Much has been written about the need for IT to develop a deeper understanding of business. For the past decade, CIOs have been urged, coaxed, counseled and exhorted to act more like CEOs, chief financial officers (CFOs), chief operating officers (COOs), and other C-level executives.

I’m not going to argue about the wisdom of that advice. But I’m going to suggest that it’s only half the story. The other half, the piece that is usually missing from conversations about innovation, competitiveness and the opening new markets is this: It is time for business to learn more about IT.

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