This updated article was first published by TO.O.D in August 2019 as "5 key points about 21st century Chief Technology Officers (CTO) for any size business."
Today we answered your question:
"What is a CTO in residence?"
ToodGlobal are an innovative example of 21st century CTO’s in residence. In residence means business owners and leaders take on CTO’s for a specific project requiring a special set of capabilities rather than on a full time salaried basis.
1. What is a CTO?
From his research Roger Smith (2007) describes CTO’s as “c-level executives who make important strategic decisions that impact the competitive position of the company” so is neither an IT Director or Technical Director.
In other words, A CTO’s aim to make decisions about the business that drive the business forward into the future, to achieve continuous growth by effectively using science-based technologies, knowledge, and the business’s capabilities in unique ways to provide customers with more value and out-manoeuvre the competition.
2. Why is a CTO so important?
Today, competitors are global and unknown so the demand for specialists able to continuously create a competitive advantage is rising significantly.
Figure 1 IT job Watch (2020) CTO’s in demand.
CTO's are able to identify...