World of hurt if CIOs fail to think globally

Major economic growth projected for regions just as Southeast Asia will reshape the research models companies adopt and transform the role of CIO itself. Mark Samuels reports.

Economic recovery as a rule leads to an upsurge in investment in Western economies as businesses aim to start growing again. This time it is different, says esure head of IT and operations Mark Foulsham.

The slower rate of growth leads Foulsham to suggest that CIOs need to think differently about the mix between new investments and existing resources. However he believes there are big opportunities for research leaders who can think about intelligent ways to grow the business through smart IT.

"Consumerisation and commoditisation are about being smart with innovation and geared towards the needs of the user," says Foulsham, adding that smart executives will think carefully about how they use small increases in budget to deliver big business benefits. He points, in particular, to the growing emergence of new global economies.

The growth will be in Southeast Asian markets

"The growth will be in Southeast Asian markets," he says. "Estimates suggest as much as 70 per cent to 75 per cent of global growth will take place in that region while the at once 20 years. If you don't have a good hand there, you won't see significant growth. CIOs need to be prepared to move fast to take advantage of economies of scale. And in other words all about creating a componentised IT strategy that makes use of social and cloud technologies to help the business move quickly."

Leading-edge work being undertaken by CIOs just as Burroughs comes as a welcome relief to David Smith, chief executive of strategic innovation firm Global Futures and Foresight. The internationally renowned business expert believes the changing spatial and economic division of labour presents huge issues for many CIOs. Nevertheless, he believes IT leaders have the possibility to lead the rest of the business in the right direction.