few as 16% have sufficient GEIT capability. Global Centre for Digital Business Transformation’s recent research contains strong indicators of the need for change. Despite board awareness of both the likelihood and impact of digital disruption, things digital are still not viewed as a board-level matter in 45% of companies. And, it’s not just the board. The lack of board attention to technology can be mirrored at senior executive level as well. When asked about their organization’s attitude towards digital disruption, 43% of executives said their business either did not recognise it as a priority or was not responding appropriately. A further 32% were taking a “follower” approach, a potentially risky move as we will explain. Given all the evidence that boards know information and technology (I&T*) is vital, that they understand the inevitably, impact and speed of digital change and disruption, why are so many boards dragging their heels? Ignoring I&T disruption and refusing to build capability at board level is nothing short of negligence. Too many boards risk flying blind without GEIT capability [2]. To help build decision quality and I&T governance capability, this research: • Confirms a pressing need to build individual competency and cumulative, across-board capability in governing I&T • Identifies six factors that have rapidly increased the need, risk and urgency • Finds that boards may risk not meeting their duty of care responsibilities when it comes to I&T oversight • Highlights barriers to building capability details three GEIT competencies that boards and executives can use for evaluation, selection, recruitment and professional development.

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ID Code: 95393
Item Type: Report
Refereed: No
Additional Information: This report is an executive summary of Dr. Elizabeth Valentine's 2016 Thesis undertaken at Queensland University of Technology.
Additional URLs:
Keywords: Corporate governance, Digital disruption, Digital Leadership, Board IT governance capabilities, Governance of Enterprise IT, GEIT, Digital transformation, IT Governance competency set
Subjects: Australian and New Zealand Standard Research Classification > INFORMATION AND COMPUTING SCIENCES (080000) > INFORMATION SYSTEMS (080600) > Information Systems Management (080609)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Business Information Systems (150302)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Corporate Governance and Stakeholder Engagement (150303)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Innovation and Technology Management (150307)
Divisions: Past > Schools > Brisbane Graduate School of Business
Current > QUT Faculties and Divisions > QUT Business School
Copyright Owner: Dr. Elizabeth L. H Valentine 2012 - 2016 All rights reserved
Deposited On: 05 May 2016 05:06
Last Modified: 05 May 2016 05:07

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