Corporate Heads of Strategy Identify Key Challenges Large Organizations Need to Address to Stay Ahead of the Pace of Disruption

Outthinker Strategy Network brings strategy executives together through curated learning and peer connections

NEW YORK, May 19, 2022 /PRNewswire/ -- Last week, the Outthinker Strategy Network (OSN) hosted 24 leading strategy officers at the Graduate Hotel in New York City. The heads of strategy from large and mid-market organizations across industries discussed the challenges they face and the strategic competencies needed to succeed.

"The strategy officer is a relatively new role that is only beginning to emerge," explained Claudio Garcia, OSN President and former CSO of Lee Hecht Harrison. "Forward-looking companies are building out robust strategy offices, with capabilities like data analytics, transformation, internal consulting, and M&A. In today's climate of disruption and technological transformation, the ability for leaders to step back from day-to-day fire drills to prepare for plausible future scenarios is increasingly imperative."

Key takeaways emerged throughout the summit, pointing to the following trends:

• Disruption from digital technologies (blockchain, crypto, web 3.0, metaverse, etc.) is already happening. Organizations need a serious approach to understand and explore business models enabled by these advancements.
• Companies are dealing with unprecedented uncertainty. Business leaders who wish to successfully navigate the next 1-2 years must adjust the rhythm of their strategic management.
• Customer expectations for speed and seamless experiences are driving companies to join ecosystems (as demonstrated by companies like Amplify Education, Haier, and Kofax) to deliver products and services closer to the point of demand.
• Popular measurements to track ROI for the core business are not appropriate for measuring innovation. Companies must take into account innovation metrics like the "cost of learning."
• Increasing compensation packages is an incorrect method for attracting talented employees that will remain loyal and grow with a company. Employees want to see that their work can make a difference.

ABOUT OUTTHINKER STRATEGY NETWORK
The Outthinker Strategy Network is an invitation-only network of Chief Strategy Officers and executives leading strategy for large ($1B+) organizations and a separate network for growth mid-market ($100M-900M) companies. Member companies include BNY Mellon, Catalent Pharma, Microsoft, Teladoc, and Yahoo. CSOs interested in joining the network and learning about future events can apply here.

Upcoming CSO events:

• June 14: Creating Synergy in M&A with Mark Sirower and Jeffrey Weirens (Deloitte)
• June 30: Fireside Chat: Strategy and Leadership with Gregory Goff (Andeavor, ExxonMobil) and Kalina Nikolova (Yahoo)

SOURCE Outthinker Strategy Network