Setting strategy in a changing world
The differing rates of economic growth, or indeed, contraction that we see around the world together with greater volatility, has made it more difficult for companies to create and execute new growth strategies. Other changes have compounded the challenges. These include the impact of new digital technologies, shifting demographics, changing customer behaviour and mounting pressure on the world’s most critical natural resources. The links between business and governments around the world have also become clearer and more important.
Seeing the future clearly and developing a proactive response - rather than simply reacting to events - will be a key source of competitive advantage in a fast-evolving market.
What does this mean for your business?
Top executives in every industry are considering how to succeed in this new environment. They’re thinking about how best to pull strategic levers like talent, collaboration and innovation. They’re also reassessing their risk strategies and organisational and analytical techniques to make their companies more resilient. And some of them are targeting specific emerging economies, which they now regard as more promising than their traditional markets.
But all markets vary – as do the needs and wants of the customers they comprise. So it’s essential to have a global growth strategy that’s underpinned by the ability to get closer to customers at local level. This often entails dealing with different demographic profiles, assumptions, behavioural patterns and the like. It may also mean localising a company’s power structure, allowing the business to pivot in different directions across different markets as conditions change.
That’s a tall order, especially given the need to keep a tight global rein on costs and risks. But, in our view, local responsiveness is now vital for the success of any strategy based on global growth.
View our latest Strategy research and insights
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Sep 9, 2014
This first section of our annual report covers China's semiconductor market, industry and production/consumption gap and includes interviews with executives at Samsung and SMIC.
Aug 28, 2014
2014 PwC Global PPM Survey: latest trends, challenges, opportunities and opinions relating to the management of portfolios, programmes and projects.
Aug 27, 2014
Suite of PPM services developed to address the most frequent and significant challenges facing selection and delivery of strategic projects and value.
Jul 31, 2014
Four out of five CEOs in the airline sector witness a shift in global economic power as the major trend that will transform their business over the next five years. According to the survey, increasing passenger volumes will mainly result from growth in China’s middle class.
Jul 17, 2014
Non-life insurers are being left behind by the rapid changes in customer expectations. How can digital innovation help them to engage more closely with customers?
Jun 26, 2014
This report ranks global top 100 companies by market capitalisation – and compares the list from March 2009 to March 2014.
Jun 25, 2014
PwC’s global working capital survey 2014 looks at which countries are succeeding in releasing cash for growth and which sectors have work to do.
Jun 24, 2014
The financial services sector is facing increasing market transformation. How can you make sure your business is equipped to compete?
Jun 13, 2014
Once again PwC is hosting a Central Bank Forum to bring together senior central bankers from around the world. Sessions will include topics such as global economic trends, bank resolution, monetary policy, ethics in central banking, data mining and balance sheet management, to name a few.
Jun 13, 2014