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CEOs increasingly depend on technology as a central means of staking competitivepositions, and that shift has made CIOs increasingly well-suited for the job. Consider Tim Buckley, at Vanguard; Tim Spence, at Fifth Third Bank; or Jason Buechel, at WholeFoods. Yet such transitions are still the exception rather than the norm.
This requires evaluating competitors’ strategies; identifying strengths, weaknesses, and opportunities; and leveraging insights from the competitive market analysis team or similar teams within the organization. This collaborative approach helps refine the strategy and build alliances, ensuring that it receives support from top management.
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