At this point few, if any, would believe that senior leadership of organizations - CEO, Board etc. - do not realize that information technology (IT) is a strategic weapon. The know it. The problem is they do not know how to use it.
Overdependence on CIOs has not helped the cause of either party. CIOs themselves have been technical tacticians - great at building but not so great at knowing what to build i.e. planning ahead. CEO and the board have laid the blame of their lack of expertise in IT Strategy at the footsteps of the CIOs - because someone has to take the blame and they are in a position to assign it to the chump!
So what is the imperative for the CIO? Educate your CEO and the board on IT. Don't get me wrong, you will always be the fall guy but through this concerted effort you can reduce the chances of failure - disconnect between business and IT is for real; it is even worse between the CIO and the CEO and the board.
This study finds that "Many corporate boards now consider IT to be an untapped mine rich with possibilities for their companies’ future results." However, they do not know how to deal with "IT issues within the context of the board’s role and how to grapple with IT’s inherently complex nature and rapid pace of change."
The value of this study, however, is in the "eight big ideas" that will help solve this problem.