Strategy& Foresight: From turmoil to transformation
As we look ahead at 2015, more turmoil is predicted across almost every industry — from sweeping technological changes, to massive regulatory and policy upheavals, to unpredictable markets. It’s daunting to lead through times of change, but such times also present transformative opportunities.
In this quarterly issue of Strategy& Foresight, we focus on our latest insights designed to help you win in today’s fast-shifting business environment. It’s not about moving rapidly. It’s about strategically deciding where to move.
Our "2015 Industry Perspectives" take stock of 16 different industries. And one striking thing holds true across every one: "Stay true to who you are and resist the urge to chase others." The most capable companies know who they are and understand the job they are uniquely qualified to do in the market. In turbulent times, they succeed by doubling down on the things that make them truly great — not by chasing growth around every corner.
"A Strategist’s Guide to the Internet of Things" is a fascinating article that predicts the Internet of Things (IoT) will be every bit as revolutionary as the introduction of the PC itself. How can your company win? Again, it comes back to doing what you do best — but strategically leveraging the IoT to do it faster and better.
"Applying a Fit for Growth approach in China" examines a critical turning point as China faces the notoriously difficult transition from a low-cost to a high-value economy. In order to succeed, both local Chinese ﬁrms and foreign multinationals must become what we call Fit for Growth*. This means surgically and strategically cutting costs and then redirecting money to invest more in the core capabilities that drive your profits. This allows companies to cut costs and grow stronger at the same time — a winning formula for any market, geography, or crisis.
It can be incredibly tough to make the right decision at the right time when markets are volatile and disruption reigns supreme. It takes extraordinary discipline — sometimes, even bravery — to stay true to your strategy and resist the urge to chase the market. But that’s exactly the kind of leadership that is required to turn turmoil into transformation.
* Fit for Growth is a registered service mark of PwC Strategy& LLC in the United States.