The View From Here: Communications During a Crisis
October 15, 2008
The market uncertainty of the last few months – which culminated in the dramatics of the past two weeks – drives home the need for IT and the CEO and CFO to communicate effectively.
CEOs, CFOs and CIOs have to be on the same page about which projects are vital and which can be put on the back burner. The impact of ROI calculations on whether a project goes forward or not certainly changes as the financial position of the company changes. The CIO must be part of this ongoing conversation.
Procedures must be in place to consider long-term projects and day-to-day needs in the shadow of slashed budgets, an acquisition or even bankruptcy. The interpretation of what a company must do to live up to its due diligence obligations is impacted by the economic landscape in which the company exists. The IT department has to do its job in this fluid environment, so the CIO must have a deep understanding of precisely what is going on.
It also is true that a lot of people are losing their jobs. Clearly, extraordinary security steps must be taken. Data must be guarded more closely than usual simply because the temptation to steal and sell it will be greater. Laid off technicians will be tempted to maliciously monkey with equipment and networks. The CIO must keep the business heads of the organization up to speed on efforts to deal with an angry and frightened workplace.
The bottom line is that we are not in a period that anywhere approximates business as usual. CIOs and their staffs must strengthen the lines of communications with the CFO and CEO. Doing so will increase the chances of the company’s survival.
–Carl Weinschenk
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--Carl Weinschenk
[...] week, I blogged about the need for clear communications between the IT and business departments during the financial crisis. The bottom line is that chaotic economic times require close [...]