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Which socio/ political/ economic factors will impact your business over the coming months?
Zoom chartOur respondents were generally positive about politics (the UK and US are seen as well run judging from their responses on the recent and forthcoming elections) and, perhaps surprisingly, about Europe and the Euro (with high hopes for an enlarged EU)
Terrorism and the Middle East are obvious causes for concern, as were elements of the economy (pensions, housing and oil prices especially). Some sectors still benefit though (e.g. Defence and parts of the Financial Services industry)
What were the key issues for Boards in 2004 and how will this change in 2005?
Despite economic concerns, cost reduction is less in favour, whilst growth (particularly acquisitive growth) will be a big issue for 2005
Our respondents take a robust view of business. Governance and Corporate Social Responsibility are not priorities. Unions are seen as an irrelevance
Execution – “the art of getting things done” – is prominent. We’ll return to this in future issues
What gives a company “Edge”?
Focus: “Companies should focus on customer segments they want to play in and avoid wasting effort in non-core areas.” Nicholas Todd, Head of Special Projects, Axa
Proposition: “A clear strategy and value proposition is vital for a company to stand out over its competitors.” Dr Jeffrey Bradford, Group Business Development Manager, Babcock
Business Alignment: “A differentiated proposition for customers needs a business system fully aligned to deliver its Strategy” Chris Doran, Head of Strategic Ventures, Lend Lease
Flexibility: “Flexibility is key. A company must have the ability to anticipate and respond positively to changes in the global business environment.” Kath Cortizo, Contract Manager, Serco
Relationships: “Relationships with clients, good systems and excellent people are key for a company looking to have an edge over its competitors.“ David Edmonson, Project Manager, Carillion
Stephanie Aldridge is a Manager at Credo.
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