Build the Future with WGA: The convergence of macroeconomic forces, technological disruptions, and changing market dynamics is creating a gap between successful and struggling companies. As the business landscape shifts, companies must adapt to thrive in this new world. But what does it take to build for the future in this environment?
WGA’s latest research sheds light on the five attributes that the most successful companies share, regardless of their sector. These key success factors allow these companies to outperform, withstand shocks and disruptions, and exploit innovation for value-creating growth. By following a clear path, companies can build these attributes and critical capabilities, allowing them to move into high-growth markets and seize new opportunities.
To achieve near-term performance and sustainable advantage, leaders need to drive programmatic change before transitioning to continuous year-over-year improvement. They need a blueprint that identifies which capabilities to build and how to best execute investments to maximize their return. While each company’s agenda will vary based on their sector and unique context, there is a clear path that all companies must follow to build for the future. To thrive in today’s dynamic and competitive business environment, companies need to develop a set of interrelated attributes that enable them to build for the future. These attributes, when fully embedded in an organization’s strategy, culture, and operations, create a solid foundation for long-term success.
Build the Future Framework
1. Next-generation leadership
A leadership approach that aligns with a corporate purpose, prioritizing social impact and sustainability over profits. Such leadership must align with the company’s overall mission and values to drive social benefit and stakeholder performance.
2. Continuous People advantage
Attracting, retaining, and developing world-class talent is critical for organizations to stay ahead of the competition. This requires creating a workplace culture that values diversity and inclusion, provides opportunities for growth and development, and rewards performance.
3. Next-generation operating model
An operating model that enables agility and resilience to combat exogenous risks. This means having the ability to pivot and change direction as needed while maintaining efficiency and effectiveness.
4. Innovative-driven culture
A culture that encourages experimentation, risk-taking, and creativity is essential for driving innovation. This requires an environment where employees are encouraged to share ideas, take calculated risks, and collaborate to drive innovation.
5. Scalable technology with embedded AI
Technology platforms and applications that can support ever-changing business needs, enhanced by AI that is fully integrated into the organization’s operations. This means investing in technology that can adapt and evolve as the business grows and expands, while leveraging AI to help companies make data-driven decisions, automate processes, and optimize operations to improve efficiency and effectiveness.
By developing these attributes, companies can build for the future and remain competitive. These attributes provide a roadmap for organizations to thrive and succeed in a rapidly changing business landscape. Focusing on the five key success factors and developing critical capabilities, companies can build for the future and thrive in this new business landscape. WGA’s latest research and insights provide a clear path for leaders to follow, ensuring that they can deliver near-term performance and sustainable advantage while preparing for the challenges of the future.