The state of play
Accenture conducted a major research initiative to discover what constitutes a Living Business and what’s driving companies who are ahead of the pack.
It’s clear businesses in the UK and Ireland recognise the need for the change. They know the journey to achieve relevance is an essential one but actioning the changes to get there is another matter.
How do Living Businesses achieve total relevance?
Living Businesses are fast and agile, continuously adapting to consumers’ evolving needs. These high-performers have five independent sets of capabilities which represent the keys to growth in the future. In order to bridge the gap between comprehension and action, and become a Living Business it helps to consider each of these capability sets as a pathway to transformation:
Companies must do more to stand out from the crowd
The truth is that Living Businesses are a rare thing. In fact, of the companies Accenture spoke to in the UK and Ireland, just:
This means the vast majority of businesses today sit somewhere in the middle.
The time to take action is now
Accenture’s research shows UK and Ireland Executives see the value of becoming a Living Business. It also exposes some anxiety about making it happen. But there’s no time to waste. A track record of past success no longer guarantees future growth, if it ever did. So, it’s time to turn theory into practice and inject relevance and customer-centricity into your business. That’s how to stand out from the crowd and meet the demands of customers who choose relevance every time.