Investors and consumers are joining a chorus of voices calling for a new mandate for the business world: lead the way in efforts around social inclusivity and environmental sustainability.
Many of the societal shifts that pre-dated the COVID-19 pandemic have accelerated in the last year, as reflected in Accenture’s study titled “Society Disrupted. Now What?”
Consumers expect greater transparency in the origins of goods. Citizens await digital health passports so they can travel again. City dwellers demand more sustainable, smart neighborhoods.
We believe that these emerging lifestyle demands will present new business opportunities that cannot be captured with pre-crisis strategies. Companies must prepare for the society of the future.
Accenture surveyed 1,500 senior executives in 10 industries across 12 countries to see how (or if) companies intend to adapt to these shifts in the next five years. And, we discovered a wide gap between recognition of the opportunity and readiness to tap into it.
Almost two-thirds of senior executives expect these lifestyle shifts to become the new norm, but 60% admit their companies are not yet prepared to meet the evolving needs.
Sixty four percent of senior executives expect emerging new lifestyles to arrive within the next five years.
How long will it take for following lifestyles to become the new norm?
Percentage of respondents
Total sample, n=1,500 Source: Accenture Growth Markets C-level Survey, September – October 2020
Dr. Vedrana Savic
Managing Director – Thought leadership
Vedrana’s research focuses on business disruption, enterprise innovation, investment strategy and organizational change.
Valentin de Miguel
Senior Managing Director – Chief Strategy Officer, Growth Markets
Valentin is focused on helping C-suite executives develop strategies to transform and reimagine their organizations to enable continuous innovation, from idea to execution.
Senior Managing Director – Growth & Strategy, Growth Markets
Trevor focuses on advising companies and governments on strategy (Business, IT, Digital), innovation applied to business and operating models, and transformation. His specific focus is on how technology can disrupt companies and industries.
Forerunners stand out in the business priorities they choose to focus on, over time. With their forward-thinking and strategic business positioning, these companies are taking concrete steps to meet the challenges and opportunities that are arriving at a furious pace.
Laying the foundation for a better future
Calls are growing for companies to embrace their responsibility to create a society that is better for all.
While most senior executives recognize that the future will not be an extension of the past, they have work to do in accelerating the necessary changes within their organizations.
Forerunners are demonstrating that bold steps in the areas of new talent, sustainability solutions, human-centric innovation and responsible technology are necessary for laying the foundation for a better future, not only for their own business success, but also for the benefit of their employees, customers, partners and communities.
Joining their ranks is a tall order—but one that is within reach.
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The rise of forerunners
Four business priorities to set companies up for success.