Small business keys from Global Titans

I recently read the IBM Global Survey of CEO’s  The report is a result of personal interviews with over 1500 CEO’s throughout the world. The report summarized three major themes that these CEO’s indicated would be essential to Capitalizing on Complexity. Some of the insights from this study can be applied to businesses of all sizes. If you think that the world is becoming more complex and challenging you’re in good company. 8-10 CEO’s expect the business environment to grow significantly more complex, and only half believe they know how to handle it.

 

They are frustrated by the fact that the amount of information their companies need to consider is overwhelming, and have the feeling they are “data rich and insight poor”, and are challenged with transforming the available data to feasible plans and actions. They indicated that they need to be able to have employees’ performance analysis and plans that would allow they to “predict and act” not just sense and respond. The report summarized three main themes that organizations needed to forucs on in order to stay competive. They were:

1. Embody Creative Leadership
2. Reinvent Customer Relationships
3. Build Operational Dexterity

By creative leadership they mean the ability to embrace ambiguity while taking risks that disrupt legacy business models. To have the objective of “leapfrogging the tried and true management styles.” Reinventing customer Relationships is all about being more intimate with the customer so you can been in sync with their wants and needs. And operational dexterity is about simplifying whenever possible, while promoting a mindset of being fast and flexible. 

Although this summary report was based on interviews with CEO’s of some of the largest companies in the world, these guidelines have value for businesses of all sizes, in any industry.