CIO mission Definitions

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  • I

    IT strategist (information technology strategist)

    An IT strategist (information technology strategist) is someone in an organization who is given the responsibility and authority to establish initiatives that affect the organization's IT and business strategy.

  • IT strategy (information technology strategy)

    IT strategy (information technology strategy) is a comprehensive plan that outlines how technology should be used to meet IT and business goals.

  • IT transformation

    IT transformation is a complete reassessment and overhaul of an organization's information technology (IT) systems in order to improve the efficiency and delivery in a digital economy.

  • technology addiction (internet addiction)

    Technology addiction (Internet addiction) is an impulse control disorder that involves the obsessive use of mobile devices, the internet or video games despite negative consequences to the user of the technology. The disorder may also be referred to as digital addiction or internet addiction.

  • K

    knowledge-based systems (KBS)

    A knowledge-based system (KBS) is a form of artificial intelligence (AI) that aims to capture the knowledge of human experts to support decision-making.

  • L

    labor arbitrage

    Labor arbitrage is the practice of making use of the least costly labor for producing products or goods.

  • labor automation

    Labor automation refers to the use of technology to perform specific tasks or jobs traditionally done by humans. As artificial intelligence and machine learning become integral to labor automation, experts believe entire jobs, not just specific tasks, will be automated.

  • LBO (leveraged buyout)

    An LBO or leveraged buyout is the purchase of a company or single asset using a large amount of borrowed money, supplemented with some equity from the acquirer.

  • leadership

    Leadership is the ability of an individual or a group of individuals to influence and guide followers or other members of an organization.

  • leadership skills

    Leadership skills are the strengths and abilities individuals demonstrate that help the oversee processes, guide initiatives and steer their employees toward the achievement of goals.

  • leadership traits

    Leadership traits are the personal qualities that shape effective leaders.

  • Lean Six Sigma

    Lean Six Sigma is a data-driven approach to improving efficiency, customer satisfaction and profits.

  • Learning Guide: ROI

    Discover more about return on investment, including how to calculate ROI, in this learning guide.

  • learning management system (LMS)

    A learning management system (LMS) is a software application or web-based technology used to plan, implement and assess a specific learning process.

  • M

    managerial grid model (The Blake and Mouton Managerial Grid model)

    The managerial grid model was developed by Robert R. Blake and Jane S. Mouton in the 1960s to help companies and individuals analyze and improve management styles.

  • mind-brain identity theory

    Mind-brain identity theory is a philosophy that purports the mind and brain are the same.

  • multisig (multisignature)

    Multisig, also referred to as multi-signature, describes the requirement of obtaining two or more signatures to authorize or execute a transaction. The term often refers to its application within Bitcoin cybercurrency and comparable electronic transactions.

  • multisourcing (multi-sourcing)

    Multisourcing (multi-sourcing) is an outsourcing approach, most frequently employed by large enterprises, whereby IT operations and technology infrastructure are contracted to a series of vendors, rather than kept in-house or contracted to a select few providers.

  • O

    OODA loop

    The OODA loop (Observe, Orient, Decide, Act) is a four-step approach to decision-making that focuses on filtering available information, putting it in context and quickly making the most appropriate decision while also understanding that changes can be made as more data becomes available.

  • organizational change management (OCM)

    Organizational change management (OCM) is a framework for managing the effect of new business processes, changes in organizational structure or cultural changes within an enterprise. Simply put, OCM addresses the people side of change management.

  • organizational goals

    Organizational goals are strategic objectives that a company's management establishes to outline expected outcomes and guide employees' efforts.

  • outsourcing

    Outsourcing is a business practice in which a company hires a third-party to perform tasks, handle operations or provide services for the company.

  • P

    paternalistic leadership

    Paternalistic leadership is a managerial approach that involves a dominant authority figure who acts as a patriarch or matriarch and treats employees and partners as though they members of a large, extended family. Employees are listened to, but the leader makes the final decision.

  • PICK chart (Possible, Implement, Challenge and Kill chart)

    A PICK chart (Possible, Implement, Challenge and Kill chart) is a visual tool for organizing ideas. The purpose of a PICK chart is to identify which ideas can be implemented easily and have a high payoff.

  • Porter's Five Forces

    Porter's Five Forces is a framework developed by economist Michael E. Porter to determine the profitability and therefore attractiveness of a market or market segment.

  • power user

    A power user, also called a super user, is someone whose computer skills are better than those of an organization's average end user. 

  • PPM (project and portfolio management)

    PPM (project and portfolio management) is a methodology used to prioritize IT projects based on cost, benefits and use of resources to achieve business goals.

  • prescriptive analytics

    Prescriptive analytics is a type of business analytics that focuses on finding the best course of action for a given situation, and belongs to a portfolio of analytic capabilities that include descriptive and predictive analytics.

  • procurement plan

    A procurement plan -- also called a procurement management plan -- is a document that is used to manage the process of finding and selecting a vendor.

  • product development (new product development - NPD)

    Product development, also called new product management, is a series of steps that includes the conceptualization, design, development and marketing of newly created or newly rebranded goods or services.

  • programmable economy

    The programmable economy is a term created by research firm Gartner Inc. in 2014 to describe the revolutionary changes happening in the global economy due to technology innovations.

  • project charter (PC)

    A project charter (PC) is a document that states a project exists and provides the project manager with written authority to begin work.

  • project management

    Project management is the discipline of using established principles, procedures and policies to successfully guide a project from conception through completion.

  • project scope

    Project scope is the part of project planning that involves determining and documenting a list of specific project goals, deliverables, tasks, costs and deadlines.

  • public data

    Public data is information that can be freely used, reused and redistributed by anyone with no existing local, national or international legal restrictions on access or usage.

  • R

    radical innovation

    Radical innovation refers to an invention that represents something new to the world. Radical innovations typically carry more risk, promise greater reward and are more disruptive than incremental innovations, which in general improve upon something that already exists.

  • rainmaker (business)

    A rainmaker is an individual who generates an unusually high amount of revenue for an organization by bringing new clients and new business to the company.

  • reshoring

    Reshoring is the practice of bringing outsourced personnel and services back to the location from which they were originally offshored. 

  • retargeting

    Retargeting is a type of online advertising whereby companies focus on particular audience members for promotions based on users' prior Internet search history or site visits.

  • reverse mentoring

    Reverse mentoring is a management practice in which a senior employee seeks to gain business insights from a less experienced, often younger employee.

  • rightsourcing

    Rightsourcing is selecting the best way to procure a service and deciding whether a company is best served by performing a business requirement in-house (insourcing) or contracting it out to a third-part service provider (outsourcing).  Rightsourcing literally means "choosing the correct source."

  • rogue IT

    Rogue IT is the use of unsanctioned information technology resources within an organization. 

  • ROI (return on investment)

    For a given use of money in an enterprise, the ROI (return on investment) is how much profit or cost saving is realized as a result.

  • S

    selective outsourcing

    Selective outsourcing is a targeted sourcing strategy that relies upon sending very specific functions and work off-premises while keeping other functions on-premises.

  • self-directed work team (SDWT)

    A self-directed work team (SDWT) is a group of people, usually employees in a company, who combine different skills and talents to work without the usual managerial supervision toward a common purpose or goal.

  • servant leadership

    Servant leadership is a leadership philosophy built on the belief that the most effective leaders strive to serve others, rather than accrue power or take control.

  • shared services

    Shared services is the consolidation of business operations that are used by multiple parts of the same organization.  

  • Silicon Valley

    Silicon Valley is home to some of the world's largest technology corporations and thousands of technology-related startup companies.

  • SIPOC diagram (suppliers, inputs, process, outputs, customers)

    A SIPOC (suppliers, inputs, process, outputs, customers) diagram is a visual tool for documenting a business process from beginning to end prior to implementation.

  • situational leadership

    Situational leadership is based on the belief that there is no single way to direct people; successful leaders will adapt the way they lead to the needs and abilities of their employees.

  • SkunkWorks project (Skunk Works)

    A SkunkWorks project (also known as Skunk Works) is an innovative undertaking, involving a small group of people, that is outside the normal research and development channels within an organization.

  • SMAC (social, mobile, analytics and cloud)

    SMAC (social, mobile, analytics and cloud) is the concept that the convergence of four technologies is currently driving business innovation.

  • soft skills

    A soft skill is a personal attribute that supports situational awareness and enhances an individual's ability to get a job done. The term soft skills is often used as a synonym for people skills or emotional intelligence.

  • software license

    A software license is a document that provides legally binding guidelines on the use and distribution of software.

  • stakeholder

    A stakeholder is a person or group who has an interest -- vested or otherwise -- in an enterprise and whose support is required in order for an enterprise to be successful.

  • startup accelerator

    A startup accelerator, sometimes referred to as a seed accelerator, is a business program that supports early-stage, growth-driven companies through education, mentorship and financing.

  • startup company

    A startup company is a newly formed business with particular momentum behind it based on perceived demand for its product or service.

  • startup culture

    Startup culture refers to how people within a new business, or startup, work together.

  • steering committee

    A steering committee is a group of high-level advisors who have been appointed to provide an organization or project with direction.

  • strategic innovation

    Strategic innovation is a company's process of reinventing its corporate strategy to encourage growth, create value for the company and its customers, and gain competitive differentiation.

  • strategic leadership

    Strategic leadership is a practice in which executives, using different styles of management, develop a vision for their organization that enables it to adapt to or remain competitive in a changing economic and technological climate.

  • strategic management

    Strategic management is the ongoing planning, monitoring, analysis and assessment of all necessities an organization needs to meet its goals and objectives.

  • strategic planning

    Strategic planning is the process executives undertake in order to make thoughtful decisions about their organization’s mission, values and goals, and properly allocate resources to fulfill those directives.

  • sunk cost (SC)

    A sunk cost is money that has already been spent and cannot be recovered. Logic dictates that because sunk costs will not change -- no matter what actions are taken -- they should not play a role in decision-making. Emotionally, however, the more someone invests time, effort and money on something, the harder it becomes to leave it and move on.

  • SWOT analysis (strengths, weaknesses, opportunities and threats analysis)

    SWOT analysis (strengths, weaknesses, opportunities and threats analysis) is a framework for identifying and analyzing the internal and external factors that can have an impact on the viability of a project, product, place or person.

  • T

    technology ethics

    Technology ethics (tech ethics) is a field of study that seeks to understand and resolve moral issues that surround the development and practical application of mechanical and electronic technology.

  • think tank

    A think tank is an organization that gathers a group of interdisciplinary scholars to perform research around particular policies, issues or ideas.

  • thought leader (thought leadership)

    A thought leader is a person who or organization that is widely recognized as an expert in a given field and whose opinions are in high demand. Thought leaders use their influence to change their fields, to make money and to add value to the people and organizations that seek their expertise.

  • threat hunter (cybersecurity threat analyst)

    A threat hunter, also called a cybersecurity threat analyst, is a security professional or managed service provider (MSP) that proactively uses manual or machine-assisted techniques to detect security incidents that may elude the grasp of automated systems.

  • transactional leadership

    Transactional leadership is a leadership style where the executive relies on rewards and punishments to achieve optimal job performance from his or her subordinates.

  • transformational leadership

    Transformational leadership describes the ability of an organization's management to foster significant change, often by leveraging new technology.

  • U

    unsourcing

    Unsourcing is the transfer of an organization's customer service and support functions from paid employees to unpaid or low-paid online communities.

  • UX (user experience)

    User experience (UX) encompasses all aspects of an end user's interaction with and attitude toward a given IT system or services, including the interface, graphics and design.

  • V

    value innovation

    Value innovation is the implementation of upgrades or new technologies designed to help a company differentiate its products or services while lowering costs.

  • value proposition

    A value proposition is a statement that clearly identifies the benefits a company's products and services will deliver to its customers.

  • vendor management office (VMO)

    A vendor management office (VMO) is an internal unit within an enterprise that is charged with evaluating third-party providers of goods and services, supervising day-to-day interactions and managing longer-term relationships.

  • vendor risk management (VRM)

    Vendor risk management (VRM) is a comprehensive plan for identifying and decreasing potential business uncertainties and legal liabilities regarding the hiring of 3rd party vendors for IT products and services.

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