One of the buzzwords for this year is diversification

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With the competitive landscape constantly evolving, the ability to looking inwardly, assessing the strengths and weaknesses of your organisation will be essential. This can’t be done alone and those with the soft skills to make the most of their experienced staff will benefit the most. At the top it’s easy to become a little myopic but this is no time to be limited to high-level information. Utilising the middle tier, successful CEOs will be able to take a ground-up approach to transformation and change management. This flexibility and approach will ensure that as markets change and opportunities arise over the remainder of the year you’ll be in the perfect position, giving you an edge over your competitors.

54% of CEOs telling the PwC survey that they have entered a new sector or bahrain whatsapp phone number considered it in the past 3 years. Is this the perfect time to extend your product line of service offering? Are there any opportunities to acquire companies with critical technology or advantage to allow you to strengthen your proposition?

Other opportunities will likely come from partnering with organisations and it’s clear that many CEOs are going down that route as outward pressures increase. As we see more diversification across the board it is clear that competition will increasingly come from other sectors or sub-sectors highlighting the need for adaptability in these turbulent times.

However, whilst the business world may be evolving at a rapid pace, calling for CEOs to be agile, long-term planning is still essential. Having an over-arching strategy of what you’re looking to achieve in the next 3-5 years ensures that you can make quick, tactical decisions as you’ll know whether they’re in line with, and will deliver towards, your long-term vision. There is a great book written by Simon Collard, entitled ‘Where is the Money’, which is specifically designed for agency CEOs (although much of the advice is useful for any business leader) and within this he devotes a chapter to developing a 5 year business plan.