Boston: The Boston Consulting Group (BCG), the top strategy consulting firm, is to launch a year-long programme focused on the theme of "Game Changing" to help mark the company's fiftieth anniversary in 2013.
The Game Changing programme will tackle the most fundamental dynamics facing leaders in an age of unprecedented turbulence, and it will develop and promote action-oriented breakthrough ideas for transforming the fortunes of business and society. The program will explore paths to success through content partnerships with other top-tier organizations, BCG publications, and an online and offline forum series that will foster debate between business leaders, policymakers, the media, and the public.
"The global economy is undergoing the most radical transformation since the Industrial Revolution," said Rich Lesser, who became BCG's president and chief executive officer on January 1.
"The rapid rise of the emerging markets, extraordinary technological advances, hyperconnectivity, dramatic demographic change, fiscally constrained public sectors--all of these are forcing companies to rethink and revamp the way they do business. To capitalize on the opportunities created by accelerating change, leaders need to be proactive and challenge the status quo. In short, they need to change the game.
As part of the Game Changing programme, BCG has identified five key issues or "dimensions" for successfully managing in an age of accelerating change:
- The New Growth-Value Equation. Growth wasn't effortless before the financial crisis, but few executives would disagree that it's become much more difficult since then, particularly in developed markets. Now leaders need to refocus on the core strategies for creating profitable growth in order to create long-term value: entering new markets or expanding into existing ones and investing in innovative products and services, processes, and business models.
- The Fit-to-Compete Factor. In an increasingly complex and competitive world, companies and countries need to be not just fit for purpose but fit to compete. They must develop "smart rules" for managing complexity and gaining competitive advantage--becoming leaner and more operationally efficient, simpler and more organizationally effective, and better able to attract the best talent.
- The Adaptive Mindset. Companies must continuously reshape their organizations in order to not only respond to rapid change but also leap ahead of competitors. Likewise, public sectors have to develop agile ways of reforming their institutions in order to enhance essential services, such as health and education, and meet the changing needs of their people.
- The Two Halves of Connectivity. To succeed, companies and countries need to harness the tools of hyperconnectivity: not just digital technology but also bridges, roads, railroads, and airports--particularly in the fast-developing economies ("the forgotten half of connectivity"). By doing so, they can realize the true potential of ever more connected consumers, markets, and society.
- The Perpetuity Principle. Leaders must display the skills of stewardship, developing sustainable and trusted businesses with a vision of their companies' long-term legacy--to meet the growing expectations of society, ensure value creation, and improve well-being for the future.