The document discusses the changing role of the CIO. It notes that business demands are increasing while IT budgets are flat, and that CIOs must focus on both running IT operations and enabling business change. To succeed, CIOs need business knowledge, executive support, communication skills, and the ability to select projects that balance quick wins with long-term impacts. The document recommends CIOs optimize costs through services like cloud computing and outsourcing, create IT strategies aligned with business goals, and develop expertise in change management to help business processes change before implementing new technologies.