“Focus On Core Business”
In the February 6, 2009 issue of Economic Times (India), Booz & Company Chief Marketing and Knowledge Officer Tom Stewart (North America) said that CEOs in hard times need to recognize that the business world is changing, which in turn puts more pressure on every company to make decisions faster about more complex issues. “Bill Gates called his book, [email protected] Speed of Thought, but the problem is when the business grows at a faster rate than the speed of thought,” said Stewart. “It puts terrible pressure on decision making.” In a wide-ranging interview, Stewart detailed several other major issues facing CEOs, including what he called “fuzzy boundaries”—a reference to global organizations that have outsourced much of their value chain, requiring that executives deal with “a multi-dimensional matrix, like a plate of spaghetti” when making decisions. Still another issue facing CEOs, Stewart said, is the challenge of decision making without knowing what the future will bring. “It’s not even about odds or risks but conditions where you just don’t know,” he added. “We have to get through the night, and who knows how long and dark the night will be.”