As we look towards a post-pandemic future, every company must consider their raison d’etre. Why they exist, their purpose and how they will create value—not just to shareholders but to extended stakeholders: their customers, employees, and the wider community. Defining a clear organizational purpose acts as the North Star to guide not only the overall corporate strategy but the operating model itself. Sustaining a sense of purpose over time means creating an understanding of how all levels and roles contribute to the organizational purpose.
Foresight begets agility and resilience
In a world of massive data proliferation, every company is challenged to derive insight from information. It’s another challenge that’s been exacerbated by the crisis. In fact, 68% of executives we surveyed ranked capturing insights as the most important element of the organization’s operating model for adapting to the COVID-19 crisis. Yet only 17% had full confidence their organization had the necessary insights to make the right business decisions.