Episode 4
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Kulvinder: Welcome to another episode of Tech Exec Talks, where we dive into the world of technology, leadership, and innovation. I'm your host, Kulvinder, and today we're doing something a little bit different. It's the first solo episode, so do let me know what you think. Now, earlier in my career, there weren't many resources available to help me create or structure a technology strategy that made it difficult to know where to start or what to prioritise.

Kulvinder: However, over the years, I've learned a lot and through experience and trial and error, I'm excited to share some of those insights with you today. In this episode, we're gonna explore something that I've been working on for a little while called the Technology Strategy Canvas. Now, I'm sure many of you're familiar with the Business Model Canvas, which is a great visual tool for articulating business models.

Kulvinder: And if you're not, I'll include a link in the show description, but what about technology strategy? That's where the Technology Strategy Canvas comes in. It helps us organize, visualize, and communicate the key components of our technology strategy. I'll include a link to a Canvas template in the show description, which you're free to use under the [00:01:00] Creative Commons license.

Kulvinder: As we go through each component of the canvas, I'll share my thoughts, experiences, and tips for maximizing the value of this tool. And remember, the canvas is flexible, so feel free to adapt it to your own organization's needs. So let's kick things off with the first component of the Technology Strategy Canvas.

Kulvinder: And that's the Technology Vision. Now, when I say vision, I want you to think big picture. This is about setting the North star for your technology function, the guiding light that sets the direction for everything that you do. You see, the technology vision is all about articulating where you want to go and how technology will play a role in getting you there.

Kulvinder: It's about answering the question, what's the future we're striving towards, and how does technology fit into that future? And you know what? This is not just about tech itself. It's about how technology enables and empowers your organization to achieve its strategic goals. It's about creating positive impact, driving innovation, and ultimately delivering value to your customers and stakeholders.

Kulvinder: So when you're crafting your technology vision, I want you to think long term, [00:02:00] go beyond the immediate challenges and opportunities, and paint a picture of the future that inspires you and motivates your team. Because at the end of the day, a compelling vision is the one that resonates with people and brings them together.

Kulvinder: Now, in my experience, a great technology vision is clear, concise, and actionable. It's not just a lofty statement, but rather a vision that provides direction and a sense of purpose. It aligns with the broader mission of your organization and serves as a foundation for your technology strategy. So take a moment to reflect on your technology vision.

Kulvinder: What does it look like? How does it connect with your organization's values and objectives? And most importantly, how does it inspire your team to drive meaningful change? 

Kulvinder: Let's move on to the next component of Technology Strategy Canvas. And that's Value Proposition. technology's not just about bits and bites.

Kulvinder: It's about delivering real value to our organization and to our customers. So the value proposition is all about defining the unique value that your technology function brings to the table. What are the benefits and advantages that technology provides? [00:03:00] How does it differentiate your organization and give you that competitive edge?

Kulvinder: When I think about value, I think about solving problems and meeting needs. I think about creating opportunities and enhancing experie. And as a technology leader, we have a unique opportunity to drive value through innovation and digital transformation. Now, here's the thing. Your value proposition should go beyond just a list of features or capabilities.

Kulvinder: It should speak to the impact and the outcomes that you deliver. It should connect with your stakeholders and resonate with their goals and aspirations. In my experience, a strong value proposition is one that's customer-centric and outcome focused. It's about understanding the needs of your customers, both internal and external, and driving technology solutions that address those needs. So take a moment to reflect on your value proposition. What makes your technology function unique? How do you create value for your customers, your partners, and your organization as a whole? And most importantly, how do you communicate that value in a way that drives engagement and alignment?

Kulvinder: So we've [00:04:00] talked about vision. We've talked about value, and now it's time to drive into the nuts and bolts, literally. So let's explore the next component of Technology Strategy Canvas, Key Technologies. Key technologies are the core technologies and platforms that underpin your technology strategies.

Kulvinder: They're the building blocks that enable you to deliver on your value proposition and achieve your technology vision. Now, when we talk about key technologies, we are not just looking at what's in place today. We're also keeping an eye on emerging technologies and trends that could shape the future, whether it's ai, blockchain, or something else entirely.

Kulvinder: Staying ahead of the curve is key to maintain that competitive. In my experience, technology needs need to strike that balance between leveraging proven technologies and experimenting with new and innovative solutions. It's about finding that sweet spot where stability meets agility, where reliability meets creativity.

Kulvinder: So as you reflect on your key technologies, think about the technology stack that powers your organization. What are the critical technologies that [00:05:00] drive your operations and support your products and services? And just as importantly, what are the emerging technologies that have the potential to disrupt and transform your industry?

Kulvinder: Now here's a little tip. When evaluating technologies always keep the customer in mind. How do these technologies enhance the customer experience? Solve customer problems and create value for your stakeholders. Because at the end of the day, technology is just a means to an end, a tool to deliver value and drive impact.

Kulvinder: It's important to remember, because you can quite easily go towards the bleeding edge and you need to be careful. 

Kulvinder: All right, let's keep the ball rolling. and let's dive into the next component of Technology Strategy Canvas -Key resources. Behind every great technology strategy, there are critical resources that make it all possible.

Kulvinder: These resources provide the foundation for executing your technology initiatives and achieving your desired outcomes. So what are we talking about when we say key resources? Well, it's a broad category that includes everything from people such as your talented team members and their unique [00:06:00] skill sets to physical assets like hardware and infrastructure.

Kulvinder: It also encompasses intellectual properties such as patterns, trade secrets, and software code. The key here is to identify the resources that are crucial to your technology function. What do you need to succeed and how do you allocate and manage those resources effectively? In my experience, technology leaders need to be strategic and intentional about resource allocation, it's about making tough decisions, prioritizing investments, and ensuring that you have the right resources in the right place at the right time. And let me tell you, it's not just about having access to resources, it's also about optimizing and maximizing their value. It's about building synergies, leveraging economies of scale, and driving efficiency across your technology function.

Kulvinder: So take a moment to reflect on your key resources. What are the critical assets, capabilities that underpin your technology strategy. How do you manage and deploy those resources to deliver on your value proposition and achieve your technology vision? Because at the end of the day, resource is the fuel that powers your technology engine.

Kulvinder: They're the enablers [00:07:00] that drive innovation, create value, and propel your organization forward. 

Kulvinder: So now we come onto a component that's all about action and execution. We're talking about Key Activities. Key activities are the main activities and processes that you need to execute your technology strategy.

Kulvinder: These are the things you do on a day-to-day basis to deliver on your value proposition, drive innovation, and achieve your technology vision. Now, when we talk about key activities, we're looking at everything from research and development to technology, deployment and maintenance. We're considering how you manage projects, deliver solutions, and collaborate with cross-functional teams.

Kulvinder: Here's the thing, every organization's different. The key activities for a tech startup might come look completely different from those at a large enterprise. It all depends on your unique context, your goals, and your technology strategy. Again, in my experience, successful technology leaders are intentional about defining their key activities.

Kulvinder: They'll have a clear understanding of what needs to be done and how to do it effectively. They're able to [00:08:00] prioritize, delegate, and align activities with strategic objectives. So take a moment to reflect on your key activities. What are the critical processes and tasks that drive your technology function? How do you ensure that these activities are aligned with your technology, vision, and value proposition?

Kulvinder: And more importantly, how do you create a culture of accountability, ownership, and continuous improvement? Cause at the end of the day, it's not just about what you do, it's about how you do it. So that brings me on nicely to Key Partnerships, which is a component that's all about collaboration and synergy.

Kulvinder: You see, in the world of technology, no organization is an island. We all rely on partnerships, alliances, and collaborations to achieve our goals and deliver value, and that's what key partnerships is all about. Identifying those external relationships that support and enhance your technology strategy. So who are your key technology partners?

Kulvinder: Are there vendors, suppliers, service providers that play a critical role in the technology ecosystem to collaborate with research [00:09:00] institutions, industry associations, or other organizations to drive innovation and knowledge sharing? In my experience, successful technology leaders recognize the power of partnerships.

Kulvinder: They understand that by collaborating with others, they can access new resources, tap it to specialize expertise, and unlock new opportunities. And it's not just about what your partners can do for you, it's also about what you can bring to the table. It's about creating win-win relationships that deliver mutual value and drive positive outcomes.

Kulvinder: So have a think about your key partnerships. What are the strategic relationships that support your technology function? How do you nurture and manage those partnerships to ensure they thrive and deliver value? And most importantly, how do you build trust, alignment, and collaboration with your. Because at the end of the day, partnerships are all about people, relationships and shared goals.

Kulvinder: So look, as we continue to navigate the Technology Strategy Canvas, we come to a component that's all about putting your money where your mouth is, Investment [00:10:00] and Resources. Executing a winning technology strategy requires thoughtful and strategic investment.

Kulvinder: It's about in allocating resources, both financial and non-financial to support your technology initiatives and achieve your desired outcomes.

Kulvinder: So what are we talking about when we say investment resources? Well, it's about technology, budgeting, prioritization, and allocation. It's about deciding where to invest your capital, your time, and your effort to maximize value and impact. And I can tell you these decisions are always easy. As technology leaders, we often face tough trade-offs and competing priorities.

Kulvinder: We need to strike a balance between short-term needs and long-term goals between innovation and stability. In my experience, successful technologies are transparent and data driven. In these investment decisions, they use metrics, benchmarks, and insights to make informed choices. They communicate clearly with stakeholders and align investments with strategic objectives.

Kulvinder: So just take a moment, have a think about your investment and [00:11:00] resources. How do you allocate resources, support your technology strategy? What criteria are you using to prioritize investments and make trade? Most importantly, how do you ensure that your investments deliver a strong return on investment and drive meaningful outcomes?

Kulvinder: Because at the end of the day, it's about making every pound, or dollar, every hour, and every resource count. 

Kulvinder: Now, moving right along, let's talk about customers, uh, and Customer Segments specifically. 

Kulvinder: Now, soon as I say that you might be tempted to think that you don't directly interact with. We see at the hub, every successful technology strategy are the customers and stakeholders who benefit from it.

Kulvinder: These, the individuals and groups whose needs preferences and goals shape your technology roadmap and drive your innovation efforts. So when we talk about customer segments, we are looking at both internal and external customers. These could be business units within your organization, end users of your products and services, or external partners and stakeholders who rely on your technology solutions.[00:12:00] 

Kulvinder: Every customer segment is unique. They all have different needs, different pain points, and different expectations. As a leader, it's our job to understand those nuances and deliver technology solutions that resonate. In my experience, successful leaders are customer-centric in their approach. They listen to customer feedback, engage in meaningful dialogue, and prioritize customer satisfaction.

Kulvinder: They use data and insights to make informed decisions and drive customer-centric in. Have a think about your own organization. Who are the key customers and stakeholders that benefit from your technology strategy? How do their needs and goals shape your technology initiatives? And most importantly, how do you build strong relationships with your customers?

Kulvinder: Earn their trust and deliver value that exceeds their expectations. Because at the end of the day, technology is a means to an end, a tool to create positive experiences and drive customer success.[00:13:00] 

Kulvinder: So we're gonna come on to now a subject that is extremely important. People. 

Kulvinder: Technology is powered by people, talented individuals who bring their skills, expertise, and passion to the table. That's why we're diving into this component and it's simply just called People. The people component is all about the key roles, talent and skillsets needed to execute your technology strategy, start building and nurturing a high performing technology team that can drive innovation, deliver value, and achieve your.

Kulvinder: And when we talk about people, we're also talking about the culture, attributes of values within the technology function span. Creating an environment where people feel empowered, engaged, and inspired to do their best work. I think any leader be in technology or not are people-centric in their approach.

Kulvinder: They lead by example, foster culture of collaboration and invest in the growth and development team members, be it through a career engineering framework or through setting up hackathons. So [00:14:00] when you talk about people have a think, what are the key, uh, key roles and skills that drive your technology function?

Kulvinder: How do you attract, retain, and develop top talent in a competitive market? And most importantly, how do you create a culture that values diversity, inclusion, and innovation? Because at the end of the day, people are the heart and soul of your technology function. They're the driving force behind your success.

Kulvinder: So that brings me neatly onto ways of working. The ways of working components, all about how your organization approaches technology, development and delivery. It's about the methodologies, processes and practices that shape how you work, collaborate, make decisions, whether using Agile, lean, waterfall, or any other kind of methodology.

Kulvinder: It's important to create environment that fosters collaboration, effective communication, and efficient decision making. Is there a one size fits all in terms of ways of working? No. Every organization's unique and what [00:15:00] works with one may not work for another. Key is to find an approach that aligns with your goals, your culture, and your technology strategy.

Kulvinder: Again, in my experience, successful leaders are adaptable, agile in their ways of working. They embrace change, encouraging experimentation, and foster a culture of continuous improvement. They empowered their teams to take ownership, collaborate, and deliver. So just take a moment reflects on your ways of working.

Kulvinder: How does your organization approach technology development? How do you manage projects, set priorities, and make decisions? And most importantly, how do you create a culture of trust, transparency, and accountability? 

Kulvinder: Because at the end of the day, your ways of working are a reflection of your values, your principles, and your commitment to excellence.

Kulvinder: Okay, so let's now move on to an aspect that can be overlooked, but is absolutely critical, which is Risks and Mitigation. The world of technology is ever changing, and with that comes risk and uncertainties. That could be anything from cybersecurity threats and [00:16:00] data breaches to regulatory compliance and project delays.

Kulvinder: The risks of mitigation component is all about proactively identifying, assessing and managing the potential risks associated with your technology. About building resilience and ensuring that you're prepared to respond effectively when challenges arise. I think technology leaders don't shy away from risks.

Kulvinder: They tackle them head on using a systematic and data-driven approach. They assess the likelihood and impact of risks, prioritize mitigation efforts, and establish contingency plans. So have a think about your own risks and mitigations as well. You know, what are they? What are the risks and challenges that could impact your technology function?

Kulvinder: How do you manage and mitigate those risks? Do you do business continuity testing? Do you do penetration testing and that sort of thing. So you must. Foster a culture of risk awareness, and risk ownership both within your team and more broadly. Because at the end of the day, effective risk management is a team effort.

Kulvinder: It requires collaboration, communication, [00:17:00] and a shared commitment to protecting your organization and its stakeholders. Okay, so we're nearly at the end of the journey with the Technology Strategy Canvas, let's turn our attention to a component that's all about measuring success, Success Metrics and SLAs. 

Kulvinder: You see, setting a technology strategy is one thing, but how do we know if we're on the right track?

Kulvinder: How do we measure the effectiveness of our technology initiatives and ensure that we're delivering real value? That's where success metrics and SLAs service level agreements come into play. They're key performance indicators, metrics and agreements that help us gauge our progress, assess our performance, and drive accountability.

Kulvinder: Success metrics might include things like technology adoption rates, innovation metrics, and customer satisfaction scores. SLAs, on the other hand, define the expected level of service and performance, both internally and externally. So as a technology leader, you need to be data driven and results [00:18:00] oriented.

Kulvinder: You need set clear and measurable level objectives, monitor performance, and use data to make informed decisions, be transparent with stakeholders and committed to continuous improvement. So within your own organization, with your own technology strategies, what are the key indicators that measure the success of your strategy?

Kulvinder: How do you track reporting metrics to ensure transparency and alignment? And most importantly, how do you use those metrics and SLAs to drive positive outcomes and enhance the customer experience? Because at the end of the day, technology's all about delivering value, exceeding expectations, and driving impact.

Kulvinder: Last, but certainly not least on Technology Strategy Canvas is a component that's essential to every technology function, Cost Structure. The cost structure component is all about understanding the major costs associated with implementing and maintaining your technology strategy. This includes everything from research and development expenses to infrastructure costs, licensing fees, and personnel costs.

Kulvinder: As technology leaders, we need to be mindful of how we allocate our [00:19:00] resources and manage our. It's about striking the right balance between investing innovation and maintaining operational efficiency. Successful technology leaders are strategic and transparent about cost management. They engage in budgeting and forecasting, align costs with strategic priorities, and communicate clearly with stakeholders about financial decisions.

Kulvinder: So take a moment to reflect on your cost structure. What are the major costs to say to you? We're associated with your technology. How do you manage and optimize these costs to maximize value and drive positive outcomes? And most importantly, how to ensure that your technology investments deliver a strong return on investment.

Kulvinder: Because at the end of the day, it's about making smart financial decisions that support your technology vision and create a lasting impact. 

Kulvinder: And there you have folks, we've taken a comprehensive journey through the technology strategy canvas, exploring each of its key components, discussing how it can help you shape and communicate your technology strategy.

Kulvinder: From setting a clear technology vision to managing risks and mitigation [00:20:00] to measuring success with metrics and SLAs, the Technology Strategy Canvas is a powerful tool that can help you navigate the complex and ever-changing world of technology. Remember, your strategy is important and helps guide your organization, but the one constant about business is change, and it's important to remember to apply pragmatism and flexibility as required too. 

Kulvinder: As we wrap today's episode, I wanna encourage each of you to take what you've learned and apply it to your own technology function, whether you are a season tech exec or an aspiring leader. I hope this episode has provided some value, insights, and inspiration. And again, as a reminder, there's a link to the Canvas template in the show description.

Kulvinder: Remember, technology's more than just tools and gadgets. It's about empowering people, driving innovation and creating positive impact. Do let me know if you'd like to see an example of the Technology Strategy Canvas and also whether you've enjoyed this as a solo episode or not. I'm Kulvinder, and this has been another episode of Tech Exec Talks.

Kulvinder: Thank you so much for joining me today, and I look forward to [00:21:00] our next conversation. Until then, stay curious.