C-Suite barometer 2024
With insights from around 800 executives across 30 countries, we uncover the strategic priorities on the C-suite’s agenda and the market trends and transformations expected to impact businesses in the years ahead.
Unlocking organisational excellence: key insights from our event with BQF
How can change leaders support their C-suite to ‘unlock excellence’ within their organisation? This was the central theme of our recent event in partnership with the British Quality Foundation.
Experts from our Management Consulting team hosted representatives from FTSE250 to small and medium-sized companies and explored subject matters ranging from the benefits of artificial intelligence (AI) to the impact of human-led workplace experiences. We were also joined by keynote speakers John Sills (Author of The Human Experience) and Peter Evans (former Director of Service and Performance at LEGO) who sparked discussion around the benefits of simplification within an organisation and effective strategic storytelling.
Here we share some of the expert insights and the key takeaways from the day of discussions:
- Aligning strategy and culture: Organisations thrive when their strategic priorities align with their culture. However, disconnects between C-suite strategy and operational delivery can hinder success, often due to accountability issues or ineffective communication. By clearly linking an organisation's strategy to its purpose and mission, leaders can more effectively facilitate the translation and delivery of corporate priorities.
- Optimal process design: Successful process design typically involves three key components: ensuring the right processes are in place; fostering the right environment for employees; and aligning work with the organisation's purpose. Effective processes require a balance between the quality of the actual process steps, and employee acceptance of the new business process, in order to foster successful adoption.
- Overcoming barriers to AI adoption: Fear of the unknown often inhibits AI adoption but change management can play a crucial role in addressing these fears and in developing a successful digital implementation roadmap. Workshop attendees in Mazars' Innovation Lab cited a number of core desired benefits of AI including streamlining tasks, enhancing accessibility through training, reshaping workflows, and delivering societal value.
- Strategic integration of AI: Successfully implementing AI requires robust data governance and data quality, both of which are elements that are often overlooked by organisations when they consider AI as part of their digital strategy. It can be tempting to see AI as a one-size-fits-all solution to common organisational challenges, however, it is important that leaders understand AI's multifaceted nature, including the opportunities Natural Language Processing and Machine Learning offer, in order to allow for purposeful integration into organisational strategies.
- Prioritising human-centric experiences: Good customer experience management and employee empowerment are central to organisational success. John Sills shared that leaders are able to create a successful organisation by making things easier, better and more straightforward for customers, whilst also creating a "human organisation" that celebrates and encourages employees to show their human tendencies in the workplace.
- Embracing continuous learning and listening: Learning organisations foster high-quality work by combining various learning mechanisms across leadership levels, teams, and the organisation as a whole. Empowering employees to contribute ideas and fostering a culture of listening is vital for continuous improvement.
- Data-driven recruitment practices: Adopting data-driven approaches to recruitment helps organisations address challenges related to talent acquisition. From reducing costs associated with poor recruitment practices to enhancing employee engagement through inclusive processes, leveraging data transforms and improves the recruitment cycle.
- Building a strong brand identity: In a session led by Peter Evans, he shared that organisations with a strong brand identity, purpose, and values inspire employee engagement and loyalty. Drawing on real-life examples from his career at LEGO, he showed that strategic storytelling that resonates with employees, helps weave a consistent strategy throughout the organisation, driving success at all levels.
These insights underscore the importance of cultivating a holistic approach to organisational excellence. They serve as a reminder that business success is not just about strategy and technology but also about fostering a culture of continuous learning, human-centric experiences, and purpose-driven initiatives.
As you continue your journey toward organisational excellence, consider exploring Mazars' C-Suite Barometer Report 2023 for further insights and perspectives on navigating the evolving landscape of business leadership and strategy. This report offers valuable data-driven analysis that can enrich your understanding and inform your strategic decisions. To delve deeper into the insights shared here and explore new horizons in leadership, visit our C-suite barometer. 2024.
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