New Delhi, 23 February 2021: After the Corona epidemic, how should the office work, and which things should be focused on more? A survey among 3000 CEOs around the world tried to find answers to these questions. This IBM survey reveals corporate priorities during the corona pandemic. The report also identifies five key factors that separate outperformed CEOs from the crowd.
According to IBM’s 2021 CEO Report, it is necessary to eliminate distractions, discard wasteful traditions and take advantage of unique advantages. Mark Foster, senior vice president of IBM Services, says the corona epidemic has presented a new challenge to companies’ leaders as to where they should focus and where not. Like now, the company is focusing on its employees. This report has three parts – priority, benefits, and learning.
The three significant work priorities after a pandemic are – agility, technique, and regulation. Working agile means preparing oneself to be able to react faster. Fifty-six percent of CEOs aggressively want to work on operational agility and flexibility over the next two to three years. Simultaneously, technology will have the most significant impact on business in the next few years. CEOs are looking to the Internet of Things, connected devices, cloud computing, and artificial intelligence. Half of the CEOs have said to focus on regulation as a priority. This reflects increasing assertiveness by governments regarding privacy, data, trade.
Seventy-nine percent of CEOs are focusing on the Internet of Things. Seventy-four percent is focused on cloud computing, and 52 percent CEO wants to work on Artificial Intelligence.
Five areas that separate the great-doers and the bad-doers-
1. Leadership- Performers who performed great during the pandemic show decisive strategic leadership. 85% consider leadership to be essential for performance in business.
2. CEOs of tech-enabled companies focus on new technology and take the risk and opportunity to adopt them.
3. The remote workplace (Work from Home) created due to employee-corona is one of the most focus areas for significant companies. 50% of CEOs recognize this as a substantial challenge.
4. Open Innovation – 63% of CEOs are focusing on open innovation to stay ahead.
5. Cyber Security – 26 percent of companies see cybersecurity as the biggest challenge in the next few years.
According to this IBM report, CEOs are focusing on three areas –
1. Consumer- 48% of the survey respondents considered customers and citizens as their most important business priority. CEOs want to improve their customer experience and focus on ethics and integrity. According to IBM’s report, companies know that exploiting their customers and partners or taking advantage of them is a loser’s game.
2. Product-30% CEO has focused on product and service as a priority.
3. In the Operations-Study, 20% of CEOs have focused on efficiency, distribution, pricing structure, and transparency.Follow Punekar News: