Amid economic changes, digital disruption, new competitors forming overnight from M&A, escalating customer demands, and shifting employee attitudes, adapting is more critical than ever. Don’t follow in the footsteps of Sears, Toys R Us, Bed Bath & Beyond, WeWork, Yellow Freight, MoviePass, Jenny Craig Inc., and others who struggled to keep up with change.
McKinsey reports that only 11% of 1,140 executives think their business models will last through 2023, while Korn Ferry reveals that 1,760 CEOs believe their companies will have a decade or less of economic viability.
A “business as usual” approach is not enough to prepare for the future. To thrive, companies need the right strategy, impeccable execution, and a continuous investment in people and culture. Let these five steps help guide your journey.
As you reflect on your company’s unique value, consider this, “While 80% of executives believe their offerings are unique, only 10% of their customers agree.” – James Allen, Booz Allen co-founder.
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