309Write - A new year, a better you: Four priorities for changing businesses

While there’s no perfect time to implement change, a new year is a blank page – an opportunity to put aside things that were holding us back and create the conditions for future success.

But not all resolutions materialise, especially when it comes to the uncertain world of business. From the Covid-19 pandemic to the ongoing climate crisis, it is clear that the nature of corporate change itself is changing. Businesses must take the path less travelled if they hope to bounce back to pre-pandemic levels of performance, and bounce forward in the years to come.

Just as poorly focused personal resolutions rarely produce stellar results, poorly formulated business strategies will not serve your company, no matter how well they are executed. Change strategy needs to be informed by the future version of the company you want to become, rather than ad-hoc reactions to market forces that are increasingly volatile. Even during 2021, when many companies enjoyed strong investor confidence, revenue growth did not keep pace. That revenue growth challenge is even more pronounced now.

Titled Beyond 2021, the report found that while many companies saw significant growth in their market capitalisations since the start of the pandemic, expected revenue growth remains below the pre-pandemic levels overall.

A closer look at a handful of companies that bucked this trend and successfully grew both market capitalisation and revenues revealed four specific priorities that set them apart. For these companies, the strong growth momentum in market capitalisation was an opportunity to prioritise change that is Responsible, Intelligent, Customised and Expandable (R I C E).

Enjoyed this article? Stay informed by joining our newsletter!

Comments

You must be logged in to post a comment.

Related Articles
About Author