Essential Business Concepts Tech Leaders Must Understand

As seen on Forbes.com

Tech leaders are increasingly being called upon to collaborate closely with the C-suite to shape overall business strategies and decisions. To do this effectively, they must not only understand the significant impact of technology on organizational operations and growth but also be able to articulate its importance clearly.

A comprehensive grasp of fundamental business concepts and metrics, the ability to communicate effectively with other leaders, and a commitment to discovering new ways to enhance team efforts through technology are all crucial aspects of a tech leader’s role in today’s digital landscape. In this post, 19 members of Forbes Technology Council, including Ascendle’s Dave Todaro, share the essential business concepts every tech leader should understand and why they are so important.

A Focus On Outcomes

“Today, more than ever, the C-suite is focused on one thing: “What am I getting for my money?” Conversely, too many tech leaders—especially in software development—have a wishy-washy answer. “The new release is coming along and should be ready in a few months” doesn’t instill confidence. Tie your team’s work directly back to strategic initiatives, and focus on outcomes instead of outputs.” – Dave Todaro