Technical Debt and its Consequences

“Wayne Sadin on Digital Strategy” episodes explore the
fast-changing and high-stakes world of digital business. We focus
in particular on what CEOs and boards must do to lead their
companies successfully into the Digital Age. Today, we talk
frankly about the recent Capital One data breach, whether AWS
bears any responsibility for it, and how companies of all sizes
should be thinking about security and the cloud.


Episode 8


In this episode Wayne and I discuss technical debt. I ask him is
this technical debt in the financial sense of debt – or is it
because you haven’t made the investments to keep up with modern
technology? Wayne says it’s the latter. He says technical debt
keeps you from delivering and executing on all the business
strategies that leaders want and need.


Wayne quotes a CEO as saying, “My Windows XP computer boots up
every day, so what’s wrong?” He compares it to a P-51 Mustang
fighter plane from WWII. Yes, Wayne says, you could do that – but
if you go head-to-head against a Chinese MiG, who would win?
Hackers, he says, are flying MiGs.


Wayne goes on to say that Russell Reynolds coined the term “QTE,”
which stands for qualified technology executive – an individual
possessing a high degree of current technology-relevant domain
experience. It was modeled after the Sarbanes-Oxley QFE – a
qualified financial expert.


Finally, he puts a plug in for the Digital Directors Network run
by Bob Zuckis at USC. Membership is free for board-qualified
technology and cybersecurity experts and corporate directors who
want to develop their digital diversity skills in the corporate
boardroom.


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