Chief Technology Officer, is an executive-level position in a company or other entity whose occupant is focused on scientific and technological issues within an organization. It typically involves overseeing Research and Development (R&D) activities, and formulating long-term visions and strategies at the officer level. Essentially, a CTO is responsible for the transformation of capital - be it monetary, intellectual, or political - into technology in furtherance of the company's objectives. They typically combine a strong technical or scientific background with business development skills.