Survive and Thrive in 2025

In this inspiring episode of Breakfast Bytes, Felicia King delves into the pressing strategies businesses need to adopt to thrive in the year 2025. With intriguing insights, Felicia articulates why companies must stay competitive and adapt to the ever-changing landscape—focusing on the integral role of a Chief Technology Officer and the imperative cultural shift towards continuous staff training.

Felicia sheds light on the complexity of finding competent talent, the importance of establishing and enforcing effective policies, and the necessity of blending technology with human oversight. She compellingly emphasizes that regardless of workforce demographics, training needs to become a staple and an evaluated performance metric.

The episode is rich with anecdotes and expert advice, warning against the risks of ignoring technological and cultural progression, even as it highlights the detrimental impact of inadequate policy management and technical incompetency in various sectors. Felicia’s narrative provides actionable insights into aligning your organizational structure for maximum efficiency and effectiveness in the looming future.

Quick recap

Felicia King emphasized the importance of having a Chief Technology Officer (CTO) and a cultural shift towards ongoing training for staff to ensure compliance and productivity in businesses. She also stressed the need for effective utilization of technology, data classification, and vendor risk assessments, and warned against the lack of technical aptitude and security capabilities in marketing agencies. Lastly, she highlighted the importance of executive management teams taking an active role in managing risks and issues within their organizations, and the need for strategic adoption of technology and operational maturity.

   

Next steps

• Executive management team to establish a partnership with a qualified CTO/CISO for strategic technology guidance and risk management.

• HR/Leadership to implement a mandatory ongoing training program for all staff, with accountability measures tied to performance evaluations.

• IT team to develop and maintain a risk register and project backlog, with monthly budget allocation for addressing identified issues.

 

Summary

Surviving 2025: CTOs, Training, and Payroll

In the meeting, Felicia King discussed the key factors for businesses to survive in 2025. She emphasized the importance of having a Chief Technology Officer (CTO) to provide leadership and guidance on technology and policy matters. Felicia also stressed the need for a cultural shift towards ongoing training for staff, regardless of age, to ensure compliance with company policies and improve productivity. She warned against the misconception that a younger workforce automatically solves these issues. Felicia concluded by urging businesses to view their payroll as their primary inventory and to efficiently utilize it to avoid wasting resources.

   

Lack of Training and Policy Enforcement

Felicia shared a scenario where despite providing extensive training, staff members failed to use a technological system effectively due to a lack of enforced policy and cultural shift. She emphasized that if a manager had advocated for a policy and cultural shift, the staff could have taken just 15 minutes a few times a week to move the needle on their problem. However, because the manager did not prioritize training, the staff did not read the instructions and missed out on efficient use of the system. Felicia concluded that if everything else is secondary to sales, as the manager had told the staff, then training is not considered important.

   

Respecting Employers and AI Implementation

Felicia emphasized the importance of respecting employers, coworkers, and company policies for efficient technology utilization. She highlighted the need for understanding best practices and avoiding unnecessary tech support requests. Felicia also stressed the importance of data classification, retention, and policy management systems for AI usage and adoption. She underscored the necessity of a combination of policies, training, technical controls, and accountability to ensure successful implementation and utilization of AI in 2025.

   

Marketing Agencies' Technical Limitations

Felicia expressed her belief that marketing agencies struggle to execute effective marketing services due to a lack of technical aptitude and security capabilities. She attributed this to the agencies' refusal to hire qualified CTOs or CSOs, and their lack of technical training. As a result, they lose business due to ineffective marketing strategies and poor security practices.

   

Vendor Risk Assessments for All

Felicia discussed the importance of vendor risk assessments, highlighting that they are not only relevant to tech companies but also to law firms, accounting firms, medical offices, and investment brokerages. She mentioned that her company, QPC Security, offers vendor risk assessments and counterparty risk assessments, with a baseline cost of $300. Felicia emphasized that failing a basic vendor risk assessment can indicate serious issues within an organization's IT infrastructure.

   

Addressing Competence in Organizations

Felicia expressed her concerns about the lack of competence in various organizations, regardless of their size. She cited examples of IT service providers and larger companies where the collective intelligence of the employees was insufficient to identify and address public-facing security risks. Felicia emphasized the importance of having competent professionals in IT roles and the need for executive management teams to surround themselves with objective, knowledgeable advisors rather than yes-men. She concluded by urging the need for deep paradigm shifts in 2025 to remain competitive.

   

Maintaining Risk Register and Project Backlog

Felicia discussed the importance of maintaining a risk register and project backlog, and the need for organizational commitment to allocate time and budget for these tasks. She emphasized the necessity of regular meetings with the designated CTO and CISO, ideally quarterly or monthly, to discuss planning and initiatives. Annual meeting frequency is insufficient. Felicia also suggested a SWAG number approach for budget allocation, with the goal of completing a certain amount of work each month to address issues on the project backlog and risk register. She stressed the importance of teamwork and collaboration in managing these tasks.

   

Executive Management's Active Risk Role

Felicia emphasized the importance of executive management teams taking an active role in managing risks and issues within their organizations. She warned against the practice of delegating and abdicating responsibilities, which often leads to poor decision-making and unresolved problems. Felicia shared an example of a client who finally resolved a long-standing issue after the CEO took the time to have a crucial discussion. She stressed that the executive management team should be willing to have meetings and be informed about risks, even if they don't become experts in the subject matter.

   

Strategic Risk Management and Technology

Felicia discussed the importance of managing risk and adopting technology strategically. She emphasized the need for a policy and standard around printer technologies, as well as the adoption of wireless technologies, to avoid interference and reliability challenges. She stressed the importance of operational maturity and the need for a partnership with a CTO to achieve this. Felicia also warned that failure to make cultural shifts, adopt AI correctly, and implement technical controls could lead to a loss of competitiveness and potentially even business closure by the end of 2025.