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The 2018 CSO Benchmarking Study Management Summary
Read about the highlights from the 2018 CSO Benchmarking Study.
Memo to the CEO: Is your Chief Strategy Officer set up for success?
Companies large and small continue to create the CSO position. Yet as desirable as this role clearly is, there are signs that it has yet to be exploited to its full potential. Indeed, in a wide-ranging survey of 187 CSOs across the globe, Strategy& found that only 25 percent of respondents felt they were “very successful” at creating value for their company. And in our ongoing research into the state of strategy, we find that 65 percent of executives across industries don’t think their company has a winning strategy..
This tells us that companies need to reexamine how to get the most from this increasingly critical strategic role. Getting this right is vital: In these turbulent times, companies need to make clear choices on how they are going to compete and win, and that requires building real advantage. Just “existing” — launching initiative after initiative to seek growth or trying to remain flexible and react to what others are doing — is a clear path to failure. Companies need to reboot the CSO role and strategy itself.
Key findings
Struggling to create value
Despite the potential for CSOs to make a difference, most CSOs don’t seem fully satisfied with their ability to create value.
Shaping the company’s agenda
According to study participants, the number one thing that would allow CSOs to create more value for the organization is to “get more in front of and drive change, rather than reacting to it.”
Clearly defining the CSO’s role and priorities
Most CSOs are stretched across many different areas and their role is not clear.
Improving the strategic planning process
The strategic planning process takes up a great deal of the CSO’s time: A huge majority — 82 percent — say that it is a “very important” area of responsibility, far outweighing any other. But most CSOs are dissatisfied with the output.
Additional resources
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Memo to the CEO: Is Your Chief Strategy Officer Set Up for Success?
Empowering the CSO and restoring strategy to the front line is imperative in a challenging environment.
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The Capabilities Assessment Tool
Is your company aligned on what matters most to its success? How good are you in those areas? The Capabilities Assessment Tool can help you identify, build and monitor the capabilities that are at the heart of your success.
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The Strategy Profiler
Do you have a winning strategy? Find out how well you are positioned for success.
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Strategy That Works
Winning companies don’t follow conventional wisdom. They apply five acts of unconventional leadership that allow them to close the strategy-to-execution gap.
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The crisis of purpose
Read our research based on a survey with 540 participants on the connection between strategic purpose and motivation.
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The Fear of Disruption Can Be More Damaging than Actual Disruption
Resist the urge to react too hastily to major change — or to use it as an excuse not to take action. Focus instead on making the fundamental strategic choices necessary to strengthen your business.
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