In the current economic climate, Milholland says that “leaders must have a fundamental understanding of business strategy. … Every company … is focused on improving efficiency and reducing costs. This puts an even greater premium on innovation — coming up with new ideas to get more out of existing IT investments.” Milholland says IT executives need to learn several lessons from the economic downturn. “First, have a flexible process and systems investment plan in place. Second, ensure your plan is continuously aligned with your company’s business strategy. Third, make your plans scalable to business cycles. Fourth, be sure the people on your team understand the language of business — not just IT,” he says. — E.E. Return to InfoWorld’s 25 Most Influential CTOs 2002 Software Development