April 23, 2008
How Companies Act On Global Trends
One of the biggest issues we hear from companies is that while there seems to be a flood of ‘trends’ information available to them (much of it for free), they have difficulty knowing how to use it to make real change internally. This learning seems to be backed up by a survey by McKinsey who say that while almost 70 percent of executives around the world think that global social, environmental, and business trends are increasingly important to corporate strategy, relatively few companies act on the global trends they think will affect them most - and among those that do act, only 17 percent report significant benefits! McKinsey’s says:
* One reason might be underinvestment in trends. For instance, many companies that pursue growing consumer segments in emerging markets build operations there but don’t develop lower-cost products.
* Companies that don’t act on trends they think will be important cite a shortage of skills and resources, higher strategic priorities, or a lack of possible responses to these trends.
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