A CEO demands dramatic change. A CIO responds. An uncomfortable silence descends

An exercise in mutual frustration is being repeated in boardrooms around the world. It plays out as follows: a CEO demands dramatic change. Within two to three years, he argues, the company must cut its time to market, boost efficiency, and offer more customized service. In all of this, of course, new information systems will play a crucial role. But the head of Information Technology—the CIO—responds to these proposals by explaining that the required systems changes cannot be completed in less than five to seven years. When questioned, the CIO also admits that the new systems will not be any easier to change than the existing ones. An uncomfortable silence descends.

It is no wonder that CEOs are frustrated: CIOs seem permanently in study mode. Adrift in the possibilities of their profession, they endlessly draft business process redesigns, "re-invent" the corporation, fly to priority-setting meetings, and benchmark the competition. Somehow—amid all this activity—not a single line of durable code gets written. And not a single concrete deadline gets committed to, let alone met. How can I, each CEO...